SPML Infra Limited – Rising Structure Meets Supply Headwinds

SPML Infra has been trending higher over the medium term, supported by a rising base trendline. Recent price action shows the stock moving into a converging structure, with price squeezed between an upward-sloping support and a declining resistance line — indicating a potential inflection zone. 📊 Price & Structure Observations Price is currently hovering near the ₹185–₹200 zone, which has acted as a near-term supply area in the past. The broader uptrend is still intact as long as the rising trendline holds, but upside momentum is facing friction near overhead resistance. Volatility has compressed, often a precursor to a directional move. 📉 Momentum Check (RSI) RSI is showing hidden bearish divergence, suggesting that while price made higher lows earlier, momentum failed to confirm. RSI remains below the bullish expansion zone, indicating caution near resistance rather than outright strength. 🧠 Interpretation The stock is at a make-or-break zone. Sustained strength above the supply band would be required to negate bearish divergence and resume the uptrend. Until then, price may remain range-bound or see short-term pullbacks despite the larger bullish structure. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)