🔹 Price Action Sudarshan Chemical has been on a strong rally, now trading at ₹1,500, after a sustained breakout move. However, price action is showing early signs of exhaustion at higher levels. 🔹 Technical View Support Levels: ₹1,401 / ₹1,314 Resistance: ₹1,500+ zone (current highs) RSI: At 74.5 in the overbought zone, but showing a bearish divergence (price making higher highs while RSI makes lower highs). Trendlines: The stock is still holding the green rising trendline, but is near the upper channel resistance (red line). 🔹 Caution Signs Bearish RSI Divergence suggests weakening momentum. Weekly RSI above 70 often indicates overbought conditions. Price exhaustion near channel top raises the possibility of a short-term correction. 🔹 Outlook While the long-term trend remains intact, Sudarshan Chemical appears overextended in the short term. A correction towards the ₹1,400–1,314 zone looks likely before any further rally can sustain. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.

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