⚡ Swelect Energy Systems Ltd. – At Major Support, But Obstacles Ahead

🔹 Price Action The stock is currently trading above a long-term support trendline, which has provided stability during past corrections. The recent move shows signs of strength, but the stock is facing multiple overhead resistances that need to be cleared before any strong acceleration can occur. 🔹 Technical View Support Base: Price is holding firmly above the major ascending support line. RSI Bullish Divergence: Momentum indicator (RSI) shows higher lows, while price made lower lows earlier → a bullish divergence signaling potential strength. Resistance Cluster: Strong supply zone exists around ₹790 – ₹910, also aligning with the downtrend resistance line (red). Volume: Uptick in volumes recently, but not yet at breakout confirmation levels. 🔹 Levels to Watch Immediate Resistance: ₹790 Major Resistance: ₹910 (needs a breakout for momentum shift) Support Zone: ₹667 Major Support: ₹600 📊 Summary Swelect Energy is showing early signs of reversal, supported by bullish RSI divergence and strong base support. However, it must clear ₹910 with volume to confirm a trend reversal and accelerate toward higher levels. Until then, expect sideways-to-gradual recovery moves. 📢 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.