📉 Techno Electric – Weakness Emerges Below Trendline Support

🚩 1. Breakdown of Rising Trendline Price has decisively broken below the upward sloping trendline that supported the April–July rally. This technical breach signals a shift in control from buyers to sellers. 🚩 2. Lower Highs + Downward Sloping Resistance A clear sequence of lower highs has formed, with a downward sloping resistance line capping price action since the top near ₹1628. A descending triangle setup is also visible. 🚩 3. RSI Below 35 – Weak Momentum RSI has slipped to 34.86, indicating oversold conditions but also confirming bearish momentum. Unless this reverses with strong bullish candles, downside continuation is more probable. ⚠️ Short-Term View “Reversal unlikely unless price reclaims ₹1450+ zone decisively.” Next key support sits at ₹1348, followed by ₹1206. Keep watch for RSI bullish divergence for any possible bottoming signal. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.