🏗 Welspun Corp Ltd. – Bearish Hidden RSI Divergence, Pullback/Correction Likely

🔹 Price Action CMP: ₹888 (+4.58%). Price is attempting a recovery after testing support near ₹822. However, broader structure shows resistance around ₹900–₹960 zone, where supply has emerged earlier. 🔹 Technical Observations Bearish Hidden RSI Divergence: Price making higher highs / sideways consolidation, RSI making lower highs → momentum weakening. Falling RSI Trendline: RSI consistently rejected from downward sloping trendline → confirms waning strength. Price closed below short-term rising support trendline once, indicating distribution signs. 🔹 Key Levels Immediate Resistance: ₹900–₹960 (multiple rejections here). Immediate Support: ₹822. Major Support: ₹725. Upside Potential: Only above ₹960 can strong bullish momentum resume. 🔹 Indicators RSI ~56: Trending weak, struggling below falling resistance line. Volumes: Recovery not backed by strong buying volume → risk of false pullback. Trend: Medium-term uptrend intact, but showing early exhaustion signals. 🔹 Strength & Risk ✅ Long-term trend still bullish above ₹725. ❌ RSI hidden bearish divergence + weak momentum suggests pullback likely. ❌ Multiple supply zones around ₹900–₹960. 🔹 Outlook Short Term: Likely to face resistance at ₹900–₹960; a pullback towards ₹822 possible. Medium Term: Sustaining below ₹822 may trigger deeper correction towards ₹725. Bullish Continuation: Only if stock closes above ₹960 with volumes. 📌 Strategy Traders: Avoid aggressive longs near resistance. Safer entries only above ₹960 with stop-loss below ₹900. Short-term corrective trade possible on rejection from ₹900 zone. 📢 Disclaimer: Educational analysis only, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).