Technical Analysis of Power Mech Projects

The stock

has shown a strong recovery from the March 2026 low near ₹1800. The stock formed a series of higher highs and higher lows during the April–June rally indicating a clear bullish trend. However after reaching around ₹2900 the stock entered a corrective phase and is currently consolidating near ₹2500. Immediate support is around ₹2400–₹2450 where the stock has recently found buying interest. A stronger support zone is near ₹2300–₹2350. If ₹2400 breaks decisively the stock could move towards ₹2300. Immediate resistance is around ₹2600–₹2650. A breakout above this zone can open the way towards ₹2750–₹2850. The previous major high near ₹2900 remains an important resistance. For buyers, the stock looks neutral to cautiously bullish above ₹2400. A sustained breakout above ₹2600 with strong volume would provide better confirmation of renewed bullish momentum. Holders can continue to monitor ₹2400 as the key short-term support. A decisive close below this level may weaken the current structure.