Technical Analysis RITES Ltd.

The stock

has been in a prolonged downtrend falling from highs above 310 down to a recent bottom near the 170-180 zone. However the chart shows a very sharp V-shaped recovery recently bouncing back strongly to its current price of 221.95. Looking at the volume bars at the bottom of the chart there is a noticeable increase in activity accompanying this recent upward move. This rise in volume during the price increase is a positive sign confirming that buyers are stepping in at these lower levels. Resistance The next major supply zone sits around the 250-260 level. A strong breakout above this area supported by continued high volume would be needed to confirm a proper trend reversal. Support The recent bottom near 170-180 now acts as a major foundational support. There is also immediate minor support around the 200 level. Short-Term Buyers they use charts and momentum to grab quick profits over days or weeks, always relying on strict stop-losses to manage risk. Holders they invest for years ignoring daily market noise to build lasting wealth through steady accumulation and the power of compounding. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.