Aug. 9 at 6:30 PM
$RVNL.NSE
$RVNL – Weekly Technical View
Price Action:
Current Price: ₹336.60
Weekly High: ₹357.30
Weekly Low: ₹335.30
Closing near week’s low, indicating selling pressure.
Trend & Moving Average:
Price is trading below the 50-day EMA (green), 100-day EMA (blue), and 200-day EMA (black), showing a strong bearish trend.
200-day EMA is far above the current price, confirming a long-term downtrend.
Indicators:
Parabolic SAR dots are above the price, confirming bearish momentum.
MACD remains in the negative zone, with no bullish crossover signal yet.
RSI (14) is at 38.79 – in the bearish territory but not yet oversold, meaning further downside is possible.
Support & Resistance Levels:
Immediate Support: ₹315
Major Support: ₹300
Immediate Resistance: ₹355–360 zone
Major Resistance: ₹380
Technical Outlook –
$RVNL
$RVNL is facing continued selling pressure and is trading below all major EMAs on the weekly chart.
The downtrend remains intact, and unless the stock closes above ₹350–360 on a weekly basis, short-term upside momentum will remain limited.
The
$COMPANY is scheduled to announce its results on 12 August, which could lead to increased volatility. In the short term, the
$STOCK is showing no signs of entering a correction phase; however, it needs to sustain above ₹350 for any meaningful recovery.
For long-term investors, any significant dip can be considered a buying opportunity, especially if results are strong and the
$STOCK manages to hold its rally. In such a case,
$RVNL could potentially retest its previous highs of ₹450–₹460 within the next 3–6 months.
Warning
Registration granted by SEBI, membership of a SEBI recognized supervisory body (BSE), and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer
This analysis is for educational purposes only and does not constitute investment advice. Past performance is not indicative of future returns.
Disclosure
Investments in securities markets are subject to market risks; read all the related documents carefully before investing. We have no personal or family holding in RVNL at the time of this report.