KRBL LTDLargo
KRBL Testing Long-Term Support – Key Level to Watch
The stock is testing a long-term ascending trendline, which has acted as support multiple times over the past few years.
The RSI is at 32.27, indicating oversold conditions but also a bearish divergence, suggesting caution.
The MACD is showing a bearish crossover, with the histogram in negative territory, indicating downward momentum.
Recent volume has increased, indicating strong selling pressure as the stock tests support.
Immediate support is at the ascending trendline around ₹270. A break below this level could lead to further downside, with next major support around ₹200.
Watch for a potential breakdown below ₹270 with strong volume, which could signal further downside towards ₹200. If the support holds, monitor for a possible bounce, but be cautious due to bearish indicators.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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