Rail Vikas Nigam Ltd (NSE: RVNL) is showing early signs of exhaustion as its share price hovers near ₹346.30, stuck in a tight range between immediate resistance at ₹355.15 and support at ₹303.10. The recent bounce, while promising on surface, is beginning to look more like a breather than a full-fledged reversal.
Technically, RVNL has struggled to reclaim higher ground after its steep slide from February’s spike above ₹478.85. The RSI sits at 46.97, flirting with neutral territory but lacking the momentum needed for a bullish breakout. MACD indicators are still flashing bearish signals, with the line well below zero and no clear crossover in sight.
What’s weighing on the stock? A lack of fresh catalysts and cautious sentiment in the broader infrastructure space may be to blame. While recent earnings didn’t disappoint outright, they also failed to ignite investor enthusiasm. Traders are now eyeing the ₹355–₹385 resistance corridor; a breakout here could put ₹425.90 back on the radar.
On the flip side, if the ₹303 floor gives way, RVNL risks retesting deeper lows from late 2024. For now, the market waits. Will bulls find new steam, or is this just a pause before the next leg down? The next few sessions could offer crucial clarity.
This post was last modified on Apr 14, 2025, 18:19 BST 18:19