RVNL Trading In A ‘No-action’ Zone; SEBI RA Sudhansu Panda Eyes Support At ₹300 As Key Re-Entry Point

Despite weak technical signals, the company remains fundamentally sound with a large order book.

Rail Vikas Nigam (RVNL) has secured multiple projects this year, with the latest being a deal to design and construct a 7.3 km-long viaduct for the Delhi Metro Rail Corporation. However, while the fundamentals remain strong, the stock has been on a steady decline.

After reaching a high of around ₹440 last month, RVNL shares have slipped nearly 20% to hit a low of ₹353. At the time of writing, the stock was trading marginally lower at ₹358.90.

Currently, RVNL is trading in a no-action zone, reflecting a typical sideways market condition that often traps retail traders unaware of such price behavior, said Sudhansu Sekhar Panda, a SEBI-registered analyst at Bluemoon Research.

Historically, the stock has shown consistent support in the ₹300 - ₹320 zone, bouncing off this base multiple times before rallying to higher levels. This support range has now become critical, the analyst noted. If sustained, it may signal a reversal or base-building process once again.

The ₹440 mark has become a double-top resistance zone, making it a key level to watch in the next rally. Until then, the stock is expected to remain within a broad range, he added.

For long-term investors, Panda recommends accumulating the stock on dips, particularly near the ₹300 - ₹320 support zone. If RVNL retests lower levels, it may offer a strong buying opportunity with potential upside targets of ₹450 to ₹500 over time.

Retail sentiment on Stocktwits turned ‘bearish’ from ‘neutral’ a week ago. The participation ratio, which measures the ratio of unique accounts posting to the total number of messages in a stream, on the platform, was ‘extremely high’.

Year-to-date, the stock has shed 15.1%.

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