Chennai Ferrous Industries technical analysis

According to the latest Pivot data, Chennai Ferrous Industries’s immediate technical levels for the selected time period 5 minutes indicate key support and resistance zones that traders should closely monitor. The pivot point is positioned at ₹113.13, serving as the central reference for market sentiment. On the upside, the stock faces resistance near ₹116.26, ₹118.58, and ₹121.71, which may act as potential barriers to further price appreciation. On the downside, support levels are observed around ₹110.81, ₹107.68, and ₹105.36, offering possible rebound zones in case of a correction. These levels are crucial for traders looking to identify entry, exit, or reversal points in Chennai Ferrous Industries’s price movement.