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Elgi Rubber Company Limited (ELGIRUBCO) — Technical Setup
₹50.28 -0.97% Weak Downtrend Normal Volatility Bearish
Summary
Elgi Rubber Company Limited is in a weak downtrend on the daily chart, with the weekly trend bearish and the monthly trend bullish. RSI(14) is 44.3, MACD is above its signal line, ADX reads 9 (weak trend). The stock trades 0.1% above its 200-day average and 24.6% below its 52-week high. Volume in the latest session was 2.2× its 20-day average. Over three months it has underperformed the Nifty 50 by 19.9 percentage points. Nearest support is ₹50.06 and resistance ₹56.55. Its technical score is 34/100 (bearish).
🧮 How the 34/100 is built
Five components, 20 points each. Every rule is shown with the points it earned — the score describes the chart as it stands today; it is not a prediction.
- Close above 20-day EMA (-1.59)0/3
- 20-day EMA above 50-day EMA0/3
- 50-day EMA above 200-day EMA0/3
- Close above 200-day SMA (0.06)3/3
- SuperTrend (10,3) pointing up0/3
- ADX ≥ 20 with +DI above −DI (trend has strength) (8.54)1/3
- Weekly trend up (above a rising 30-week average)0/2
- RSI(14) in the bullish zone (55-70 best) (44.32)2/6
- MACD line above its signal line4/4
- MACD line above zero (-1.21)0/3
- 12-day rate of change positive (1.23)3/3
- Stochastic %K above %D2/2
- Outperforming the Nifty 50 over 3 months (-19.85)0/2
- On-balance volume rising over 20 sessions0/5
- Chaikin Money Flow (20) positive (-0.31)0/5
- More volume on up days than down days (20 sessions) (0.97)0/5
- Close above 20-day VWAP (-2.67)0/5
- Daily range (ATR%) contained — ≤2.5% scores full (5.97)2/6
- Price in the upper half of its Bollinger Bands (0.42)2/5
- Shallow drawdown from the 52-week high (-24.57)1/5
- Volatility contracting (20-day volatility below its 6-month median) (0.80)4/4
- Room to the next resistance (≥8% scores full) (12.47)5/5
- Support close below (a tight, definable stop) (0.44)5/5
- Broke above a 20-day high in the last 5 sessions0/5
- Within 5% of the 52-week high (-24.57)0/5
🧭 Regime: Weak Downtrend
Normal Volatility — Bollinger width is in the 22th percentile of the last six months.
Suits: Defensive. Price is below its averages. Oversold bounces happen, but the path of least resistance is lower — wait for a base.
Classified from ADX, the 20/50-day EMA stack and price's distance from the 50-day average; volatility from band-width and ATR expansion.
Opens the AI Backtester with the SuperTrend (10,3) rules for ELGIRUBCO — supertrend (10,3) flips to an uptrend.
🕰️ Multi-timeframe
| Timeframe | Trend | RSI (14) | MACD hist. |
|---|---|---|---|
| Monthly | ▲ Bullish | 54.13 | 1.40 |
| Weekly | ▼ Bearish | 45.69 | -1.24 |
| Daily | ▼ Bearish | 44.32 | 0.29 |
Weekly: close vs a rising 30-week average (Weinstein). Monthly: close vs the 10-month average. Weekly SuperTrend: Bullish, weekly ADX 27.95.
📶 Volume & VWAP
VWAPs are computed from daily bars (typical price × volume), not intraday ticks.
💪 Relative strength
ELGIRUBCO ÷ Nifty 50, rebased to 100 a year ago. Rising = outperforming.
🧱 Support & resistance
Clustered swing highs and lows from the last year; “touches” is how many swings formed the level.
| Level | Price | Distance | Touches |
|---|---|---|---|
| Resistance | ₹64.66 | +28.6% | 5 |
| Resistance | ₹56.55 | +12.5% | 12 |
| Close | ₹50.28 | — | |
| Support | ₹50.06 | −0.4% | 5 |
| Support | ₹44.75 | −11.0% | 7 |
| Support | ₹39.25 | −21.9% | 3 |
| Support | ₹36.10 | −28.2% | 2 |
52-week range: ₹32.72 – ₹66.66 (-24.57% from the high).
🌀 Fibonacci
Measuring the up-swing from ₹43.00 (2026-06-04) to ₹66.66 (2026-08-06). Price has retraced 69.2% of it.
| Ratio | Price | Distance | |
|---|---|---|---|
| 23.6% retracement | ₹61.08 | +21.5% | |
| 38.2% retracement | ₹57.62 | +14.6% | |
| 50.0% retracement | ₹54.83 | +9.1% | |
| 61.8% retracement | ₹52.04 | +3.5% | nearest |
| 78.6% retracement | ₹48.06 | -4.4% | |
| 127.2% extension | ₹73.10 | +45.4% | |
| 161.8% extension | ₹81.28 | +61.7% | |
| 200.0% extension | ₹90.32 | +79.6% |
🕯️ Candlesticks (last 5 sessions)
- Doji 2026-11-11 neutral Weak · 20
- Inverted Hammer 2026-11-06 bullish Strong · 75
Quality combines the pattern's reliability with its context: prior trend, volume, a support/resistance level and RSI.
↗️ Divergences
No regular divergence on RSI, MACD, OBV, MFI or Stochastic at the latest swings.
✅ Screens ELGIRUBCO passes today
⚠️ Educational technical analysis computed automatically from end-of-day NSE prices — not investment advice. Flash Finance is not SEBI-registered. Indicators describe what price has done; they do not predict what it will do. Verify levels on a live chart and manage risk before acting.
