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Elitecon Inter. (ELITECON) — Technical Setup
₹6.56 -3.95% Strong Downtrend Volatility Contraction Strong bearish
Summary
Elitecon Inter. is in a strong downtrend on the daily chart. RSI(14) is 35.9, MACD is above its signal line, ADX reads 27 (trending). Volume in the latest session was 0.6× its 20-day average. Over three months it has underperformed the Nifty 50 by 54.2 percentage points. Nearest support is ₹6.20 and resistance ₹7.08. Its technical score is 16/100 (strong bearish).
🧮 How the 16/100 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 (-8.67)0/3
- 20-day EMA above 50-day EMA0/3
- 50-day EMA above 200-day EMA0/3
- Close above 200-day SMA0/3
- SuperTrend (10,3) pointing up0/3
- ADX ≥ 20 with +DI above −DI (trend has strength) (26.86)0/3
- Weekly trend up (above a rising 30-week average)0/2
- RSI(14) in the bullish zone (55-70 best) (35.91)0/6
- MACD line above its signal line4/4
- MACD line above zero (-0.63)0/3
- 12-day rate of change positive (-7.87)0/3
- Stochastic %K above %D2/2
- Outperforming the Nifty 50 over 3 months (-54.19)0/2
- On-balance volume rising over 20 sessions0/5
- Chaikin Money Flow (20) positive (-0.27)0/5
- More volume on up days than down days (20 sessions) (0.43)0/5
- Close above 20-day VWAP (-7.87)0/5
- Daily range (ATR%) contained — ≤2.5% scores full (7.26)0/6
- Price in the upper half of its Bollinger Bands (0.15)0/5
- Shallow drawdown from the 52-week high (-85.86)0/5
- Volatility contracting (20-day volatility below its 6-month median) (43.00)4/4
- Room to the next resistance (≥8% scores full) (7.93)3/5
- Support close below (a tight, definable stop) (5.49)3/5
- Broke above a 20-day high in the last 5 sessions0/5
- Within 5% of the 52-week high (-85.86)0/5
🧭 Regime: Strong Downtrend
Volatility Contraction — Bollinger width is in the 0th percentile of the last six months.
Suits: Avoid longs / trend-following shorts. A strong downtrend: rallies are usually sold. Long setups need a completed reversal pattern first.
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 ELITECON — supertrend (10,3) flips to an uptrend.
🕰️ Multi-timeframe
| Timeframe | Trend | RSI (14) | MACD hist. |
|---|---|---|---|
| Monthly | — | — | — |
| Weekly | — | — | — |
| Daily | ▼ Bearish | 35.91 | 0.15 |
Weekly: close vs a rising 30-week average (Weinstein). Monthly: close vs the 10-month average. Weekly SuperTrend: —, weekly ADX —.
📶 Volume & VWAP
VWAPs are computed from daily bars (typical price × volume), not intraday ticks. Volume has dried up to under 60% of normal.
💪 Relative strength
ELITECON ÷ 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 | ₹16.60 | +153.1% | 1 |
| Resistance | ₹15.30 | +133.2% | 1 |
| Resistance | ₹9.95 | +51.7% | 1 |
| Resistance | ₹7.08 | +7.9% | 1 |
| Close | ₹6.56 | — | |
| Support | ₹6.20 | −5.5% | 1 |
52-week range: ₹6.20 – ₹46.40 (-85.86% from the high).
🌀 Fibonacci
Measuring the down-swing from ₹38.17 (2026-05-08) to ₹6.20 (2026-10-22). Price has retraced 1.1% of it.
| Ratio | Price | Distance | |
|---|---|---|---|
| 23.6% retracement | ₹13.74 | +109.5% | nearest |
| 38.2% retracement | ₹18.41 | +180.7% | |
| 50.0% retracement | ₹22.18 | +238.2% | |
| 61.8% retracement | ₹25.96 | +295.7% | |
| 78.6% retracement | ₹31.33 | +377.6% |
🕯️ Candlesticks (last 5 sessions)
- Bearish Marubozu 2026-11-02 bearish Moderate · 50
Quality combines the pattern's reliability with its context: prior trend, volume, a support/resistance level and RSI.
↗️ Divergences
- Stochastic %K bullish 2026-10-12 → 2026-10-22₹7.01 → ₹6.20
✅ Screens ELITECON passes today
| Stock | Close | Chg | Score | Trend regime | RS rating (1-99) |
|---|---|---|---|---|---|
| MGELMangalam Global Enterprise Limited | ₹17.32 | +1.88% | 78 | Strong Uptrend | 83.00 |
| NGILNakoda Group of Industries Limited | ₹44.06 | +0.25% | 78 | Uptrend | 88.00 |
| VADILALINDVadilal Industries Limited | ₹7,431.00 | -0.82% | 74 | Range | 90.00 |
| TATACONSUMTATA CONSUMER PRODUCTS LIMITED | ₹1,028.90 | +0.29% | 72 | Range | 50.00 |
| HALDERHalder Venture Limited | ₹272.80 | +1.04% | 70 | Range | 74.00 |
| KMSUGARK.M.Sugar Mills Limited | ₹31.85 | +4.26% | 68 | Uptrend | 80.00 |
| CUPIDCupid Limited | ₹340.50 | +4.91% | 67 | Uptrend | 99.00 |
| DCMSRINDDCM Shriram Industries Limited | ₹61.57 | +0.75% | 66 | Strong Uptrend | 88.00 |
| TASTYBITETasty Bite Eatables Limited | ₹9,423.00 | -3.19% | 65 | Range | 80.00 |
| ABDLAllied Blenders and Distillers Limited | ₹708.25 | +1.43% | 64 | Uptrend | 87.00 |
⚠️ 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.
