PG Electroplast (W): Descending Channel Structure & DownsidePG Electroplast LimitedNSE_DLY:PGELgk_peacockwealthTitle: PG Electroplast (Weekly): Descending Channel Structure & Downside Roadmap Description: Analyzing the weekly structure of PG Electroplast Limited, the price action is respecting a prominent descending channel. The technical outlook remains predominantly bearish in the short-to-mid term. Technical Observations: Immediate Hurdle: The price is facing resistance near the upper band of the channel. We categorize this as intermediate resistance within the descending channel; high probability of trend continuation downwards. Ultimate Support: Our focus remains on the lower structural zone. This area is the Critical Demand Zone & Strong Historical Support Base, where we anticipate maximum buyer interest. Contingency: A breach below this critical base validates a potential move to the Projected Downside Objective marked at the lower level. Verdict: Bearish outlook continues within the channel boundaries. Keep a close watch on price reaction at the Critical Demand Zone. Disclaimer: Educational analysis based on weekly price action. Not financial advice.