Thermax - Keep on your watchlist Thermax Limited.NSE:THERMAXvinaygupta478THERMAX — Technical View CMP: ₹3,682 Trend: 🔴 Bearish Strong correction from ₹5,278; price remains below both falling trendlines. RSI: ~40 on weekly / ~31 on daily → weak, though daily is near oversold. Key levels 🟢 Support: ₹3,550–3,600 Next support: ₹3,200–3,300 🔴 Resistance: ₹3,800–4,000 Major resistance: ₹4,350–4,450 Targets if ₹3,550 breaks: ₹3,300 → ₹3,000 Bullish reversal only above: ₹4,000, preferably with volume. My view: 🔴 SHORT / AVOID At ₹3,682, I would not take a fresh long. The risk-reward improves only after a confirmed breakout above ₹4,000. Technical rating: 6.0/10 Bottom line: SHORT bias below ₹4,000; avoid aggressive shorting near ₹3,550 support. A decisive break of ₹3,550 would make the bearish setup considerably stronger.