Allied Blenders & Distillers Ltd – Bullish Breakout Setup

Allied Blenders & Distillers Ltd is showing a constructive bullish setup after breaking out from a falling-wedge formation. The breakout is accompanied by improving volume and positive price action, indicating increasing buying interest. The stock is currently trading around the ₹685 zone and remains above its key support areas, while momentum continues to remain strong. 🔎 Technical View: • Falling-wedge breakout visible • Strong bullish candle formation near ₹685 • Price sustaining above important support zones • RSI near 70, indicating strong momentum • Increasing volume suggests improving buying participation 🔑 Key Levels: • Support: ₹673–658 • Major Support: ₹649–644 • Resistance: ₹703–718 🚀 Upside Targets: ₹703 | ₹718 | ₹733+ 📈 Bullish Scenario: A sustained move and acceptance above the ₹703 resistance zone may strengthen the breakout structure and potentially open the way toward ₹718 and ₹733+ levels. 📉 Risk: A decisive breakdown below ₹658 may weaken the current bullish setup and could bring the lower support zones into focus. Overall, the technical structure remains positive, with the falling-wedge breakout, improving volume and strong momentum providing constructive signals. However, confirmation above the key resistance zone remains important for further upside. ⚠️ For educational purposes only. This is not a buy/sell recommendation. Please conduct your own research and consider your risk profile before making any investment decision. — AALGO BREATHS 📊