Gallantt Ispat bounces from Rs 500 support on heavy volume

Gallantt Ispat rose as much as 18 percent in morning trade on 12 October 2026 from the Rs 500 support, but the trend stays down below Rs 644. Gallantt Ispat Limited [

] rose as much as 18 percent in morning trade on 12 October 2026, even as the broader market stayed weak. At the time of writing it trades near Rs 579, up about 15 percent, close to a one month high. The market has not closed yet. The move came from the Rs 500 support, which has held on repeated tests since late 2025. The daily chart shows volume of 16.75 million, far above the recent days, and RSI has jumped to about 61. The wider picture is still weak. After the April 2026 peak, the stock has made lower highs and lower lows, and Rs 644 is the resistance from the August swing high. One strong session does not change that structure. What next: the closing level matters more than the intraday high. A close above Rs 644 with volume may turn the structure better. A fall back below Rs 500 may bring the selling back. Conclusion: the bounce is a positive first sign, but the trend stays weak until the price closes above Rs 644. Disclosure & Disclaimer: I and my family members do not hold any position in the stock discussed. This content is provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.