eMudhra Update: 654 Resistance Tested, Cools Off

Following our earlier commentary on

trendline breakout, the stock went on to test the 654 resistance zone flagged at the time, touching a high near 677 before correcting slightly to settle at 613.45. This is a textbook instance of a prior support level acting as a resistance on the first approach, with the stock cooling off rather than breaking through in one attempt. Resistance: 654, then the 830 the next reaction touch point of the trendline from the earlier downtrend. Support: 565, then 515-530. RSI at 64.52 remains in bullish territory, suggesting the broader momentum from the trendline breakout is still intact even as price digests the move near resistance. Whether the 654 zone gets taken out on a subsequent attempt, and whether the 565 support continues to hold on any deeper pullback, will be the things to track from here. Resistance levels are rarely cleared on the first test — a pause or pullback at a flagged level is a normal part of price discovery, not necessarily a failure. Disclaimer:This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.