🔋 Amara Raja Energy – Key Resistance Test After Wave 5 Top

📊 Technical Analysis The stock completed a Wave 5 rally near ₹1,750 in 2024, followed by a long corrective phase. Currently, price is consolidating between ₹950–₹1,100, with ₹1,102 acting as a strong resistance zone. A weekly close above ₹1,102 could signal the end of correction and start of a fresh uptrend. 200-week moving average at ₹734 remains a strong long-term support zone. Volumes are gradually rising, indicating accumulation near support levels. 💡 Fundamental Strength Amara Raja is a leading battery & energy storage company, now expanding into EV batteries and mobility solutions, a high-growth sector. Strong cash flows, healthy balance sheet, and capacity expansion plans support long-term growth. With the EV adoption story in India, the company is well-positioned for structural demand. 📌 Conclusion: Stock is at a crucial breakout level. Sustained move above ₹1,102 can trigger a medium-term rally toward ₹1,250–₹1,350, while downside remains protected near ₹950–₹970 support.