KIRLOSKAR OIL ENGINES LTD – Pullback Rally or Trend Resumption? 🔄📈

📊 Weekly Chart Technical Analysis: ✅ Strong Bounce from 200-Week Moving Average (₹600 zone) The stock has staged a solid rebound from the long-term moving average support, which historically has acted as a major accumulation zone. ✅ 10% Weekly Gain – High Momentum Candle Last week’s +10.24% move with a close near the highs shows buying strength and strong rejection of lower levels. ✅ Base Formation Between ₹750–₹950 The stock is forming a broad consolidation base after a sharp correction from its peak of ~₹1,540. This consolidation is showing signs of a higher low and fresh buying interest. ✅ Resistance Zone at ₹950–₹980 A breakout above this zone can open targets toward ₹1,100–₹1,200, and eventually a retest of all-time highs (~₹1,540) if momentum sustains. 🔁 Bullish Signals: 🟦 Price above 200-week MA (₹600.90): Long-term bullish bias remains intact 🕯️ Strong candle with volume likely signals institutional entry 🧭 Trend shift possible if breakout sustains above ₹950 🚩 Watchlist Triggers: 📈 Breakout Confirmation: Weekly close above ₹960 📉 Support Zone: ₹850 – ₹810 (pullbacks here may offer entry with risk-managed stop) ✅ Conclusion: Kirloskar Oil Engines Ltd is showing a technical reversal from long-term support, coupled with momentum resurgence. If it breaks above ₹950 decisively, the next impulse wave could take it back toward ₹1,200+. Keep this on your watchlist for breakout confirmation.