ACME Solar holds above a multi-month breakout zone!

ACME Solar holds above a multi-month breakout zone ACME Solar Holdings Limited (NSE: ACMESOLAR) recently broke above a multi-month horizontal resistance zone near ₹415 and moved to ₹435.25, supported by a sharp increase in buying volume. The stock was trading above its 20, 50, 100 and 200-day EMAs, while RSI stood at 66.49. The September 20 technical setup placed the buying zone at ₹435-₹438, with ₹411 as the stop-loss reference and ₹480 as the stated target. Why it matters The important technical development is the move above the previous horizontal resistance. Price remaining above the major EMAs also shows that the breakout is supported by the broader trend structure. My view My view is that the ₹435-₹438 area is important after the breakout. If this zone holds during any consolidation, the previous resistance can potentially act as support. A move back below ₹411 would materially weaken the setup.