EVEREADY

Fundamental View-

Industries is showing a positive short-term setup on the daily chart, with the stock recently forming a strong bullish candle and closing above both its 14-day and 55-day EMAs, indicating strength. The Parabolic SAR dots have shifted below the price, suggesting a short-term trend reversal in favour of the bulls. The MACD is in mild positive territory and is attempting to cross above the signal line, although a strong bullish crossover is yet to be confirmed. Additionally, the RSI stands at around 57.28, reflecting improving strength with scope for further upside as it remains below the overbought zone. Overall, the chart structure suggests that the stock has room for further gains if it sustains above key support levels. Technical View- As observed on the daily chart, the stock is taking strong support near its 14-day and 55-day EMAs, indicating a positive structure in the short term. The stock made a low of ₹310.25 on 1st July, after which continuous buying has been witnessed. On 4th July, the stock opened at ₹320.00, made a low of ₹317.80, touched a high of ₹325.55, and closed at ₹317.80. The stock is holding firmly above its 14-day and 55-day EMAs on the daily chart, which reflects strength in its price action. Both MACD and RSI are indicating positive momentum, further supporting the bullish structure visible on the chart. Given the current setup, any dip towards lower levels could be considered a good buying opportunity. From a short-term perspective, fresh entry can be initiated with a stop-loss below ₹315.00. On the upside, the stock has the potential to retest the ₹340.00 - ₹345.00 levels in the coming sessions. Warning- ***** ***** *****