Bikaji Foods - Reversal expected, strong support

is currently approaching a crucial support confluence on the daily chart, with price trading around ₹612 and finding support from two important technical structures. The horizontal support near ₹600–605 has acted as a strong demand zone on multiple occasions, while the rising trendline from the 2025 lows is also converging around the same region, creating a multiple-support setup. This confluence makes ₹600 particularly important, as a sustained hold here can trigger a meaningful rebound and improve the risk-reward for the stock. The broader business remains supported by strong demand for branded packaged snacks, increasing consumption of traditional Indian food products and the continued shift from unorganised to organised food brands. Bikaji's established brand presence and expanding distribution network provide a constructive long-term backdrop, although valuation and competitive intensity remain important factors. Technically, the stock has corrected from the ₹680–700 zone and is now testing the ₹600–605 support area. A strong reversal from this zone could first target ₹640–660, followed by ₹680–700, while a decisive breakout above ₹700 would improve the larger trend. Conversely, a sustained close below ₹600 and the rising trendline would weaken the setup and could expose the stock to ₹570 and subsequently ₹550. For now, the multiple-support confluence around ₹600 is the key level to watch for a potential trend reversal.