Schaeffler India steady growth with breakout signals

operates in the automotive and industrial sector, specializing in automotive components, bearings, and industrial solutions. It is a key player in motion technology, drivetrain systems, and precision engineering for industries like automotive, aerospace, railways, and manufacturing. On the financial front, Schaeffler India reported a 13.95% YoY increase in consolidated net sales, reaching ₹2,136.06 crore in December 2024, compared to ₹1,874.55 crore in December 2023. Net profit rose 13.2% YoY to ₹237.28 crore, while EBITDA grew 14.37% YoY to ₹405.21 crore. The company's EPS improved to ₹15.20 from ₹13.40 in the same period last year. Technically, the daily and weekly charts of Schaeffler India (NSE: SCHAEFFLER) indicate a potential breakout from a descending channel pattern. On the daily chart, the stock has breached the upper resistance of the downward-sloping channel, supported by rising price action and a slight increase in volume. The 9-day EMA (₹3282.26) and 70-day EMA (₹3301.20) are converging, while the 100-day EMA (₹3364.10) acts as a near-term resistance. The RSI at 62.71 suggests momentum is building but is not yet in the overbought zone. On the weekly chart, the stock has found support near the 100-week EMA (₹3394.75) and is attempting to reclaim the 70-week EMA (₹3545.08), indicating medium-term recovery potential. The RSI on the weekly chart is at 48.66, suggesting neutral momentum but a possible reversal if the price sustains above resistance levels. A decisive close above ₹3400–₹3450 could trigger further upside, targeting ₹3600–₹3800 in the coming weeks. However, failure to sustain above the breakout level could lead to a retest of ₹3200–₹3100 as support. I have attached the daily chart for your reference. Please direct message me, as I won’t be able to respond to each comment individually. Follow me for more such updates, Thank You!