Kalyan Jewellers breaks out above ₹630 resistance

KALYANKJIL Kalyan Jewellers has delivered a sharp breakout above the ₹620–₹630 resistance zone and closed near ₹663.75. The move comes after the stock formed a base around ₹500–₹520 and then reclaimed the earlier consolidation range. This breakout has changed the short-term structure decisively in favour of buyers. Price is well above the 20-day moving average near ₹602.97 and the 50-day moving average around ₹545.01. The distance from these averages confirms the strength of the current upmove, but it also shows that the stock has become extended in the short term. The Z-score is near 2.77, which is above the +2 overbought band. This does not invalidate the breakout, but it increases the chance of profit-booking or consolidation after the vertical move. A pullback that holds above ₹630 would be constructive and would turn the old resistance into support. Above ₹664, the next visible zone is ₹680–₹700. On the downside, ₹630 is the first key support, followed by ₹603. The breakout remains strong, but price should ideally consolidate above ₹630 rather than fall back below it.