Lemon Tree Hotels: Early Rebound Above the Moving Averages

closed at ₹107.51 on 22 September, gaining 1.4%. The stock has rebounded from the recent low near ₹102–₹103 and is attempting to stabilise after the decline from the July high around ₹120. The key development is that price has moved above both short-term averages. The 20-day moving average is at ₹105.48, while the 50-day moving average is at ₹105.62. The two averages are very close together, which means the earlier downtrend has lost momentum. Price holding above this ₹105.50 area would allow the moving averages to turn into support. The immediate resistance is ₹108.50–₹110, where the stock has faced repeated selling in recent sessions. A sustained close above ₹110 would improve the structure and could open the way towards ₹112 and then ₹114. The 20-day average is rising faster than the 50-day average, so a bullish crossover would add further confirmation if price remains above the current support zone. On the downside, ₹105.50 is the first level to watch. Below that, ₹103 is the recent swing low and the line that protects the current rebound. A close below ₹103 would bring the September low near ₹102 back into focus. Lemon Tree benefits from the continued growth in domestic travel and organised hotel demand. The chart is not yet in a full uptrend, but it is showing an early recovery pattern: price has reclaimed the moving averages, and the next confirmation would come through a breakout above ₹110.