TD Power bounces from trendline after profit doubles

TD Power Systems Q2 profit rose 105.6% to Rs 123.75 crore. The stock bounced from its rising trendline and closed at 625.90. Support is at 557 and resistance at 690. TD Power Systems Limited [ TDPOWERSYS ] reported Q2 consolidated profit up 105.6% year on year to Rs 123.75 crore, against Rs 60.2 crore. Revenue grew 85.94% to Rs 841.3 crore from Rs 452.5 crore. On the daily chart, the stock corrected from its October high near 850 and found support at a rising trendline drawn from the February lows. The low near 557 held that line, and the stock bounced to close at Rs 625.90, up 2.62%, on volume of 10.72 million shares. RSI at 41.40 is turning up from lower levels but is still below 50. In my view, the bounce keeps the broader uptrend intact while price holds above 557. A move above 690 resistance would bring the October highs back into focus. A close below 557 would break the trendline and put a deeper pullback in view. Stance: cautiously bullish while 557 holds, with 690 as key resistance. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.