Kalyan Jewellers has witnessed a sharp breakdown on the 4-hour chart, falling nearly 2% and closing at ₹530, well below the previous support zone around ₹560. The stock broke down with a strong bearish candle, indicating intense selling pressure. The next major support lies near ₹500, which also aligns with a previous breakout level. Unless the price recovers above ₹560 quickly, the momentum remains bearish, and the stock could test the ₹500 mark in the near term.