Cupid Ltd: Bulls Regain Momentum, Is Another Rally Ahead?

Cupid Ltd witnessed a strong recovery in today's session, gaining nearly 4.91% to close at ₹340.50. The stock is showing signs of renewed buying interest after a recent consolidation phase following its sharp October rally. From a technical perspective, the broader trend remains positive, with the stock comfortably trading above its 20 EMA (₹323.85), 50 EMA (₹301.27), 100 SMA (₹258.98) and 200 SMA (₹178.56). The bullish moving-average alignment indicates that the medium- to long-term trend remains intact. The RSI has recovered to 59.84, moving above its average of 57.85, suggesting improving bullish momentum without entering the overbought zone. However, the MACD remains below its signal line, with a negative histogram, indicating that the momentum recovery is still developing. ADX at 18.95 also suggests that the current trend strength is relatively weak. The Bollinger Band structure places the upper band near ₹372.85 and the middle band around ₹355.53. A sustained move above ₹355–356 could strengthen the bullish case, potentially opening the way towards ₹370–373. Key technical levels: Immediate Support: ₹326–324 Strong Support: ₹301–298 Immediate Resistance: ₹355–356 Next Resistance: ₹372–373 My View: Cupid continues to maintain a positive broader structure, supported by its strong moving-average alignment. The recent recovery is encouraging, but confirmation above ₹355–356 is important for the next bullish leg. Traders should watch volume expansion and MACD improvement for stronger confirmation. A sustained move below ₹323 may weaken the near-term setup. Disclosure: The analyst or his family does not have any position in the stock. Disclaimer: This article is for educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security.