Finolex Cables: Bullish Momentum Strengthens

is showing a strong technical recovery on the daily chart, with the stock currently around ₹1,418 after gaining nearly 4.8%. The price has decisively moved above the 10-EMA (₹1,299), 20-EMA (₹1,261) and 50-EMA (₹1,181), indicating improving short- to medium-term momentum. The stock is also comfortably above its 100-DMA and 200-DMA, keeping the broader trend positive. The recent price action shows a clear sequence of higher highs and higher lows after the earlier consolidation phase. MACD has turned positive, with the MACD line above the signal line, supporting the ongoing momentum. RSI at around 68 indicates strong buying pressure, although it is approaching the overbought zone, so some short-term consolidation cannot be ruled out. Technically, ₹1,400–1,380 is an important near-term support zone. As long as the stock sustains above this area, momentum can remain positive. On the upside, ₹1,500 is the first psychological hurdle, followed by the previous swing zone around ₹1,600–1,650. A sustained breakout above ₹1,500 could therefore open the way for a move towards the higher resistance zone. Overall, the chart structure remains bullish, but after the sharp rise, fresh entries should preferably be considered on dips or after a sustained breakout rather than chasing the price.