Granules India Ltd. – Technical Outlook (Positional

$GRANULES continues to maintain a strong long-term bullish trend, supported by a series of higher highs and higher lows on the daily chart. After a sharp rally towards the ₹910 zone, the stock witnessed healthy profit booking and corrected to the ₹845–855 support area, where buying interest has re-emerged. The latest bullish candle indicates that the correction may be nearing completion, with buyers once again taking control. Technically, the stock is trading comfortably above its 10 EMA, 20 EMA and 50 EMA, while remaining well above the 100 SMA and 200 SMA, highlighting the strength of the prevailing uptrend. The moving averages are positively aligned, suggesting sustained momentum. The Bollinger Bands indicate that the recent pullback has eased the overbought conditions, creating room for another leg of the rally. Meanwhile, the RSI has rebounded near the 60 level and crossed above its signal line, reflecting improving momentum without entering the overbought zone. The immediate support for the stock is placed at ₹845–855, followed by a stronger support near ₹820. On the upside, ₹900–915 remains the key resistance zone. A decisive close above this level with healthy volumes could trigger fresh momentum and open the path towards ₹940, followed by ₹975–1,000 over the coming weeks. Overall, the technical structure remains positive, and the recent correction appears to be a healthy consolidation within a broader uptrend. As long as Granules India sustains above ₹845, the outlook remains bullish, with a buy-on-dips strategy continuing to favour positional investors.