Tejas Networks: Strong Breakout Momentum

has witnessed a strong bullish move, gaining more than 8% in the latest session and closing near ₹614. The stock has shown a sharp recovery from its recent lows and is now trading above its key short- and medium-term moving averages, indicating improving technical strength. The immediate resistance is visible near ₹643, which is an important breakout level. A sustained move and close above ₹643 could strengthen the bullish momentum further and may open the door for higher levels in the coming sessions. On the downside, the ₹570–₹550 zone remains an important support area, supported by the 10-day and 20-day moving averages. A fall below this zone could weaken the current positive structure. Momentum indicators are also supportive. The MACD has turned positive and is showing improving bullish momentum. However, the RSI is near 72, indicating that the stock has entered an overbought zone. Therefore, some profit booking or short-term consolidation cannot be ruled out after the sharp rally. Outlook The overall short-term outlook remains bullish as long as Tejas Networks holds above the ₹550–₹570 support zone. Traders should watch ₹643 closely, as a decisive breakout above this level could trigger the next leg of the upmove. However, considering the elevated RSI, fresh entries may be better considered on confirmation of breakout or on dips rather than chasing the stock after a sharp rise.