PARAS

Rebounds from 200-Day Moving Average, Signals Potential Recovery

witnessed a strong rebound today, closing at ₹652.60 with a gain of 4.50%, signaling early signs of buying interest after a sharp decline. The stock has taken support near ₹608.50, which is also close to the 200-day moving average around ₹608, a level that often acts as a long-term support zone. Today’s bounce, supported by a rise in volume, indicates that buyers are stepping in at these lower levels. The RSI has inched up to 36.94 from oversold territory, suggesting improving momentum. Price is still below the 20-day EMA (₹713.51) and 50-day EMA (₹720.83), so a decisive close above these levels could confirm a short-term trend reversal. Immediate supports lie at ₹608.50 and ₹573.66, while resistance is placed at ₹713.51 and ₹720.83. Sustaining above the 200-day moving average strengthens the case for a potential recovery toward ₹868 in the coming weeks. overall view is BULLISH and 200 moving average will act as an important support level