📈 Subros – Strong Rally, but Volatility Emerges Near Resistance

🚩 1. Rally into Multi-Year Resistance The stock surged above ₹1,050 but faced immediate rejection near the red upper trendline and historical resistance zone around ₹983–₹1,000. This area has acted as a significant supply zone in the past. 🚩 2. Mid-Channel Re-Test Underway After rejecting from the upper trendline, price dipped and retested the black mid-channel zone around ₹850–₹825, which is also a confluence of horizontal support. This makes it a key demand zone short-term. 🚩 3. RSI Bounce Off 60 Zone The RSI cooled off from near 80 and is trying to stabilize above 60, a typical bullish continuation zone in trending stocks. Holding this region may encourage another attempt to break past the ₹1,000 mark. ⚠️ Short-Term View “Retest successful so far, but price needs to reclaim ₹925+ with volume for bullish momentum to resume.” A failure to do so may keep it range-bound between ₹850–₹983. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.