Gallantt Ispat – Weekly Breakout Resumption After Consolidation

is showing a strong continuation setup on the weekly timeframe, with price resuming uptrend after a healthy consolidation phase and backed by fresh volume expansion. Technical Structure (Weekly) The stock is transitioning from uptrend → consolidation → breakout continuation. Key observations: • Strong prior uptrend followed by time-wise correction (sideways phase) • Recent bullish candle → breakout from consolidation zone (~₹600) • Volume expansion confirming fresh participation • Price trading above EMA (~₹570) → trend strength intact • Structure intact with higher highs & higher lows • Stoch RSI moving upward → momentum pickup Key Levels to Watch Immediate resistance: ₹680–700 zone • Sustained breakout above ₹700 → Target 1: ₹780–820 Target 2: ₹900+ Support levels: • Immediate: ₹580–600 (breakout zone) • Strong support: ₹520–550 Holding above ₹580 is key to maintain bullish continuation. Trend Insight 👉 This is a trend continuation breakout, not a fresh reversal • Consolidation has helped cool off previous overbought conditions • Momentum is rebuilding again • Ideal entries often come on minor pullbacks to ₹580–600 zone Fundamental Perspective Gallantt operates in: • Iron & steel products • Integrated steel manufacturing • Power generation (captive) Key positives: • Beneficiary of infrastructure & capex cycle in India • Integrated operations → cost efficiency advantage • Improving steel demand domestically • Potential margin expansion during favorable steel cycles ➡️ Gallantt is showing a clean weekly continuation breakout, indicating strength in the ongoing trend. Sustaining above ₹580–600 can open the path for ₹700+ breakout and higher targets