PTC Industries sets record high, 24,125 now support

PTC Industries closed at 24,535 after a record high of 24,900, with 24,125 as support and 21,500 as the swing low. PTC Industries Limited

hit a new all-time high of ₹24,900 on the daily chart. The stock opened at ₹24,470, ranged between ₹24,200 and ₹24,900 and closed at ₹24,535, up 0.27%. It closed above ₹24,125, the level that capped price earlier. The price structure is bullish. ₹24,125 was resistance and has now turned into support. Price also bounced from a swing low of ₹21,500 and made a higher high above the earlier peak. RSI is at 67.17, above its average of 56.21. That shows strong momentum, though it is close to overbought territory near 70. Volume on the latest candle is 28.9K, which is light compared to the spikes seen earlier on the chart. My view: the bullish trend should stay intact while price holds above ₹24,125. The safer line for the trend is the swing low of ₹21,500. A close below ₹24,125 would suggest the breakout is failing, and a break of ₹21,500 would change my view. Price is at an all-time high, so there is no old resistance above. The fresh high of ₹24,900 is the level to watch on the upside. My stance stays bullish while ₹24,125 holds. Disclosure: I have no holding or position in this stock. This is not a recommendation. Investments in securities market are subject to market risks. Read all related documents carefully and consult a SEBI-registered advisor before investing.