Rites

RITES Ltd. has given a strong breakout from the recent consolidation zone near ₹200, which had been acting as a key support level. After successfully retesting this breakout area, the stock witnessed strong buying interest and has rallied sharply towards ₹230, indicating improving bullish momentum. The recent wide-range bullish candle with higher volumes (if supported by volume data) suggests that buyers are in control. As long as the stock sustains above ₹220–₹225, the positive trend is likely to continue, with ₹240–₹250 emerging as the next important resistance zone, while ₹200 remains the key support and demand area for the ongoing uptrend.