CARE Ratings

Technical Analysis Trend: Long base formation after prolonged downtrend. Major Support: ₹1500–₹1550 accumulation zone. Immediate Support: ₹1620. Resistance: ₹1667 → ₹1750 zone. Structure: Higher low formed; price trying to break upper range. Bias: Sideways to positive. Fundamental Analysis Leading domestic credit rating agency. Revenue depends on corporate borrowing and bond issuance. High operating margins and asset-light model. Cyclical — earnings improve when credit growth improves. Summary: Fundamentally stable, technically attempting a reversal.