SAFARI | TECHNICAL ANALYSIS

Safari Industries (India) Ltd – 1D Chart Analysis

🔹 Trend Overview: Safari Industries has shown a strong bullish reversal after retesting its major support around ₹1,994. The price action indicates accumulation at lower levels, followed by a sharp move upward. The broader trend remains sideways to mildly bullish, with the stock now approaching its supply zone near ₹2,298. 🔹 Key Levels: Strong Support Zone: ₹1,994 Supply Zone: ₹2,298 Resistance Level: ₹2,506 🔹 Price Action Insight: The stock rebounded strongly from its base near ₹1,994 with long bullish candles, suggesting renewed buyer strength. The price has successfully reclaimed short-term moving averages, showing early signs of trend continuation. If it sustains above ₹2,180, the next targets could be ₹2,298 and ₹2,506. 🔹 Indicator Analysis: EMA: Price trading above key EMAs; trend is bullish. RSI: Momentum oscillator showing strength, confirming renewed buying interest. Parabolic SAR: Below price candles — confirms trend continuation. MACD: Bullish crossover indicates strong positive momentum. 🔹 Volume & Momentum: Volume spike during the bounce from support validates institutional buying interest. Momentum indicators show convergence with the price trend, adding conviction to the upside. 🔹 Expected Move: Sustained move above ₹2,180 can take the stock toward ₹2,298 and ₹2,506 levels in the short term. ✅ Final Verdict: BUY near ₹2,100–₹2,180 with targets ₹2,298 → ₹2,506 and SL ₹1,994. Stock remains in a bullish reversal phase, supported by strong demand and indicator confirmation.