Cholamandalam Financial Holdings – Technical View

The stock

is currently in a sideways-to-bearish trend on the daily chart. After falling from the ₹1700–1800 zone price made a low near ₹1450 and has recently shown a small recovery. However the broader structure is still weak until it starts forming higher highs above ₹1600–1650. Support: Immediate support is placed around ₹1500–1480 where buyers have recently appeared. The stronger support zone is ₹1450–1430. If ₹1430 breaks decisively selling pressure can increase and the stock may move toward ₹1400. Resistance Immediate resistance is around ₹1560–1600. Above this, ₹1650–1680 is the next important supply zone followed by ₹1700. A breakout above ₹1680–1700 with strong volume would indicate a stronger bullish reversal. Short-Term Buyers: Buyers should avoid aggressive entries at current levels and preferably wait for a decisive breakout above ₹1600 or a confirmed reversal near ₹1480–1500. A breakout with volume can open the way toward ₹1650–1700. Below ₹1450 the bullish setup becomes weak.