Gabriel India – Technical View, Support and Resistance

The stock

is showing a medium-term bullish structure, but the stock is currently in a short-term correction after making a high near ₹1580. The stock rallied strongly from the ₹850–900 zone and formed higher highs and higher lows up to the August peak. After that price started making lower highs and lower lows indicating short-term selling pressure. Support: ₹1300–1320 is the immediate support zone. If this zone holds the stock can attempt a recovery. Below ₹1300 the next important support is around ₹1200–1250. Resistance: ₹1400–1450 is the immediate resistance zone. A sustained breakout above this area can improve the short-term structure and open the way towards ₹1500–1580. At the current level around ₹1346 the stock is close to support but has not yet confirmed a fresh bullish reversal. For buyers a strong move above ₹1400–1450 with good price strength would provide better confirmation. A breakdown below ₹1300 can increase downside pressure towards the next support zone.