Shilpa Medicare – Technical Analysis, Support and Resistance

The stock

is in a strong bullish trend on the daily chart. The stock has moved sharply from around ₹600 to above ₹1,000 and continues to form higher highs and higher lows. The latest close is around ₹1064 near its recent high zone. Support & Resistance: Immediate resistance is around ₹1095–1100 near the recent high. A sustained breakout above this zone with strong volume can indicate further continuation. On the downside ₹1030–1040 is the first important support, followed by ₹1000–1010. A deeper correction can find support around ₹950–970. Technical data also places support near ₹1029 and resistance around ₹1070–1093. Short-Term Buyers & Holders View: For short-term buyers, the current move is already extended so chasing after a sharp rally carries higher volatility. Price holding above ₹1030–1040 would keep the bullish structure intact. A breakout and sustained close above ₹1100 can strengthen momentum. Conversely a breakdown below ₹1000 can indicate a deeper short-term correction.