Technical Analysis Anand Rathi Wealth Ltd.

The stock is

has been in a strong primary uptrend since April 2025 moving from roughly ₹1800 to a peak above ₹3300. Since October/November the stock has entered a consolidation phase. It is currently making lower highs suggesting that the aggressive buying momentum has slowed down. The zone between ₹3200 and ₹3350 is a heavy supply zone. The stock has struggled to stay above this level multiple times. There is visible support around ₹2800 – ₹2850. You can see long wicks (the thin lines at the bottom of the candles) in early February which shows that buyers stepped in quickly when the price dropped to this level. Major Support the ₹2600 level acted as a floor during the December dip. The stock is currently trading near ₹2989. It has recently bounced off the ₹2800 support and is attempting to move back toward the ₹3,100 level. This isn't a crash but rather a healthy time correction. The stock is sideways allowing moving averages to catch up to the price. New Buyers It might be wise to wait for a breakout above ₹3150 with high volume or look for an entry closer to the ₹2800 support. Holders as long as the stock stays above ₹2800 the structure remains positive. A break below ₹2700 would be a signal of weakness. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.