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Unite Technologies Financial

1st Aug · SEBI-Registered Analyst

Technical Analysis Atul Auto Ltd.

The stock

ATULAUTO
has been trading in a wide sideways range for several months after a prolonged downtrend. Recently the stock has started making higher lows and is attempting to break above the upper boundary of its consolidation zone. The latest price action shows improving buying interest but a confirmed breakout is still needed to establish a fresh uptrend. Momentum is improving although volumes should expand further to validate the move. The immediate support zone is around ₹495–500 where buyers have repeatedly entered and protected the price. A stronger support lies near ₹470–475 which has acted as a key demand area during previous corrections. On the upside ₹525–530 is the first major resistance and a decisive close above this zone can trigger fresh buying. If the breakout sustains the stock may move towards ₹550–570 in the coming weeks. The stock is showing signs of accumulation after a long consolidation. Price is gradually forming higher lows indicating that selling pressure is reducing. Fresh buying can be considered only after a convincing breakout above ₹530 with strong volume. Aggressive traders may accumulate near support with strict risk management. A close below ₹495 would weaken the current setup and may lead to another phase of consolidation.

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