Technical Analysis Azad Engineering Ltd

The stock

is trading in a strong long-term uptrend supported by a clear pattern of higher highs and higher lows. After a sharp rally over the past few months the stock has recently witnessed some profit booking near its lifetime high. Despite this pullback the overall technical structure remains positive indicating that buyers continue to dominate the trend. The stock is currently trading around ₹2392 comfortably above its previous breakout levels. The recent correction appears healthy rather than a trend reversal. Support & Resistance The immediate support for Azad Engineering is placed around ₹2300–2250 where buyers have stepped in during recent pullbacks. A stronger positional support lies near ₹2160–2100 which also coincides with the previous breakout zone. On the upside the stock faces immediate resistance around ₹2500–2550. A decisive breakout above this range with strong volume can open the door for the next rally towards ₹2650–2700. The overall trend remains bullish and the recent decline looks like a normal correction after a strong rally. Existing investors can continue to hold with a stop-loss below ₹2250. Fresh buying may be considered either on dips towards support or after a convincing breakout above ₹2550 with strong volumes. As long as the stock remains above ₹2250 the broader bullish structure remains intact.