The stock $CESC is in a short-term downtrend after correcting from its recent high near ₹200. However the stock is now showing signs of stabilizing around the ₹160–₹165 zone where buying interest has started to emerge. The recent price action indicates consolidation after the decline. While the selling pressure has reduced the stock needs to break above key resistance levels to confirm a bullish reversal. Immediate support is placed around ₹160–₹162 which has acted as a strong demand zone in recent sessions. If this level breaks the next support is near ₹150–₹152. On the upside, immediate resistance is at ₹170–₹173 followed by a stronger resistance near ₹180–₹185 where sellers were previously active. The stock is consolidating near support making the current structure stable but not yet bullish. Traders can watch for a breakout above ₹173 for fresh buying momentum. Existing investors may continue to hold while the stock remains above ₹160 whereas a close below this level could lead to another corrective move. Volume Analysis: The sharp rally in May was supported by strong volumes but recent consolidation has come with relatively lower volumes. A volume-backed breakout above ₹173 would strengthen the bullish outlook.

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