Technical Analysis Edelweiss Financial Services

The stock

is showing a bullish recovery structure on the daily chart. After finding support near ₹100–105 the stock has formed higher highs and higher lows. The recent move from around ₹115 to ₹129 indicates strong buying momentum and price is now approaching an important resistance zone. Support & Resistance: Immediate support is around ₹124–122 followed by stronger support near ₹118–116. On the upside ₹130–132 is the key resistance zone. A strong daily close above ₹132 with good volume can open the way towards ₹136–140 while ₹144 could act as the next major resistance. Short-Term Outlook: The setup remains bullish above ₹122. Fresh buyers can consider a sustained breakout above ₹132 with volume or wait for a pullback towards ₹122–124 with a bullish reversal. Existing holders can continue holding with a trailing stop-loss around ₹118. A decisive close below ₹118 would weaken the bullish structure and may lead to a correction towards ₹112–108.