Technical Analysis Jyothy Labs

The stock

is showing a sideways to mildly bullish setup on the daily chart. After a sharp fall from the ₹270 zone the stock found strong support around ₹188–195 and has been consolidating with gradual higher lows. The recent sharp bounce toward ₹215 shows renewed buying interest but the stock is still below its major resistance levels. Support & Resistance: Immediate support is around ₹202–200 followed by stronger support near ₹195–190. On the upside, ₹212–215 is the immediate resistance zone. A sustained close above ₹215 can push the stock towards ₹225–230 followed by ₹240. The larger resistance remains around ₹250–255. Short-Term Outlook: The setup is cautiously bullish above ₹200. Fresh buying can be considered near ₹200–202 if the stock shows a bullish reversal or after a strong breakout above ₹215 with volume. Existing holders can continue holding with a trailing stop-loss around ₹195. A decisive close below ₹195 would weaken the recovery structure and may bring ₹188–190 back into focus.