indicates a strong upward trajectory. After a significant correction earlier in the year the stock found a solid bottom around the ₹900-₹1000 range in March and has been forming consistent higher highs and higher lows since then. Strong Breakout the most prominent feature on the chart is the recent powerful breakout. The stock has successfully cleared a major resistance zone that was sitting between ₹1500 and ₹1550.
Immediate Support if there is any minor profit-booking or a short-term pullback the previous resistance zone of ₹1500 to ₹1550 should now act as a strong immediate support base. Immediate resistance with the stock showing strong upward momentum and breaking previous highs psychological round numbers like ₹1650 and ₹1700 will likely act as the next immediate resistance levels.
For Short-Term buyers you can consider fresh entries near the current price or on minor dips toward the ₹1550 support level. Keep a strict stop-loss around ₹1480 to manage risk with immediate short-term targets aiming for the ₹1700 to ₹1750 zone. For Existing holders continue to hold the stock and ride this strong bullish breakout. You should trail your stop-loss upward to the ₹1500 level to protect your accumulated profits in case of any market pullbacks.
Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.