Technical Analysis Shakti Pumps

The stock $SHAKTIPUMP experienced a major correction from its peak near 800 forming a series of lower highs and lower lows. However it recently found solid support around the 472.50 level. Since March the price action shows signs of accumulation and bottoming out. The stock is making higher lows in the 475 - 500 zone indicating that buyers are stepping in at lower levels. The stock is currently trading at 551.05. It has cleared the immediate minor resistance around 525 and is trying to stabilize above it. Immediate Support 525 Previous minor hurdle, now acting as support. Major Support 472.50 Strong demand zone a break below this invalidate the bullish structure. Immediate Resistance 575 - 600 Next supply zone where selling pressure might emerge. For short-term buyers the technical structure shows an early reversal setup a safe entry is near the 525–540 support zone with a strict stop-loss below the 472.50 demand level aiming for immediate targets of 575 and 600. For holders the chart indicates that the heavy selling pressure has exhausted and the stock is now in a healthy base-building phase. Since the price is making higher lows above 472.50 existing investors should hold their positions patiently, as a decisive breakout above 575 will trigger a strong momentum rally toward 650+.