Technical Analysis Suryoday Small Finance Bank

The stock

is daily chart of shows the stock currently trading around the ₹143.83 mark. After a strong rally that peaked near the ₹160+ levels late last year the stock entered a corrective downtrend. However it recently found strong buying interest near the ₹115–₹120 zone establishing a solid base. The recent price action is highly positive. The stock has printed a series of strong bullish candles indicating a sharp V-shaped recovery or reversal from the recent lows. The momentum is currently favoring the buyers. Immediate Resistance ₹145 - ₹150 the stock is right near a crucial resistance zone. This area previously acted as support before the breakdown and will now test the buyers strength. Major Resistance ₹160 - ₹162 if the stock successfully breaks above the immediate resistance the next major target and hurdle is the previous swing high near ₹160. Immediate Support ₹130 on the downside the ₹130 level serves as the first line of defense if the stock decides to pull back and consolidate. Major Support ₹115 - ₹120 this is the strong demand zone where the recent base was formed. Short-Term Buyers wait for a confirmed breakout and daily close above the ₹145–₹150 resistance zone with strong volume before initiating any fresh swing trades. Current Holders you can continue holding your existing positions but it is wise to keep a strict trailing stop-loss around the ₹128–₹130 support level to protect your recent gains. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.