Technical Analysis Thirumalai Chemicals Ltd.

The stock

experienced a prolonged downtrend falling from highs above ₹300 down to the ₹150–₹160 zone. It has recently formed a strong base around the ₹160 level in March and is now showing early signs of a trend reversal. The stock has recently broken past the crucial ₹200 psychological mark. Sustaining closing levels above this zone is a positive sign for short-term strength. Immediate Support the ₹195–₹200 zone now acts as immediate support. A break below this could see the stock retest the ₹180 level. Immediate Resistance the next significant hurdle on the upside is around ₹220. If it successfully breaks and sustains above ₹220 the stock could potentially target the ₹240–₹250 zone in the medium term. For fresh buyers entering near the ₹200 zone is a solid short-term setup with a strict stop-loss at ₹190–₹195 aiming for an immediate target of ₹220. Existing holders should continue holding their positions to ride this ongoing recovery trend using ₹195 as a trailing stop-loss to protect their profits. The chart structure remains positive as long as the price successfully sustains above the ₹200 psychological level. If the stock breaks the ₹220 resistance with good volume it can quickly move towards the ₹240 zone for a strong swing trade. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.