Thermax Ltd – Technical Breakout in Focus

Ltd has shown a strong bullish move after months of consolidation. The stock recently broke out above a key resistance zone near ₹3,900–₹3,940, which had earlier acted as a supply zone multiple times (Feb, April, and July 2025). The breakout follows a classic “contraction base” pattern, often indicating accumulation before a strong uptrend. The recent upmove with strong volume confirms renewed buying interest. After touching a high near ₹4,000+, the stock retested the breakout level and rebounded smartly, indicating strength and buyer conviction. Key Levels: Support: ₹3800–3,850 Resistance: ₹4000+ zone (psychological round number) Volume: Strong surge during breakout, bullish signal Bias: Bullish As long as the price sustains above ₹3,850, the trend remains positive. A sustained move above ₹4,000 could open gates for fresh highs. Ideal for watchlist with a trailing SL near ₹3,800. This is not a recommendation to buy, sell, or hold any securities. Investors are advised to consult their financial advisors before making any investment decisions. I shall not be held responsible for any losses incurred, directly or indirectly, by anyone relying on this analysis.