Finolex Cables builds momentum above ₹1,300!!

Finolex Cables builds momentum above ₹1,300 Finolex Cables Limited (NSE: FINCABLES) has bounced after retesting the ₹1,300 zone, turning the earlier resistance area into a near-term support zone. The latest session also saw an exceptional rise in volumes. The stock formed a firm green candle and is currently trading above its key moving averages. The RSI has moved higher to around 63 and crossed above its signal line. MACD is also above its signal line and remains in positive territory. My view is that ₹1,300 is the level that matters most for the current structure. The previous resistance has started behaving like support, while the momentum indicators are improving. This gives the chart a constructive setup, but the next breakout still needs confirmation.