Vivek kumar
15 Sep • 10:06 PM · SEBI-Registered Analyst
Sri Lotus Developers & Realty Ltd.!!!watch these levels
Sri Lotus Developers & Realty Ltd. — Technical + Fundamental Analysis 📊 Technical Analysis The weekly chart you shared presents a strong bullish recovery. The stock had previously declined from above ₹200 toward the ₹110–₹120 zone, where it appears to have formed a substantial base. From that bottom, the stock has created a series of higher highs and higher lows, indicating a significant change in medium-term momentum. The most important feature on the chart is the ₹218–₹220 resistance zone. Your chart has marked resistance at approximately ₹218.93. This level is particularly important because the stock previously faced selling pressure around this area. The current price is around ₹213.54, meaning the stock is trading very close to a major technical hurdle. A weekly closing above ₹218.93–₹220 with strong volume would be technically significant. Such a breakout could indicate that the previous supply zone has been absorbed and potentially open the door toward higher levels. Traders should preferably look for a sustained breakout rather than treating an intraday move above resistance as confirmation. On the downside, the first important psychological and technical support appears around ₹200. This level is important because it also represents the recent breakout/momentum area. If the stock sustains above ₹200 after a breakout attempt, the bullish structure remains relatively strong. Below ₹200, the next important zones visible on the chart are approximately ₹190–₹195, followed by ₹180–₹185. A deeper correction toward ₹165–₹170 would still not necessarily destroy the entire medium-term structure, but it would indicate considerably weaker momentum. Therefore, technically, the setup can be summarized as: Resistance: ₹218–₹220 Breakout zone: Above ₹220 on a sustained weekly closing Immediate support: ₹200 Next supports: ₹190–₹195 and ₹180–₹185 Major momentum support: ₹165–₹170
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