This is a high-conviction breakout event. The stock has decisively broken its 17-month angular resistance, driven by blockbuster quarterly earnings. All indicators are aligned, but the stock now faces its final horizontal resistance, which will determine the next major leg up.
🚀 1. The Fundamental Catalyst (The "Why")
Today's move is not speculative. It is a direct response to record-breaking Q2 2026 earnings:
- Revenue: Surged 238% year-over-year to ₹307.46 crore.
- Net Profit: Grew 62.5% year-over-year to ₹49.19 crore.
- Market Reaction: The gap-up open and +7.56% surge on 6.29 Million in volume confirms massive institutional interest.
📈 2. The Long-Term Context (The Setup)
- The 2024-2025 Correction: After its ATH in July 2024, the stock entered a long-term downtrend.
- The Reversal: This trend found its bottom in March 2025, and the stock began its recovery.
- The Angular Resistance: This recovery was capped by the angular resistance trendline from the July 2024 ATH.
- Drying Volume: Volume was drying up during the consolidation since May 2025—a classic sign of accumulation.
🎯 3. The Dual Resistance Battle
- Part 1 (CLEARED): Today, the stock gapped up and closed decisively above the 17-month angular resistance trendline. This is a significant bullish victory.
- Part 2 (THE NEXT HURDLE): The stock now faces a major horizontal resistance at ₹3,141. This level is the last line of defense for the bears.
📊 4. Confluence of Bullish Indicators
This breakout is supported by a rare "trifecta" of bullish signals across all timeframes:
- EMAs: Short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on the Daily, Weekly, and Monthly charts.
- RSI: The Relative Strength Index is rising on the Daily, Weekly, and Monthly charts.
This alignment of all three timeframes gives the breakout very high technical validity.
🧠 5. Future Scenarios & Key Levels to Watch
🐂 The Bullish Case (Confirmation)
- Trigger: A decisive, high-volume close above the horizontal resistance at ₹3,141.
- Target: This would confirm the start of a new bull run, and the target of ₹3,445 is the next logical objective.
🐻 The Pullback Case (Healthy Re-test)
- Trigger: If the stock is rejected at ₹3,141 or needs to pause after its big run.
- Support: The price would likely fall to re-test the angular trendline it just broke, at the identified level of ₹2,817. A "bounce" off this level would be a textbook, healthy confirmation of the new support.
🚀 1. The Fundamental Catalyst (The "Why")
Today's move is not speculative. It is a direct response to record-breaking Q2 2026 earnings:
- Revenue: Surged 238% year-over-year to ₹307.46 crore.
- Net Profit: Grew 62.5% year-over-year to ₹49.19 crore.
- Market Reaction: The gap-up open and +7.56% surge on 6.29 Million in volume confirms massive institutional interest.
📈 2. The Long-Term Context (The Setup)
- The 2024-2025 Correction: After its ATH in July 2024, the stock entered a long-term downtrend.
- The Reversal: This trend found its bottom in March 2025, and the stock began its recovery.
- The Angular Resistance: This recovery was capped by the angular resistance trendline from the July 2024 ATH.
- Drying Volume: Volume was drying up during the consolidation since May 2025—a classic sign of accumulation.
🎯 3. The Dual Resistance Battle
- Part 1 (CLEARED): Today, the stock gapped up and closed decisively above the 17-month angular resistance trendline. This is a significant bullish victory.
- Part 2 (THE NEXT HURDLE): The stock now faces a major horizontal resistance at ₹3,141. This level is the last line of defense for the bears.
📊 4. Confluence of Bullish Indicators
This breakout is supported by a rare "trifecta" of bullish signals across all timeframes:
- EMAs: Short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on the Daily, Weekly, and Monthly charts.
- RSI: The Relative Strength Index is rising on the Daily, Weekly, and Monthly charts.
This alignment of all three timeframes gives the breakout very high technical validity.
🧠 5. Future Scenarios & Key Levels to Watch
🐂 The Bullish Case (Confirmation)
- Trigger: A decisive, high-volume close above the horizontal resistance at ₹3,141.
- Target: This would confirm the start of a new bull run, and the target of ₹3,445 is the next logical objective.
🐻 The Pullback Case (Healthy Re-test)
- Trigger: If the stock is rejected at ₹3,141 or needs to pause after its big run.
- Support: The price would likely fall to re-test the angular trendline it just broke, at the identified level of ₹2,817. A "bounce" off this level would be a textbook, healthy confirmation of the new support.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Declinazione di responsabilità
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Declinazione di responsabilità
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.