This is a "wait and watch" scenario. The stock is at a critical decision point. A massive fundamental catalyst (record-breaking earnings) has met a powerful technical resistance. The price-action of the next few days will be crucial.
🚀 1. The Fundamental Catalyst
Today's explosive move was fundamentally driven. The stock gapped up and surged +11.98% on 11.37 Million in volume as a direct response to its record-breaking Q2 2026 earnings (44% profit growth). This provides a strong, non-speculative a to the bullish case.
📈 2. The Long-Term Context (The Setup)
- The 2024-2025 Correction: After its ATH in July 2024, the stock entered a downtrend, which found its bottom in February 2025.
- The Recovery: Since then, the stock has been in a slow, methodical uptrend, forming a bullish structure of Higher Lows.
- Drying Volume: Volume had dried up during this slow uptrend, a classic sign of accumulation before a major move.
🎯 3. Today's Action (The "Battle at Resistance")
The stock's upward progress was blocked by a dual resistance:
1. A short-term horizontal resistance (since Jan 2025).
2. A long-term angular resistance (from the Jul 2024 ATH).
Today, the stock's gap-up broke the short-term horizontal resistance intraday, but by the market's close, sellers pushed it back down. It failed to close above this level. This "rejection" or "failed close" signals that a significant supply of sellers (profit-takers) exists at this exact point, despite the great news.
📊 4. Confluence of Bullish Indicators
Despite today's rejection, the underlying trend is powerfully bullish:
- RSI: The Relative Strength Index is rising on the Daily, Weekly, and Monthly charts.
- EMAs: The short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on all three timeframes.
This "trifecta" of bullishness across all timeframes suggests today's rejection is likely a pause, not a top.
🧠 5. Future Scenarios & Key Levels to Watch
The next few days will define the trend.
🐂 The Bullish Case (Confirmation)
- Trigger: We need to see a decisive daily close above the horizontal resistance, followed by a break of the main angular trendline.
- Target: This would confirm the breakout and open the path to the ₹1,255 level.
🐻 The Bearish Case (Rejection)
- Trigger: If today's failed close is a bull trap and the momentum is lost.
- Target: The price will likely fall to retest the primary support level at ₹890.
🚀 1. The Fundamental Catalyst
Today's explosive move was fundamentally driven. The stock gapped up and surged +11.98% on 11.37 Million in volume as a direct response to its record-breaking Q2 2026 earnings (44% profit growth). This provides a strong, non-speculative a to the bullish case.
📈 2. The Long-Term Context (The Setup)
- The 2024-2025 Correction: After its ATH in July 2024, the stock entered a downtrend, which found its bottom in February 2025.
- The Recovery: Since then, the stock has been in a slow, methodical uptrend, forming a bullish structure of Higher Lows.
- Drying Volume: Volume had dried up during this slow uptrend, a classic sign of accumulation before a major move.
🎯 3. Today's Action (The "Battle at Resistance")
The stock's upward progress was blocked by a dual resistance:
1. A short-term horizontal resistance (since Jan 2025).
2. A long-term angular resistance (from the Jul 2024 ATH).
Today, the stock's gap-up broke the short-term horizontal resistance intraday, but by the market's close, sellers pushed it back down. It failed to close above this level. This "rejection" or "failed close" signals that a significant supply of sellers (profit-takers) exists at this exact point, despite the great news.
📊 4. Confluence of Bullish Indicators
Despite today's rejection, the underlying trend is powerfully bullish:
- RSI: The Relative Strength Index is rising on the Daily, Weekly, and Monthly charts.
- EMAs: The short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on all three timeframes.
This "trifecta" of bullishness across all timeframes suggests today's rejection is likely a pause, not a top.
🧠 5. Future Scenarios & Key Levels to Watch
The next few days will define the trend.
🐂 The Bullish Case (Confirmation)
- Trigger: We need to see a decisive daily close above the horizontal resistance, followed by a break of the main angular trendline.
- Target: This would confirm the breakout and open the path to the ₹1,255 level.
🐻 The Bearish Case (Rejection)
- Trigger: If today's failed close is a bull trap and the momentum is lost.
- Target: The price will likely fall to retest the primary support level at ₹890.
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
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
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
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.