Timeframe: Weekly | Scale: Logarithmic
The stock is staging a recovery from a steep correction and is currently attacking a key resistance zone. The breakout is supported by a structural "Higher Low" pattern and an upcoming corporate event.
🚀 1. The Fundamental Catalyst (The "Why")
The recent buying interest is likely pricing in a key event:
- Board Meeting (Dec 15, 2025): The company has scheduled a board meeting for Monday, Dec 15, to consider an Interim Dividend.
- Impact: Dividend announcements often attract short-term buying, which explains the "pick up" in volume and the attempt to clear resistance this week.
📈 2. The Long-Term Structure (Recovery)
> The Cycle::
- Peak: ATH of ₹951.75 in Sep 2024.
- Correction: A sharp ~41% fall to ₹558.50 (Feb 2025).
- Recovery: Since Feb 2025, the stock has been forming Higher Lows, indicating steady accumulation.
> The Resistance Box: The stock is currently battling the ₹909 – ₹923 zone.
- The Breakout: This week, the stock pierced this zone (High: ₹932) and closed at ₹915.40.
- Nuance: While it closed above the start of the resistance (₹909), it is still inside the supply zone. A close above ₹923 is needed to confirm the "All Clear."
📊 3. Volume & Indicators
- Volume: The weekly volume of 1.6 Million is healthy. Notably, a significant chunk of this volume came earlier in the week (Dec 8), showing early positioning for the dividend news.
- EMAs: The PCO (Positive Crossover) state across Monthly, Weekly, and Daily timeframes confirms the trend is synchronized to the upside.
- RSI: Rising across all timeframes, confirming that momentum is expanding.
🎯 4. Future Scenarios & Key Levels
The dividend news on Monday will likely decide the next move.
> 🐂 Bullish Target (Breakout):
- Trigger: A decisive Daily Close above ₹923.
- Target 1: ₹952 (Retest of ATH).
- Target 2: ₹1,177 (Fibonacci Extension).
> 🛡️ Support (The Pullback):
- Immediate Support: ₹909. This level should now act as a short-term floor.
- Critical Support: ₹880. If the "sell on news" (post-dividend) occurs, the stock must hold ₹880 to keep the Higher Low structure intact.
Conclusion
The setup is bullish, driven by the Dividend Board Meeting. The stock has effectively "opened the door" by closing above ₹909. Watch for a break of ₹923 next week to confirm the run to the ATH.
The stock is staging a recovery from a steep correction and is currently attacking a key resistance zone. The breakout is supported by a structural "Higher Low" pattern and an upcoming corporate event.
🚀 1. The Fundamental Catalyst (The "Why")
The recent buying interest is likely pricing in a key event:
- Board Meeting (Dec 15, 2025): The company has scheduled a board meeting for Monday, Dec 15, to consider an Interim Dividend.
- Impact: Dividend announcements often attract short-term buying, which explains the "pick up" in volume and the attempt to clear resistance this week.
📈 2. The Long-Term Structure (Recovery)
> The Cycle::
- Peak: ATH of ₹951.75 in Sep 2024.
- Correction: A sharp ~41% fall to ₹558.50 (Feb 2025).
- Recovery: Since Feb 2025, the stock has been forming Higher Lows, indicating steady accumulation.
> The Resistance Box: The stock is currently battling the ₹909 – ₹923 zone.
- The Breakout: This week, the stock pierced this zone (High: ₹932) and closed at ₹915.40.
- Nuance: While it closed above the start of the resistance (₹909), it is still inside the supply zone. A close above ₹923 is needed to confirm the "All Clear."
📊 3. Volume & Indicators
- Volume: The weekly volume of 1.6 Million is healthy. Notably, a significant chunk of this volume came earlier in the week (Dec 8), showing early positioning for the dividend news.
- EMAs: The PCO (Positive Crossover) state across Monthly, Weekly, and Daily timeframes confirms the trend is synchronized to the upside.
- RSI: Rising across all timeframes, confirming that momentum is expanding.
🎯 4. Future Scenarios & Key Levels
The dividend news on Monday will likely decide the next move.
> 🐂 Bullish Target (Breakout):
- Trigger: A decisive Daily Close above ₹923.
- Target 1: ₹952 (Retest of ATH).
- Target 2: ₹1,177 (Fibonacci Extension).
> 🛡️ Support (The Pullback):
- Immediate Support: ₹909. This level should now act as a short-term floor.
- Critical Support: ₹880. If the "sell on news" (post-dividend) occurs, the stock must hold ₹880 to keep the Higher Low structure intact.
Conclusion
The setup is bullish, driven by the Dividend Board Meeting. The stock has effectively "opened the door" by closing above ₹909. Watch for a break of ₹923 next week to confirm the run to the ATH.
Disclaimer
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
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.