CARE Ratings is forming a strong bullish structure on the weekly chart and the most interesting part is how consistently buyers have defended the rising trendline over the last three years. After making a major high near 1950 in June 2025 the stock entered a consolidation phase and started forming lower highs while maintaining higher lows. This has created a large symmetrical triangle where price is slowly getting compressed between falling resistance and rising support. Recently the stock once again tested its long-term support near 1500 along with the 100 EMA and witnessed a strong recovery. This is an important sign because sellers have repeatedly failed to break this support despite multiple attempts. Fundamentally the company is also showing consistent growth with quarterly EPS increasing by more than 20% YoY across the last five reported quarters and sales growing around 16–19% YoY. This combination of strong earnings growth and technical consolidation makes the setup even more interesting.
Currently the stock is trading near 1616 and gradually moving towards its falling resistance around 1800. A strong weekly breakout above this trendline could completely change the momentum and trigger the next major upside move. The stock has already spent more than a year consolidating below this resistance which means a significant amount of liquidity has built up above the previous highs. Once buyers manage to absorb the remaining supply we could see strong buying interest along with short covering. My first expectation after a confirmed breakout would be a move towards 1950 followed by 2100–2200 if momentum continues. The important thing is that price must continue to respect the rising support and 100 EMA near 1500–1520. This stock is not showing weakness despite a long consolidation. It is building a strong base and one clean breakout could start a completely new bullish phase.
Currently the stock is trading near 1616 and gradually moving towards its falling resistance around 1800. A strong weekly breakout above this trendline could completely change the momentum and trigger the next major upside move. The stock has already spent more than a year consolidating below this resistance which means a significant amount of liquidity has built up above the previous highs. Once buyers manage to absorb the remaining supply we could see strong buying interest along with short covering. My first expectation after a confirmed breakout would be a move towards 1950 followed by 2100–2200 if momentum continues. The important thing is that price must continue to respect the rising support and 100 EMA near 1500–1520. This stock is not showing weakness despite a long consolidation. It is building a strong base and one clean breakout could start a completely new bullish phase.
📌 Join Trading Community 👇
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
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.
📌 Join Trading Community 👇
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
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.