(Timeframe: Weekly | Scale: Logarithmic)
The stock has confirmed a major structural breakout, emerging from a 7-month consolidation phase. This move is supported by a "Higher Low" structure, rising volume, and recent analyst optimism.
📈 1. The Structural Context (The Turnaround)
- The Adjustment (Context): It is important to note that the price levels (ATH ~₹144) reflect the 1:2 Bonus Issue that occurred in July 2025. The stock is now recovering from the post-bonus correction.
- The Cycle:
- Peak: ATH of ₹144.66 in Sep 2024.
- Correction: A downtrend lasted until April 2025, finding a base.
- Reversal: Since April, the stock has shifted character, forming a clear series of Higher Lows, indicating steady accumulation.
💥2. The Breakout (This Week's Action)
- The "Lid" (Resistance Zone): The ₹113 – ₹116 zone has acted as a stiff resistance since Nov 2024. Breaking this level is significant.
- The Surge: This week, the stock decisively broke and closed above this zone with a 5.93% surge.
- Volume Confirmation: The move was backed by massive volume of 151.49 Million. Volume has been "drying up" since the ATH, so this sudden volume expansion is a classic "Ignition" signal.
📊 3. Technical Indicators
Indicator analysis shows a synchronized bullish trend:
- EMAs: Short-term EMAs are in a PCO (Price Crossover) state across Monthly and Weekly timeframes, confirming the trend is up.
- RSI: The Relative Strength Index is rising on both timeframes, showing momentum is building.
🎯 4. Future Scenarios & Key Levels
The breakout opens the door for a rally toward the previous highs.
- 🐂 Bullish Targets:
- Target 1: ₹132. This is the immediate technical extension.
- Target 2: ₹145+. If momentum sustains, a retest of the All-Time High is the structural goal. (Note: Some street estimates are as high as ₹162).
- 🛡️ Support (The "Must Hold"):
- Re-test Zone: The ₹113 – ₹116 zone has now flipped to support. A pullback to this level would be a healthy entry opportunity.
- Stop Loss: If the breakout fails (fakeout), the stock may slide to the ₹102 support zone.
Conclusion
This is a high-quality setup. The combination of Higher Lows, a Volume Breakout, and the Bonus Adjustment digestion makes this a strong candidate for a move to ₹132. Watch for a sustained hold above ₹116.
The stock has confirmed a major structural breakout, emerging from a 7-month consolidation phase. This move is supported by a "Higher Low" structure, rising volume, and recent analyst optimism.
📈 1. The Structural Context (The Turnaround)
- The Adjustment (Context): It is important to note that the price levels (ATH ~₹144) reflect the 1:2 Bonus Issue that occurred in July 2025. The stock is now recovering from the post-bonus correction.
- The Cycle:
- Peak: ATH of ₹144.66 in Sep 2024.
- Correction: A downtrend lasted until April 2025, finding a base.
- Reversal: Since April, the stock has shifted character, forming a clear series of Higher Lows, indicating steady accumulation.
💥2. The Breakout (This Week's Action)
- The "Lid" (Resistance Zone): The ₹113 – ₹116 zone has acted as a stiff resistance since Nov 2024. Breaking this level is significant.
- The Surge: This week, the stock decisively broke and closed above this zone with a 5.93% surge.
- Volume Confirmation: The move was backed by massive volume of 151.49 Million. Volume has been "drying up" since the ATH, so this sudden volume expansion is a classic "Ignition" signal.
📊 3. Technical Indicators
Indicator analysis shows a synchronized bullish trend:
- EMAs: Short-term EMAs are in a PCO (Price Crossover) state across Monthly and Weekly timeframes, confirming the trend is up.
- RSI: The Relative Strength Index is rising on both timeframes, showing momentum is building.
🎯 4. Future Scenarios & Key Levels
The breakout opens the door for a rally toward the previous highs.
- 🐂 Bullish Targets:
- Target 1: ₹132. This is the immediate technical extension.
- Target 2: ₹145+. If momentum sustains, a retest of the All-Time High is the structural goal. (Note: Some street estimates are as high as ₹162).
- 🛡️ Support (The "Must Hold"):
- Re-test Zone: The ₹113 – ₹116 zone has now flipped to support. A pullback to this level would be a healthy entry opportunity.
- Stop Loss: If the breakout fails (fakeout), the stock may slide to the ₹102 support zone.
Conclusion
This is a high-quality setup. The combination of Higher Lows, a Volume Breakout, and the Bonus Adjustment digestion makes this a strong candidate for a move to ₹132. Watch for a sustained hold above ₹116.
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.
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: 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.
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.