Munjal Auto Industries is showing significant bullish strength, surging +5.28% today on the back of massive trading volume. The stock has successfully broken through one long-term resistance and is now positioned just below a second, even more significant, long-term resistance level.
This powerful move is part of a broader trend reversal that began in March 2025, following a downtrend from the stock's All-Time High in October 2024.
Overwhelmingly Bullish Technical Confirmation 👍
The positive outlook is supported by a rare and powerful alignment of bullish indicators across all major timeframes:
- Broad-Based Momentum: Both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a bullish crossover state on the monthly, weekly, and daily charts.
- Golden Crossover: A Simple Moving Average (SMA) Golden Crossover occurred a few days ago, providing a strong long-term bullish signal.
- Volume Thrust: The recent price gains have been accompanied by significant volume spikes, indicating strong buyer conviction.
Outlook and Key Levels
The stock is at a critical juncture, facing a major long-term resistance. A successful breakout is required to confirm the next leg of the uptrend.
- Bullish Case 📈: If the upward momentum is sustained and the stock decisively breaks through the current resistance, the next potential target is the ₹127 level.
- Bearish Case 📉: If the stock is rejected at this major resistance and momentum fades, it could pull back to find support near the ₹90 level.
This powerful move is part of a broader trend reversal that began in March 2025, following a downtrend from the stock's All-Time High in October 2024.
Overwhelmingly Bullish Technical Confirmation 👍
The positive outlook is supported by a rare and powerful alignment of bullish indicators across all major timeframes:
- Broad-Based Momentum: Both the short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) are in a bullish crossover state on the monthly, weekly, and daily charts.
- Golden Crossover: A Simple Moving Average (SMA) Golden Crossover occurred a few days ago, providing a strong long-term bullish signal.
- Volume Thrust: The recent price gains have been accompanied by significant volume spikes, indicating strong buyer conviction.
Outlook and Key Levels
The stock is at a critical juncture, facing a major long-term resistance. A successful breakout is required to confirm the next leg of the uptrend.
- Bullish Case 📈: If the upward momentum is sustained and the stock decisively breaks through the current resistance, the next potential target is the ₹127 level.
- Bearish Case 📉: If the stock is rejected at this major resistance and momentum fades, it could pull back to find support near the ₹90 level.
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.