Senco reported a blockbuster Q1 FY27 business update on July 3, 2026
Structure (Very Important)
• Stock was moving in a clear sideways range
o Support: ₹300 zone
o Resistance / Breakout Zone: ₹400–₹405
👉 This is a classic accumulation range
________________________________________
🟢 Current Price Action
• Latest weekly candle:
o Strong bullish candle (~+5%)
o Closing near highs → buyers in control
• Price now approaching breakout zone (₹400–405)
Indicates bullish pressure building for breakout
________________________________________
🔥 Breakout Setup (Key Highlight)
• Marked Breakout Zone: ₹400–405
• If weekly close above this zone:
Expect:
• Fresh momentum buying
• Short covering rally
• New uptrend start
________________________________________
🎯 Targets (As per your chart projection)
• Target 1: ₹480–₹500 zone
• This is based on:
o Range breakout height projection
o Your marked measured move (~20%)
________________________________________
🛑 Risk / Stop Loss
• Stop Loss: ₹300 (range low)
• Conservative SL: ₹320–330 (recent swing)
Breakdown below ₹300 = setup failure
________________________________________
📈 Volume & Behavior
• Range phase shows:
o No panic selling
o Gradual accumulation
***** Key Strengths & Growth Drivers
Highest SSSG among jewellery peers at 38% in Q1 FY27 Old Gold Exchange contributing 43% of sales — reduces gold procurement cost & working capital Sennes (Lab-grown diamonds) — achieved EBITDA positivity in just 2nd year; future growth driver Melorra Acquisition — digital-first jewellery brand being acquired (extended to Sep 2026) Customs duty hike (6%→15%) — inventory gain of ~9% on ₹4,500 Cr inventory expected to flow through Q1-Q2 FY27 Credit Rating Upgraded to ICRA A+ (Stable) — reflects improved financial health Handmade jewellery — 75% of portfolio, supporting industry-best gross margins
Structure (Very Important)
• Stock was moving in a clear sideways range
o Support: ₹300 zone
o Resistance / Breakout Zone: ₹400–₹405
👉 This is a classic accumulation range
________________________________________
🟢 Current Price Action
• Latest weekly candle:
o Strong bullish candle (~+5%)
o Closing near highs → buyers in control
• Price now approaching breakout zone (₹400–405)
Indicates bullish pressure building for breakout
________________________________________
🔥 Breakout Setup (Key Highlight)
• Marked Breakout Zone: ₹400–405
• If weekly close above this zone:
Expect:
• Fresh momentum buying
• Short covering rally
• New uptrend start
________________________________________
🎯 Targets (As per your chart projection)
• Target 1: ₹480–₹500 zone
• This is based on:
o Range breakout height projection
o Your marked measured move (~20%)
________________________________________
🛑 Risk / Stop Loss
• Stop Loss: ₹300 (range low)
• Conservative SL: ₹320–330 (recent swing)
Breakdown below ₹300 = setup failure
________________________________________
📈 Volume & Behavior
• Range phase shows:
o No panic selling
o Gradual accumulation
***** Key Strengths & Growth Drivers
Highest SSSG among jewellery peers at 38% in Q1 FY27 Old Gold Exchange contributing 43% of sales — reduces gold procurement cost & working capital Sennes (Lab-grown diamonds) — achieved EBITDA positivity in just 2nd year; future growth driver Melorra Acquisition — digital-first jewellery brand being acquired (extended to Sep 2026) Customs duty hike (6%→15%) — inventory gain of ~9% on ₹4,500 Cr inventory expected to flow through Q1-Q2 FY27 Credit Rating Upgraded to ICRA A+ (Stable) — reflects improved financial health Handmade jewellery — 75% of portfolio, supporting industry-best gross margins
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.