This is a "wait and watch" scenario. The stock is at a critical decision point. A massive fundamental catalyst (record-breaking earnings) has met a powerful technical resistance. The price-action of the next few days will be crucial.
🚀 1. The Fundamental Catalyst
Today's explosive move was fundamentally driven. The stock gapped up and surged +11.98% on 11.37 Million in volume as a direct response to its record-breaking Q2 2026 earnings (44% profit growth). This provides a strong, non-speculative a to the bullish case.
📈 2. The Long-Term Context (The Setup)
- The 2024-2025 Correction: After its ATH in July 2024, the stock entered a downtrend, which found its bottom in February 2025.
- The Recovery: Since then, the stock has been in a slow, methodical uptrend, forming a bullish structure of Higher Lows.
- Drying Volume: Volume had dried up during this slow uptrend, a classic sign of accumulation before a major move.
🎯 3. Today's Action (The "Battle at Resistance")
The stock's upward progress was blocked by a dual resistance:
1. A short-term horizontal resistance (since Jan 2025).
2. A long-term angular resistance (from the Jul 2024 ATH).
Today, the stock's gap-up broke the short-term horizontal resistance intraday, but by the market's close, sellers pushed it back down. It failed to close above this level. This "rejection" or "failed close" signals that a significant supply of sellers (profit-takers) exists at this exact point, despite the great news.
📊 4. Confluence of Bullish Indicators
Despite today's rejection, the underlying trend is powerfully bullish:
- RSI: The Relative Strength Index is rising on the Daily, Weekly, and Monthly charts.
- EMAs: The short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on all three timeframes.
This "trifecta" of bullishness across all timeframes suggests today's rejection is likely a pause, not a top.
🧠 5. Future Scenarios & Key Levels to Watch
The next few days will define the trend.
🐂 The Bullish Case (Confirmation)
- Trigger: We need to see a decisive daily close above the horizontal resistance, followed by a break of the main angular trendline.
- Target: This would confirm the breakout and open the path to the ₹1,255 level.
🐻 The Bearish Case (Rejection)
- Trigger: If today's failed close is a bull trap and the momentum is lost.
- Target: The price will likely fall to retest the primary support level at ₹890.
🚀 1. The Fundamental Catalyst
Today's explosive move was fundamentally driven. The stock gapped up and surged +11.98% on 11.37 Million in volume as a direct response to its record-breaking Q2 2026 earnings (44% profit growth). This provides a strong, non-speculative a to the bullish case.
📈 2. The Long-Term Context (The Setup)
- The 2024-2025 Correction: After its ATH in July 2024, the stock entered a downtrend, which found its bottom in February 2025.
- The Recovery: Since then, the stock has been in a slow, methodical uptrend, forming a bullish structure of Higher Lows.
- Drying Volume: Volume had dried up during this slow uptrend, a classic sign of accumulation before a major move.
🎯 3. Today's Action (The "Battle at Resistance")
The stock's upward progress was blocked by a dual resistance:
1. A short-term horizontal resistance (since Jan 2025).
2. A long-term angular resistance (from the Jul 2024 ATH).
Today, the stock's gap-up broke the short-term horizontal resistance intraday, but by the market's close, sellers pushed it back down. It failed to close above this level. This "rejection" or "failed close" signals that a significant supply of sellers (profit-takers) exists at this exact point, despite the great news.
📊 4. Confluence of Bullish Indicators
Despite today's rejection, the underlying trend is powerfully bullish:
- RSI: The Relative Strength Index is rising on the Daily, Weekly, and Monthly charts.
- EMAs: The short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on all three timeframes.
This "trifecta" of bullishness across all timeframes suggests today's rejection is likely a pause, not a top.
🧠 5. Future Scenarios & Key Levels to Watch
The next few days will define the trend.
🐂 The Bullish Case (Confirmation)
- Trigger: We need to see a decisive daily close above the horizontal resistance, followed by a break of the main angular trendline.
- Target: This would confirm the breakout and open the path to the ₹1,255 level.
🐻 The Bearish Case (Rejection)
- Trigger: If today's failed close is a bull trap and the momentum is lost.
- Target: The price will likely fall to retest the primary support level at ₹890.
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.