Thangamayil (M): Strongly Bullish, Blue-Sky BreakoutThis is a high-conviction breakout. The stock has broken out of a year-long consolidation base, created a new all-time high, and is supported by explosive volume and powerful fundamental results.
📈 1. The Long-Term Context (The "Big Picture")
- Logarithmic View: On a long-term logarithmic chart, this move is a continuation of a major uptrend.
- The Consolidation: After hitting its previous All-Time High (ATH) in October 2024, at ₹2,567.50, the stock entered a year-long sideways consolidation.
- Drying Volume: During this phase, volume "dried up," which is a classic bullish sign of seller exhaustion and accumulation by new buyers.
🚀 2. The Decisive Breakout (The November 2025 Event)
- The Surge: In the first week of November 2025, the stock shattered this consolidation with a massive +40.17% surge.
- High-Conviction Volume: This move was backed by exceptional, non-speculative volume of 3.67 Million shares, confirming strong institutional interest.
- New ATH: This surge pushed the stock into "price discovery" mode, creating a new all-time high.
📊 3. The Fundamental Catalyst (Why it's Breaking Out)
This powerful technical breakout is fully supported by blowout fundamental news, which gives the move high validity:
- Massive Profit: The company reported a sharp Q2 profit turnaround (from a net loss last year to a ₹58.5 Cr net profit).
- Record Sales: The company also announced record-breaking sales in October , crossing the ₹1,000 Cr mark for the first time in a single month.
🎯 4. Future Scenarios & Key Levels
- Bullish Indicators: The short-term EMAs are in a PCO state and the RSI is rising , confirming the momentum is strong and on the side of the buyers.
🐂 The Bullish Case (Price Discovery)
- Trigger: If this momentum is sustained, the stock is in "blue-sky" territory with no overhead resistance.
- Target: Projected target of ₹4,150 is a logical next-level based on technical extensions.
🐻 The Pullback Case (Support Test)
- Trigger: If the momentum pauses or a pullback occurs (which is healthy after a 40% surge).
- Support: The most critical level to watch is the old resistance-turned-support zone at ₹2,560 - ₹2,570 . A re-test and "bounce" off this level would be a textbook confirmation of the new support and an ideal entry point for those who missed the initial breakout.
