Thyrocare (W): Strongly Bullish, Multi-Year BreakoutBased on Weekly Timeframe, Logarithmic Scale
This is a textbook, high-conviction breakout. The stock has decisively broken a 4-year consolidation, backed by strong fundamentals and a powerful confluence of high-timeframe technical indicators.
📈 1. The Multi-Year Setup
- The 2021 Peak: After its ATH in June 2021 (at ~₹1,465 ), the stock entered a steep, 2-year downtrend.
- The 2023 Bottom: This trend found its bottom in March 2023 .
- The Recovery & Base: Since then, the stock has been in a 2.5-year recovery, building a massive base. This upward move was further halted by the horizontal resistance at the ₹1,465 level, which it failed to break on previous attempts.
🚀 2. The Fundamentally-Driven Breakout (Last Week)
Last week, this entire 4-year pattern changed:
- The Catalyst: Strong Q2 2026 earnings provided the "fuel" for a major move.
- The Surge: The stock surged +12.43% for the week.
- The Volume: This move was backed by a 3.45 Million share volume spike. This comes after a period of average volume, confirming institutional interest.
- The Close: The stock achieved a weekly close above ₹1,465 , confirming the breakout is not just an intraday spike.
📊 3. Confluence of Bullish Indicators
The alignment on high timeframes is exceptionally bullish:
- RSI: The Relative Strength Index is rising on both the Monthly and Weekly charts.
- EMAs: The short-term Exponential Moving Averages are in a "PCO" (Price Crossover) state on both the Monthly and Weekly charts.
- Volume: A clear spike on the breakout after a steady rise, confirming the move's validity.
🎯 4. Future Scenarios & Key Levels to Watch
🐂 The Bullish Case (Continuation)
- Trigger: If the bullish momentum continues, the stock is in a new "blue-sky" uptrend.
- Target: The next logical long-term price target is at ₹2,000 levels.
🐻 The Pullback Case (Healthy Re-test)
- Trigger: If the stock pauses to digest its 12.5% weekly gain or if the broader market pulls back.
- Support: The price would likely fall to re-test the resistance-turned-support level at ₹1,465 . A "bounce" off this level would be a classic, healthy confirmation of the breakout and an ideal entry point for those who missed the initial surge.
