The stock has decisively broken out of a 3-month consolidation phase. This technical breakout is powered by a strong fundamental catalyst (Q2 earnings), validating the surge and the high volume.
🚀 1. The Fundamental Catalyst (The "Why")
The breakout is a direct reaction to the company's Q2 FY26 Earnings announced today:
- Net Profit: Jumped 30% YoY to ₹258 crore.
- Revenue: Grew 20% YoY to ₹1,644 crore.
- Market Reaction: This stellar performance triggered the massive gap-up and volume spike, confirming that institutional money is chasing the stock.
📈 2. The Chart Structure (The "Setup")
- The Correction: After the June 2025 peak, the stock saw a healthy ~27.5% correction into August.
- The Consolidation: Since August, it formed a classic Rectangular Consolidation Pattern (a "box" range).
- Drying Volume: Volume dried up during this sideways phase—a textbook sign that sellers were exhausted and the stock was being accumulated.
💥 3. The Breakout (Today's Action)
- The Surge: The stock surged 14.53%
- The Volume: The move was backed by massive volume of 13.33 Million shares, the highest in months.
- The Resistance Break: The stock has decisively broken but not closed above the key horizontal resistance from July 2025 (the ₹2,020 level).
📊 4. Technical Indicators
- RSI: The Relative Strength Index is rising across Daily, Weekly, and Monthly timeframes, showing aligned bullish momentum.
- EMAs: Short-term EMAs are in a PCO (Price Crossover) state, signaling a fresh uptrend.
🎯 5. Future Scenarios & Targets
With the rectangular base now broken, the path of least resistance is up.
- 🐂 Bullish Target 1: ₹2,225 (Immediate technical extension).
- 🐂 Bullish Target 2: ₹2,370 (Retest of the All-Time High).
- 🛑 Support (The Safety Net): If the stock pulls back to digest these gains, the top of the rectangle at ₹1,850 should now act as strong support.
🚀 1. The Fundamental Catalyst (The "Why")
The breakout is a direct reaction to the company's Q2 FY26 Earnings announced today:
- Net Profit: Jumped 30% YoY to ₹258 crore.
- Revenue: Grew 20% YoY to ₹1,644 crore.
- Market Reaction: This stellar performance triggered the massive gap-up and volume spike, confirming that institutional money is chasing the stock.
📈 2. The Chart Structure (The "Setup")
- The Correction: After the June 2025 peak, the stock saw a healthy ~27.5% correction into August.
- The Consolidation: Since August, it formed a classic Rectangular Consolidation Pattern (a "box" range).
- Drying Volume: Volume dried up during this sideways phase—a textbook sign that sellers were exhausted and the stock was being accumulated.
💥 3. The Breakout (Today's Action)
- The Surge: The stock surged 14.53%
- The Volume: The move was backed by massive volume of 13.33 Million shares, the highest in months.
- The Resistance Break: The stock has decisively broken but not closed above the key horizontal resistance from July 2025 (the ₹2,020 level).
📊 4. Technical Indicators
- RSI: The Relative Strength Index is rising across Daily, Weekly, and Monthly timeframes, showing aligned bullish momentum.
- EMAs: Short-term EMAs are in a PCO (Price Crossover) state, signaling a fresh uptrend.
🎯 5. Future Scenarios & Targets
With the rectangular base now broken, the path of least resistance is up.
- 🐂 Bullish Target 1: ₹2,225 (Immediate technical extension).
- 🐂 Bullish Target 2: ₹2,370 (Retest of the All-Time High).
- 🛑 Support (The Safety Net): If the stock pulls back to digest these gains, the top of the rectangle at ₹1,850 should now act as strong support.
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.
Penafian
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.
Penafian
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.