Finolex Cables Ltd – Technical Outlook
(Educational Purpose Only)
Price Structure:
The stock has rebounded sharply from the ₹720–₹730 demand zone after forming a short-term base. Strong bullish candle with volume confirms buying interest at lower levels.
Trend & Setup:
Price has moved back above the 20-DMA and is attempting to reclaim the middle Bollinger Band. Structure indicates a potential short-term trend reversal after consolidation.
Indicators:
• RSI recovering above 55, signalling improving momentum
• MACD shows early bullish crossover
• Bollinger Bands starting to expand after contraction
• Volume spike supports the recent up-move
Key Levels:
Support: ₹750 / ₹720
Buy on Dips: ₹750–₹765
Resistance: ₹800 / ₹835
Targets: ₹820 – ₹850
Stop Loss: ₹720 (closing basis)
Bias:
Short-term bullish as long as the price holds above ₹750. Sustained move above ₹800 can lead to further upside.
⚠️ For educational purposes only. Not investment advice.
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