Amber Enterprises: Breakout Sets The Stage For 15% Potential Upside, Says SEBI RA Akhilesh Jat

The stock has moved out of a symmetrical triangle pattern, marking the end of a consolidation period, the analyst said.

Amber Enterprises is on the analyst’s radar, driven by strong technicals and 5% gains in the last one week. 

Earlier this month, Amber Enterprises announced plans to establish a large-scale electronics manufacturing facility near the upcoming Noida International Airport for ₹6,000 crore. 

It aims to build units for printed circuit board (PCB) assembly, home appliances, and consumer electronics production.

According to SEBI-registered analyst Akhilesh Jat, Amber Enterprises has broken out of a key technical indicator, signaling the end of a consolidation phase.

The stock has moved out of a symmetrical triangle pattern, a chart formation that indicates a potential breakout, he said. The chart structure, marked by a series of higher lows and a narrow price range, has resulted in an upside move.

The breakout above the ₹6,868 level reflects renewed bullish strength and suggests a favorable risk-reward opportunity for the market participants, he added. The upward momentum is further supported by the Relative Strength Index (RSI), which is above the midpoint at 60.03.

The analyst sees a strong rally if the stock sustains above the ₹6,868 mark, with potential to move toward higher targets, possibly reaching ₹7,800.

However, Jat cautions that a price drop below ₹6,225 would invalidate the current bullish setup and suggest a potential reversal or failure in the trend. He placed a stoploss at ₹6,200.

Amber Enterprises shares closed 1.55% higher at ₹6,826.50 on Wednesday.

The company, which manufactures home appliance equipment, reported a 34% year-on-year rise in consolidated revenue to ₹3,753.70 crore in Q4, while net profit grew 23% to ₹116 crore.

Year-to-date, the stock has shed 7.7%.

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