Anupam Rasayan In A Bullish Setup: SEBI RA Sees Fresh Rally Toward ₹1,240
Synopsis
Earlier in the week, Promoter Mona Anandbhai Desai released the pledge of 2,050,000 equity shares
Earlier this week, Anupam Rasayan India shares reached their highest level in over two years. Promoter Mona Anandbhai Desai had released the pledge on 2,050,000 equity shares, representing 1.86% of the company’s total share capital.
The stock has experienced steady upward momentum over the past month, gaining around 2.6%.
Technically, the stock has entered a strong uptrend, confirming a textbook Ichimoku breakout with solid momentum indicators and healthy volumes, according to SEBI-registered analyst Vijay Kumar Gupta.
If the stock sustains above ₹1,140, it could see a fresh rally toward ₹1,200 - ₹1,240 levels in the coming weeks, he said. At Friday’s close, the stock was marginally lower at ₹1,148.80.
On the daily chart, the stock is forming consistent higher highs and higher lows, a typical bullish pattern. It is trading well above the Ichimoku cloud, while Tenkan-sen and Kijun-sen remain aligned for further upside, the analyst said.
The future cloud (Kumo) is green, reinforcing trend strength, while immediate support rests at ₹1,143, ₹1,125, and ₹1,108, he added.
The commodity channel index (CCI) stands at 182.16, indicating overbought conditions, but the bullish crossover of the signal line at 78.18 implies that strength is still intact.
On-balance volume (OBV) has climbed high, confirming accumulation and absence of divergence. Volume traded stood at 178K, exceeding the average of 150K, a bullish sign that supports price strength.
From a fundamental standpoint, Anupam Rasayan is gaining traction amid rising global demand for specialty chemicals and a strategic China+1 shift in sourcing. Delivery-based buying and rising institutional interest further validate the uptrend, the analyst noted.
Retail sentiment on Stocktwits was ‘bullish’.
Year-to-date (YTD), the shares have gained around 60%.
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