Stop Loss: Rs 468
Target: Rs 530
Sona BLW Precision Forgings has broken out of a descending channel with a strong bullish candle accompanied by a significant volume surge, signalling a clear trend reversal. The price has reclaimed key moving averages, including the 20, 50, and 100 EMA cluster near ₹470–474, strengthening the upward momentum. RSI at 58 indicates improving strength without entering overbought territory. With the breakout confirmed, the stock is poised for a short-term upward move. Fresh buy is favourable at CMP ₹489 with a stop-loss at ₹468 and an upside target of ₹530. The overall structure now shifts from consolidation to a bullish breakout.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
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