Allied Blenders and Distillers: Retail Buzz Surges, SEBI RA Sees Short-term Upside To ₹550

Allied Blenders and Distillers is currently trying to break past a key resistance zone.

Meanwhile, the retail sentiment on Stocktwits shifted to ‘extremely bullish’ from ‘neutral’ a day earlier amid ‘extremely high’ message volumes.

The stock is trading just below the ₹500 - ₹510 resistance zone, which marks a recent swing high, with multiple candles with long upper wicks. These signals indicate either profit booking or temporary exhaustion, noted SEBI-registered analyst Vijay Kumar Gupta.

A strong breakout and close above ₹510 could unlock further momentum, potentially targeting ₹530 and ₹550 in the short term, Gupta said.

Technically, the stock remains in a bullish structure, with higher highs and higher lows firmly in place.

After a sharp uptrend, price action has entered a healthy retracement phase, which may signal accumulation just below resistance. This type of consolidation often precedes a breakout if supported by volume, the analyst said.

Support for the stock lies in the ₹455 - ₹465 zone, which aligns with a recent sideways range and offers a good entry opportunity, Kumar said.

A stronger demand area exists between ₹410 - ₹435, which was also the stock’s earlier consolidation and breakout zone.

For longer-term investors, ₹320 - ₹350 remains a critical bullish order block cluster and serves as an ideal re-entry level in case of deeper corrections.

Gupta recommends a stop-loss below ₹455 for fresh entries, and below ₹435 for positional traders.

The stock closed 2.3% higher at ₹487, having gained 12.4% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com

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