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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