Authum Investment’s Rally Could See Another 30% Upside, Says SEBI RA

Authum Investment & Infrastructure’s stock is on a strong uptrend after completing a prolonged consolidation phase between ₹1,600 and ₹2,000, said SEBI-registered analyst Financial Sarthis.

Post its base formation, the stock has been riding smoothly along the Fibonacci extension levels, reflecting bullish momentum. The breakout above ₹2,600 has further strengthened the technical setup, indicating renewed interest from market participants, Sarthis said.

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At the time of writing, the shares were up 1.3% at ₹3,235. That represents a 24% surge since the breakout last month.

On the lower end, the analyst pegs immediate support levels between ₹2,325 and ₹2,115. These zones could act as buffers in the event of a pullback, providing opportunities for traders to re-enter. 

On the upside, resistance is visible around ₹3,380 and ₹4,206, which also align with a key trendline, Sathis added. A decisive move above these hurdles can open the path for further gains.

In terms of risk levels, a breakdown will only be considered if the stock closes below ₹2,100. Until then, the trend remains firmly positive, and dips are likely to be bought into. 

The most significant confirmation comes from volumes, he said. The breakout was accompanied by heavy trading activity, hinting at strong institutional participation. This reinforces the current uptrend.

Retail watch

The stock saw ‘extremely high’ high retail chatter on Stocktwits, even as sentiment shifted to ‘neutral’ from ‘bullish’ a day earlier.

Year-to-date, Authum shares have surged a massive 90%.

Earlier this week, Authum Investment signed a share subscription cum purchase agreement (SSPA) with Rivaara Labs and its promoters. Upon completion of the transaction, Authum will hold 35.09% of the total voting rights in Rivaara Labs.

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