GRANULES : Dark days ahead?The daily chart for Granules India Ltd. signals a bearish outlook, particularly with the recent close at ₹532.40, a 5.29% drop. The price has approached a critical support level at ₹528. A breakdown below this level could trigger further downside toward ₹508, ₹486, and potentially ₹460. The 200-day moving average hovers around ₹567, and any close above ₹576 would invalidate this bearish view. However, until such a reversal occurs, the trend remains downward.
Adding to the negative sentiment, the recent earnings report highlights weak revenue performance, with the company posting ₹9.666 billion in revenue versus an estimated ₹10.588 billion, an 8.71% miss. While earnings per share marginally exceeded estimates, revenue underperformance suggests underlying business challenges. Overall, the chart's technicals and disappointing financials could drive further selling pressure on the stock.
