The analyst Kavita Agrawal highlighted rising volumes, a bounce off key trendline support, and a favorable risk-reward setup.
Shares of Deep Industries jumped 3% on Tuesday after the firm reported a sharp rise in revenue and profit for the June quarter.
Net profit grew 58.72% to ₹58.82 crore from ₹37.06 crore in the same quarter of the previous year. Revenue during the quarter jumped 61.59% to ₹199.50 crore from ₹123.46 crore a year ago.
SEBI-registered analyst Kavita Agrawal noted the stock is trading within a strong upward channel and recently bounced from its lower trendline.
She said the price remains above the 250-day exponential moving average, a key long-term support level, and added that volume has increased over the last five sessions.
While the relative strength index (RSI) is in the overbought zone, Agrawal said that in the context of a trendline bounce and rising volume, it indicates strength rather than exhaustion.
Based on technical analysis, she highlighted a potential upside of around 71%, with downside risk limited to 15%. She identified ₹876 as a key resistance level and ₹440 as the support zone protecting the current bullish setup.
On Stocktwits, retail sentiment for Deep Industries was ‘bullish’ amid ‘high’ message volume.
The stock has declined 3.3% so far in 2025.
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