Sanghvi Movers (Daily Timeframe) - Potential BreakOut ??

Sanghvi Movers has been in a corrective downtrend since peaking at its all-time high in May 2024. A notable shift in market structure appeared in March 2025, with the stock starting to print a series of higher lows—an early sign of a potential trend reversal.

A significant horizontal resistance, established in August 2023, has capped multiple rally attempts. Today, however, the stock challenged this level with conviction, closing +10.45% higher on massive volume, which suggests strong institutional interest. Bullish sentiment is further reinforced by a recent Simple Moving Average (SMA) Golden Cross.

While we await a confirmatory Positive Crossover (PCO) on the short-term Exponential Moving Averages (EMAs), a sustained breakout above this resistance could signal the start of a new uptrend. The next logical price target on a successful breakout would be the ₹428 zone.