Chart Of The Day: This gas supplier has confirmed a bullish reversal for a 14% potential upside

CNBC-TV18 brings to you "Chart of the Day", where we will get you one chart from expert technical analysts daily and their take on the potential moves that the stock could see.

Linde India In Focus 

In today's chart, we bring you industrial gases and engineering company Linde India, analysed by Sacchitanand Uttekar of Tradebulls.

Linde India has conclusively ended its corrective phase by establishing a solid base in the ₹5,600 – ₹5,300 range, supported by a positive divergence on the daily RSI. Importantly, the stock respected its 200-week Exponential Moving Average, which coincides with the demand zone placed at ₹5,250, further validating the strength of this support region.

What Does The Chart Say?

The reversal was initiated with the formation of a higher swing low at ₹5,800 on May 9, 2025, marking the first structural sign of trend reversal. This shift has been accompanied by consistent delivery-based buying, helping the stock confidently break above its 200-day EMA at ₹6,600, a key resistance level.

The ongoing accumulation pattern and the recent bullish flag breakout, combined with the ADX crossing the 25 level, affirm the strength of this emerging uptrend.

Where Are Linde India Shares Headed?

These technical cues suggest the stock is poised to test levels near ₹8,600 in the current upmove. Momentum traders may consider entering on dips or strength with a stop-loss below ₹7,222 on a closing basis, targeting an initial upside towards ₹8,600.

Shares of Linde India ended 7% higher on Monday at ₹7,540 and have risen 17% in the last one month.

Also Read: Chart Of The Day: A breakout in this real estate stock can take it past levels of ₹800

Note To Readers

Investment in the securities market is subject to market risks, read all the related documents carefully before investing. For more details visit www.tradebulls.in/disclaimer.