RIL-backed Alok Industries shares zoom 10%; key support, resistance levels in focus

Shares of Alok Industries jumped 9.92 per cent in Thursday's trade, hitting a high of Rs 21.50 and marking their fifth straight session of gains. On the earnings front, the Reliance Industries Ltd-backed company reduced its March 2025 quarter (Q4 FY25) consolidated net loss to Rs 74.47 crore, down from Rs 272.99 crore in Q3. The improvement was supported by a one-time exceptional gain of Rs 94.14 crore.

Technically, Alok Industries is showing positive momentum on the charts. It has strong support between Rs 17 and 19.5 and faces resistance around Rs 21.5 to Rs 25. If the stock decisively crosses Rs 25, it could move towards Rs 28. Experts suggest a cautious approach, focusing on key levels.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, observed that Alok Industries has shown notable movement in recent trading months. "The intermediate outlook remains bullish, with the Rs 18–17 zone likely to act as a support cushion. On the flip side, the Rs 24–25 range stands as a strong resistance. A cautious approach is advisable, with attention to these key levels," he added.

Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "Alok Industries has broken out and is indicating a potential trend reversal from bearish to bullish. The breakout was accompanied by a sharp rise in volumes, signaling strong buying interest at current levels. The stock becomes more attractive for entry around Rs 21, with a stop-loss at Rs 18.50, and an upside potential towards Rs 26–28."

According to Sebi-registered independent analyst AR Ramachandran, "The stock appears bullish on daily charts, with strong support at Rs 19.55. A daily close above the Rs 21.65 resistance could open the door for an upside target of Rs 23 in the near term."

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, noted, "Support is seen at Rs 19.5, while resistance lies at Rs 21.5. A decisive move above Rs 21.5 could trigger further upside towards Rs 23. In the short term, the stock is expected to trade within the Rs 19–23 range."

As of March 2025, RIL holds a 40.01 per cent stake in Alok Industries, whereas JM Financial Asset Reconstruction Company owns 34.99 per cent.