BAPL Breakout: Ignites with 61% Weekly Surge; TP 56 - 69 - 77

Bawany Air Products Ltd (BAPL) has delivered a powerful breakout on the weekly chart, surging by an impressive 61.09% to close at 44.17 as of May 18, 2025. This move marks a clear breakout from a long-standing descending triangle pattern, signaling a shift from a consolidation phase to a fresh bullish trend. The breakout is technically significant and suggests strong buying interest and renewed momentum in the stock.

Using Fibonacci retracement levels from the prior swing high of 56.82 to the low of 22.30, BAPL has already surpassed the critical 61.8% level at 44.06. This opens the path toward the next resistance levels at 49.25 (78.6%) and 56.82 (100%). Beyond that, Fibonacci extension levels suggest medium-term targets at 64.48, 69.62, and even 77.78, indicating the potential for a multi-leg rally if the momentum sustains.

The Stochastic RSI is also supporting the bullish case, with both lines rising strongly—green at 61.93 and red at 57.23—indicating continued upward momentum. Immediate support lies around 40.00, while deeper support is near 35.40, both of which could serve as buy-on-dip zones. In summary, BAPL appears to be entering a high-momentum phase, with short-term targets in the 49–57 range and higher upside possible as long as key support levels hold.