Shares of Afcons Infrastructure rose 1.3% on Friday after the civil construction and infrastructure company announced it had secured an order worth ₹576 crore for civil and allied infrastructure works.

Technical Watch

SEBI-registered analyst Prabhat Mittal said the stock has been gradually recovering after an early-year correction. It had surged to ₹570 on its January 2025 listing day before declining to ₹398 in March, where it found consistent support between ₹390 and ₹398.

He noted that the ₹474 level had acted as a significant resistance zone in recent months, but the stock has now crossed this hurdle following the new order announcement, indicating improving technical strength.

Trading Call 

Mittal said a confirmed close above ₹480 would signal a strong breakout, opening the path for potential upside toward ₹550–₹575. He recommended maintaining a strict stop loss below ₹434 to limit risk.

He added that holding above the ₹474–₹480 range would reinforce bullish momentum and could trigger further gains in the near term if volume support continues.

What Is The Retail Mood?

On Stocktwits, retail sentiment was 'extremely bullish' amid 'extremely high' message volume.

Afcon's stock has declined 13% so far in 2025.

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