Stock rallied and rose more than 3% on Friday On the technical chart, the stock has seen a good recovery from the lows and has risen from low to about 5% intraday. It has risen above its 200-DMA and is currently trading at one-day highs. It has crossed the short-term resistance zone of Rs 1670-1680. The stock has made a strong bullish candle in the weekly timeframe and has risen more than 5% this week.
In addition to the bullish price structure, a number of technical parameters point to bullishness. The 14-period daily RSI (64.50) is pointing north and suggests strong bullishness. The MACK also hinted at a bullish crossover over the weekly period. OBI is rising and indicating strong bullishness from a volume point of view. The Elder Impulse system has signaled a new purchase.
The high volume indicates strong buying interest and thus positive for the stock. Considering the above factors, the stock is expected to test the level of Rs 1750, then in the short to medium term it will be Rs 1800.
Stock rallied and rose more than 3% on Friday On the technical chart, the stock has seen a good recovery from the lows and has risen from low to about 5% intraday. It has risen above its 200-DMA and is currently trading at one-day highs. It has crossed the short-term resistance zone of Rs 1670-1680. The stock has made a strong bullish candle in the weekly timeframe and has risen more than 5% this week.
In addition to the bullish price structure, a number of technical parameters point to bullishness. The 14-period daily RSI (64.50) is pointing north and suggests strong bullishness. The MACK also hinted at a bullish crossover over the weekly period. OBI is rising and indicating strong bullishness from a volume point of view. The Elder Impulse system has signaled a new purchase.
The high volume indicates strong buying interest and thus positive for the stock. Considering the above factors, the stock is expected to test the level of Rs 1750, then in the short to medium term it will be Rs 1800.
Stock rallied and rose more than 3% on Friday On the technical chart, the stock has seen a good recovery from the lows and has risen from low to about 5% intraday. It has risen above its 200-DMA and is currently trading at one-day highs. It has crossed the short-term resistance zone of Rs 1670-1680. The stock has made a strong bullish candle in the weekly timeframe and has risen more than 5% this week.
In addition to the bullish price structure, a number of technical parameters point to bullishness. The 14-period daily RSI (64.50) is pointing north and suggests strong bullishness. The MACK also hinted at a bullish crossover over the weekly period. OBI is rising and indicating strong bullishness from a volume point of view. The Elder Impulse system has signaled a new purchase.
The high volume indicates strong buying interest and thus positive for the stock. Considering the above factors, the stock is expected to test the level of Rs 1750, then in the short to medium term it will be Rs 1800.
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