The stock rose above 700 on strong volume in a fragile market. The stock opened at Rs.252.65 and made a low of Rs.249.95. The stock has fully closed the opening downside gap of December 14, 2022.
From a technical perspective, the stock is trading above its 20, 50 and 200-DMA. In a span of about two months, the stock has managed to move above its 200-DMA. The 14-period RSI has managed to cross the 60 level after almost six months and at the same time, it has recorded a new swing high, indicating good conditions for the stock.
Today the stock level is seen around the Rs 275 level and once it is able to sustain above this level the stock can move well.
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