Technically, the stock is in a strong uptrend, rising nearly 15% in the past one month. Volume has been increasing in recent times and is above average and indicates strong trading activity in the stock. Interestingly, all its moving averages are in an uptrend and exhibit bullishness throughout the timeframe. It is currently about 8% above its 20-DMA and 22% above the 200-DMA. The 14-day RSI (72.70) is in super bullish territory and indicates strong strength for the stock A stock’s relative strength is above zero and suggests a stock’s outperformance against the broader market. Other momentum oscillators and technical parameters are consistent with the stock’s positive price action.
The Rs 370 level will act as an important intermediate resistance to overcome, following which the stock may move higher. Meanwhile, supports are placed at Rs 345 and Rs 333 levels. Traders can include this stock in their watchlist to keep an eye on its further profit-loss for the upcoming trading session.
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