Technically, the stock has registered a strong price volume breakout despite the slowdown in the market. It jumped above the previous swing high of Rs 100.45. Interestingly, the stock traded above all its key moving averages and showed bullishness throughout the timeframe. The 14-day RSI (60.23) has entered bullish territory and shows strong strength in the stock. MACD has signaled a bullish crossover. Other momentum oscillators and technical parameters also indicate bullishness of the stock.
On a YTD basis, the stock has outperformed the broader market and delivered nearly 250% returns to its shareholders during the period. Momentum is strong and the stock is a likely candidate to trade in this volatile environment.
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