Purchase @ CMP: Rs 1,596
Goal: Rs 1,700
Cease loss: Rs 1,540
The inventory has resumed its uptrend after breaking out of a bullish flag sample on greater volumes. Additional, it has closed past the higher finish of the Bollinger bands, confirming the bullishness. Technical indicator RSI can be confirming that the inventory it buying and selling in a bullish territory.
Purchase @CMP: Rs 945
Goal: Rs 1,000
Cease loss: Rs 910
The inventory has resumed its uptrend after breaking out of a falling wedge sample on wholesome volumes. Additional, it’s buying and selling above all its key short-term transferring averages (i.e. 20-DMA and 50-DMA), confirming the bullishness. The constructive directional indicator (DI) has crossed over its unfavorable counterpart on the weekly chart, suggesting greater ranges.
(Aditya Agarwala is Senior Technical Analyst at YES Securities)