The stock managed to advance 1.7 per cent in the midst of choppiness. It took support at around the key base level of Rs.912 and rebounded.
The stock is now moving in a sideways range and faces a key resistance at Rs.970. To strengthen the bullish momentum, the stock must breakthrough this level for a rally to Rs.990 or Rs.1,010 in the short term.
On the other hand, any declines can find support at Rs.925 or even at Rs.912 where the 200-day moving average hovers.
The stock needs to decisively move above Rs.970 or decline below Rs.912 levels to get a clear direction on its short/medium-term directions. The indicators in the daily chart are showing mixed signals.
Traders with a short-term view should tread with caution in the upcoming week. Important supports below Rs.912 are at Rs.900 and Rs.880 levels.
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