As per technical indicators, the stock is showing great strength. The 14-day daily RSI (64.58) is in bullish territory and is above its former swing high. The MACD histogram is rising and indicating a bullish trend in the stock. Meanwhile, OBV is at its peak and shows strong volumetric strength. The Elder Impulse System is maintaining its buy signal while the KST and TSI indicators are on a bullish side. Furthermore, the volumes are above average, indicating strong buying interest among market participants.
The stock has shown a gain of over 17% on a YTD basis and has outperformed the broader market. Considering its upside, the stock is expected to touch Rs 700 level in the short to medium term. This is a good swing trading opportunity and traders can expect decent profits from this stock.
This article is powered by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here for regular updates on Winning Stocks and Recommendations.
(Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.)
