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.
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