Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said: “The counter is in a classical up-trend; in today’s trading session, the stock has given a breakout of a 6-day consolidation. It is moving in the upward-sloping channel over a longer time frame. The overall structure is remunerative as it trades above its all-important moving averages. On the upside, Rs. 250 is facing the susceptible area; above this, one can expect a level of Rs. 280+ in the extended timeframe. On the downside, if there is a correction, the major support level is identified at Rs. 235. MACD (moving average convergence divergence) supports the current strength, whereas momentum indicator RSI (relative strength index) is also positively poised.”Read more:
