The 14-period daily RSI has jumped to 80, while the trend indicator ADX is pointing lower, indicating strong trend strength. Interestingly, OBV has reached higher highs and indicates stronger trend strength from a volume perspective. Other momentum oscillators and technical indicators are also indicating a bullish trend in the stock.
18% growth in a month
The stock has gained almost 18% in one month and has outperformed the broader market and rivals. With such positives, the stock is expected to trade higher in the coming days. It has the potential to test the Rs 6400 level, after that it can test the Rs 6500 level. However, a fall below Rs 5800 will negate the outlook.
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Source: navbharattimes.indiatimes.com
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