The stock is in the cycle of higher highs, higher lows and is highly poised to test its all-time high zone in the coming future. In the past couple of sessions, it has seen some correction and is currently placed near its 21-DEMA on daily chart, from where it is expected to see some resurgence. Even on indicator front, the MACD is comfortably placed above its signal-line and the 14-period RSI is soaring northwards, affirming that the stock may surge in the coming future.
The stock has been in a secular uptrend and has maintained the cycle of higher lows on daily time frame, suggesting inherent strength. In the past couple of days, it has corrected nearly ten per cent from its 52-week high and is currently placed near its 21 DEMA. On the daily time frame, it is placed at mean of the Bollinger band, indicating strong support at current levels and a good opportunity for accumulation from a short to medium-term perspective.
has witnessed a consolidation range breakout on the back of robust volumes and has managed to sustain above the same even in these adverse market conditions. As per the consolidation range breakout, the stock is having a huge potential to surge higher in coming future from the current levels. Even on the oscillator front, 14-period RSI has seen a golden crossover affirming the bullish stance in the counter in near future.
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