As per today’s rise, the stock has crossed its strong resistance level of over Rs 2,000. In addition, the stock is up 18 percent from its latest level. These consist of moving blocks over 10 days, 30 days, and 50 days. All of these factors indicate a strong buying interest in the stock.
According to technical indicators, the stock price seems to be rising. Thus, the 14-day daily RSI (70.27) is in the Super Bullish Territory. This is on top of the latest swing hike. MACD created a positive shortcut. This indicates a strong rise in stocks. Also the on-balance volume (OBV) is at a maximum. In terms of volumes the stock is expected to be with a strong increase. Also the stock price is above all the major moving averages. Based on these factors the stocks are on the upswing.
So far this year the stock price has been better than the market. Based on optimal technology and strong fundamentals, stock prices are expected to rise further in the coming years. This is a good opportunity for traders. The share price is around Rs. 2150 is likely to reach the level.
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