MESSAGES

The stock has decisively surpassed its past one-year "multiple resistance" zone at Rs 300 levels on a closing basis, indicating a strong comeback of the bulls. This breakout is accompanied with huge volumes, which signals increased participation. On the daily , weekly, and monthly timeframes, the stock has witnessed trend reversal as it has confirmed higher top and bottom formations. The stock has recaptured its 20, 50, 100, and 200-day SMA (simple moving average) and rebounded sharply, which confirms the bullish trend. Its daily and weekly "Bollinger band" buy signal indicates increased momentum. The daily and weekly RSI (relative strength index) is in positive terrain, which signals rising strength. Investors should buy / hold this stock with an expected upside of Rs 345-385, with a downside support zone of Rs 290-280.