The stock after the decent rally witnessed two months back has corrected quite well and has shown indications of bottoming out near 514 level just above the significant 50EMA level of 500 zone and with a bullish positive candle pattern on the daily chart has once again improve the bias to anticipate for further rise, as per brokerage Prabhudas Lilladher.
The brokerage further said that with the RSI cooling off from the highly overbought zone is currently well placed and with a positive trend reversal indicated has signaled a buy and with much upside potential visible from current rate can carry on with the positive move further ahead.
It added, "Wesuggest to buy the stock for an upside positional target of 650-715 levels keeping the stop loss of 500."
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