The stock has
also broken an inverse head and shoulders formation.
A decisive break of the neckline at approximately 17.38
will signal a further rise to 20.38 or more. The stock
has marginally broken up through resistance at rupee
17.30. An established break predicts a further rise.
Volume has previously been high at price tops and
low at price bottoms. Volume balance is also positive,
which strengthens the trend break. The stock is overall
assessed as technically positive for the medium-long
term.
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