Transport Corporation of India Limited shows weak development in a falling trend channel in the medium long term. This signals increasing pessimism among investors and indicates further decline for Transport Corporation of India Limited. The stock is moving within a rectangle formation between support at 631 and resistance at 654. A decisive break through one of these levels indicates the new direction for the stock. The stock has broken up through resistance at rupee 620. This predicts a further rise.
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In case of negative reactions, there will now be support at rupee 620. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the falling trend and could be an early signal of a coming trend break. The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The stock is overall assessed as technically positive for the medium long term.