Limited has broken the rising
trend up in the medium long term. This
signals an even stronger rate of growth, but
the positive development may result in
corrections down in the short term. The stock
has also received a positive signal from the
moving average indicator, thus signaling a
continued rise. There is no resistance in the
price chart and further rise is indicated. In
case of a negative reaction, the stock has
support at approximately 250 rupee. Volume
tops and volume bottoms correspond well
with tops and bottoms in the price. Volume
balance is also positive, which strengthens
the trend. The short term momentum of the
stock is strongly positive, with RSI above 70.
This indicates increasing optimism among
investors and further price increase for Hind
Rectifiers Limited. The stock is overall
assessed as technically positive for the
medium long term.
