Since November 2015, the stock was in a major consolidation mode within the Rs 629-400 band on the weekly chart. On the daily chart, the stock has seen a breakout of the downsloping trend line at Rs 663 level. On the weekly chart, it is sustaining above its 20-day, 500-day and 100-day SMAs, which support bullish sentiments. The breakout of this trend line happened at Rs 525 level on the weekly chart. Weekly momentum readings are in rising mode and not extremely overbought.

Source: Economic Times January 08, 2018 04:52 UTC