A bullish engulfing candle has occurred near this support level and this signals likely resumption of up move. The RSI remains neutral showing a higher bottom and signalling the primary momentum remaining intact.The stock has remained under corrective retracement after testing 1620 levels. A bulling engulfing pattern has emerged near multiple support levels. The RSI indicator has made a steep rise and also has made a trend reversal signalling a ‘buy’ rating on the stock. The stock has consolidated well in the band of Rs 375-400 and closed at Rs 409.

Source: Economic Times August 07, 2017 04:52 UTC