Over the past many weeks, the stock has been in rangebound trade, in a rectangle formation. A bullish divergence is observed on daily RSI. After witnessing a sharp decline from Rs 1,040, the stock found its bottom near Rs 395-mark couple of weeks back. A bullish divergence is observed on daily RSI. The stock has a multi-point resistance in the Rs 484-488 range and presently trades in an ascending triangle formation.

Source: Economic Times May 06, 2019 06:18 UTC