On Friday, it witnessed a breakout from this small range along with the positive crossover in the ‘RSI-Smoothened’ on daily chart. Traders are advised to buy this stock around Rs 1,380 for a target of Rs 1,510 in coming 14-21 sessions. “Looking at the higher degree chart structure and the placement of ‘RSI-Smoothened’ on daily chart, we expect the stock to resume its uptrend soon. Momentum indicators such as RSI indicates positive crossover shown the strength.The short-term moving averages have converged and are placed with buy signals. Momentum oscillators such as RSI are in the buy mode.The short-term moving averages have converged and are placed with buy signals.

Source: Economic Times May 15, 2017 05:06 UTC