Target: Rs 3,700
Stop loss: Rs 3,300
The stock has formed a piercing line pattern on the daily chart and a double bottom on the hourly chart, both of which suggest a potential short-term bullish reversal. After a brief two-day correction, the stock appears ready for a renewed uptrend. On the hourly chart, it has consistently held above the 50 EMA, reinforcing the ongoing bullish sentiment. The RSI has also given a bullish crossover on the hourly timeframe, supporting further upside potential. One can consider initiating a long position with a target of Rs 3,700, while placing a stop-loss at
(Rupak De, Senior Technical Analyst at LKP Securities)
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