The stock has been trading sideways in a consolidation for the last 61 weeks at INR 166–220 levels.
On October 7, the stock broke out above the trendline connecting the high of August 2020 to that of June 2021 on above average volume. Simultaneously, momentum indicators MACD and ADX also had a positive crossover on the weekly chart.
Today, the stock broke out of strong resistance and had a “golden crossover” on the daily chart.
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