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The stock has made sloping double bottom price pattern. Breakout of the price pattern and trend line resistance level is placed at the level of 430. Stock is trading in a particular channel from March 2014. It made its 52 week high of 566.05 in OCT 2016 and then corrected nearly 44% and tests the important support of 310 which is the support of channel. It is currently trading around 425 levels.
- Consolidating around trend line and double bottom price pattern breakout.
- RSI has also shown recovery and now placed at 63.17 level
- MACD has given upward cross over on weekly charts
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Stock has given breakout of upward sloping channel and made his all time high of 1168 on 16 OCT. After giving breakout of upward sloping channel stock has consolidating in a particular range. It is consolidating below its all time high of 1168 level and it’s currently trading around 1124 level and form the resistance zone which is placed at 1130-1133 level. By breaking this level it would also break the trend line drawn from April 2017 which could further invite high volumes.
- Consolidating around higher levels below all time high
- RSI is placed at 59.83 levels.
- Resistance is placed at 1130-1133 level
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