The stock is currently facing resistance from an important trendline and the 206–210 price zone, forming a channel pattern on the daily timeframe. If the stock breaks this zone and trendline and closes above 212, it could see a good upside move; otherwise, it may test its support trendline.
Since the stock is yet to give a breakout, the potential targets are ₹238 and ₹255 as T1 and T2 in the coming days.
A strong support level and stop loss should be placed at ₹199, but only if the stock manages to close above the Rs 212 level.
The stock has delivered a good performance, with a return of 11.60% over the past 1 year and 49% in the last 6 months.
It is currently experiencing good buying pressure and has crossed its 50-day moving average on the volume bar in the daily timeframe.
