LT, on a daily chart stock price is making higher top and higher bottom pattern from last two trading session, also stock is trading above 20DMA, 50DMA and100DMA respectively suggesting it has potential up move in upcoming trading sessions, indicate positive outlook for the stock.
Technically stock price i.e. 1307 is trading near the previous resistance level i.e. 1311, any trade above this level stock price will extend its rally towards 1408 levels, suggesting it has potential up move in coming trading sessions, indicating positive view.
Tracking Bollinger Band on a daily chart price i.e.1307 are riding the ‘Upper Bollinger Band’ and also the bands are widening, thus indicating positive outlook for the stock.
Momentum oscillator MACD is on the verge of giving positive crossover, also RSI have more room left on upside, which add more bullishness to the stock price.
Looking towards the chart study and parameters, we believe any trade or closed above 1311 level, stock price may extend its rally towards 1408, 1485 levels, whereas 1256 will act as a strong support level, which is the mid-band of Bollinger Band.
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