PNC Infratech Limited has broken up through the ceiling of the rising trend channel in the medium-long term, which signals an even stronger rising rate. The positive development, however, may give rise to short-term corrections down from today's level. An inverse head and shoulders formation is under development. A decisive break of the resistance at 313, ideally with an increase in volume, signals a further rise.
The stock has support at rupee 294 and resistance at rupee 390. Volume has previously been high at price tops and low at price bottoms. Volume balance is also positive, which strengthens the trend. The stock is overall assessed as technically positive for the medium-long term.
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