An approximate horizontal trend channel in the medium long term is broken up. Continued strong development is indicated, and the stock now meets support on possible reactions down towards the trend lines. It also gave positive signal from the rectangle formation at the break up through the resistance at 676. Further rise to 855 or more is signaled. Make money using our bank nifty option tips on a daily basis.
The moving average indicator has also given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 682 rupee. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the stock. The stock is overall assessed as technically positive for the medium long term.