Intellect Design Arena Limited has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The stock has broken a rectangle formation. A decisive break of the resistance at 471 will signal a further rise to 549 or more. The stock has support at rupee 470 and resistance at rupee 570. The short term momentum of the stock is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Intellect Design Arena Limited.
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However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.
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