Tejas Networks Limited has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. The price has also broken a resistance level in the short term and given a positive signal for the short- term trading range.
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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 760 rupee. Positive
volume balance, with high volume on days of
rising prices and low volume on days of falling
prices, strengthens the stock in the short
term. The stock is overall assessed as
technically positive for the medium long term.
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