The candlestick formation was accompanied by a marginal increase in volume which adds little weight to the bullishness of the stock. The Relative Strength Index (RSI) which is a lead indicator has crossed above 30 from the oversold zone, indicating that the stock is likely to witness some momentum on the upside.
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This strength is underpinned by robust domestic demand, a sustained capex cycle, and relatively limited exposure to global shocks compared to developed markets.