“The stock in this quarter posted a strong Bullish candlestick bar with a golden crossover of long-term moving averages (50,100 & 200) on daily charts. Price target projected for this pattern is placed at Rs 345 levels & a move below 120 levels on a closing basis would negate the same,” recommends Deodhar.
The stock continued to remain the most valued listed company in the country despite the decline.
Domestic equities ended flat on Friday as MPC matched market expectations, while supportive measures announced by the RBI Governor helped strengthen the rupee.
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