The steep rise seen in the stock pushed it towards overbought levels; hence, some consolidation in the short term cannot be ruled out. Short-term traders can look to buy the sock on dips for a target of Rs 1400 in the next 3-4 months, suggest experts. The relative strength index or the RSI on the weekly timeframe is rising.
US Stocks: Nasdaq, S&P end lower as tech megacap declines outweigh upbeat chip outlook
Indian markets saw a mixed close on Thursday. While the Nasdaq and S&P dipped due to Big Tech’s AI spending concerns, the Dow edged higher.