On the daily charts, the stock gave an upside breakout in Friday’s trading session. It suggests that the sideways range is about to end. On Friday, the stock rallied by 4% confirming the bullish set up.
The daily momentum oscillators i.e. RSI and MACD are suggesting strength in the upmove. A move above Rs72-73 zone could take the stock above Rs78 in the near term.
Keeping in mind the above-mentioned observations, we suggest traders to BUY the stock in the range of Rs70-73 with a stop loss placed at Rs67 levels for target of Rs79.