On the daily chart, the stock has given a bullish breakout and in the process has also made an intermediate top, suggesting that its short-term trend has turned up.
Over the last two weeks, the stock was on a downward trend. The upmove was well supported by healthy volumes, which suggest accumulation. Further supportive technical oscillators are also positive.
We recommend traders to BUY the stock between the range of Rs39-41 for an initial target of Rs45. It is advisable to maintain a stop loss of Rs37.