In this week so far, the stock rallied over 5%. After a long consolidation, eventually the stock cleared the short-term resistance of 129 and formed a bullish candle on weekly charts, which is largely positive.
Stocks that were in focus included names like GR Infraprojects, which rose 0.33%, BPCL, which fell 1.49%, and Hindustan Petroleum, whose shares declined 2.54% on Wednesday.
At higher level price gave some correction till 105 to take the support of previous bottom and after consolidating around lower level price gave sharp upside rally to make new highs of 128 odd levels.
Stocks that were in focus included names like Suzlon, which rose 4.91%, Star Health, which gained 0.21%, and Zomato, whose shares jumped 1.48% on Monday.
It has also formed higher highs and higher lows patterns, and it is trading above all important moving averages. The structure of the counter becomes so lucrative for long-term investors.