As per Dow Theory, Indus Towers has over the years formed a classic "Accumulation - Participation - Distribution" pattern which has since mid-2019 reset back into the Accumulation phase.
On the fundamental side, 5G Technology is expected to be one of the big plays in the coming years.
Indus Towers has also slowly but steadily been accumulating into forming a bullish pennant. It may take some positive news or event to push it towards a breakout, but sooner or later looks likely.