An uptrend line has been drawn on the chart to show the uptrend. The price can be seen heading towards the same trend line. The rectangle shows the sideway range that has been followed for months together with a final break out towards the end of December cautiously on lower volumes. However, the doubt comes in with recent fall in price on account on account of rise in negative volumes (23rd Jan). Its better to go for a long position on the trend line if we can witness an increase in volumes compared to the average volumes witnessed in the recent past.
Comment:
As anticipated, there's was a pickup in volumes on 24th Jan and the stock went close to the trend line and pick up its pace.