It breaks a multi year resistance. Spread chart shows a breakout before than the stock itself. It has shown Relative strength (not RSI) wrt to benchmark index.
It is showing same chart formation as KPIT tech, TCS, Niit LTD. All three have given a spectacular move.
IT sector also in flavor.
It has formed a rounding bottom pattern after 2 years consolidation. It has showed Relative outperformance wrt benchmark index for quite a long time. Ratio chart has given a clear breakout. 40% upside is possible in days to come. R:R is favourable as of date.
It broke out after forming a Rounding bottom pattern, retested the support levels with a huge massive volume bar. R:R to be managed cautiously.
It is showing relative strength wrt the benchmark index, and the spread with NIFTY is also giving a breakout.
The stock has tested its resistance a several times, if it closes above the resistance a quick move of 10% can be expected, which will be its 1st Tgt. Probabilities are high since the volumes in the recent times have increased tremendously.