Synopsis
The price is likely to attempt a trend reversal. A large white-bodied candle has appeared. Its appearance near the crucial double bottom support and its occurrence with large higher-than-average volumes adds credibility to the support levels of 180-181. Also, for the last two months, RSI has shown a strong bullish divergence against the price.
Expert: Milan VaishnavIndian equities staged a strong relief rally on Friday. Importantly, the rally was not only on the basis of short covering; fresh longs were also added. This is evident as Nifty October futures added over 5.79 lakh shares or 5.06 in Net Open Interest (OI). A rise in price along with rise in OI means the addition of fresh longs in the market.
This telecom infrastructure stock has been underperforming the general markets
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