Stock was in downtrend since last one year but since november it is trading sideways forming base at 76.
Today stock managed to close above its 100 DMA and already trading well above its 20 and 50 DMAs.
Above argument is enough to state that stock has changed its trend from bearish to bullish but bullish trend will confirmed above 200 DMA and trendline as shown in figure.
Due to baseline stock should bounce back in short term to 90.
Stop loss at 78 recommended.
CMP - 81.05
