There are many reason why we feel it may rise.
01. It has bounced back from quarterly sell target 02 level.
02. pattern in .
03. To rise and clear quarterly targets it had to come down to gain momentum for up move.
04. (3,3,14,Close) states it may rise.
05. (14,CLOSE) Is also of the same view.
06. (20,CLOSE) Is also rising.
Keeping all the above indicators in view along with the chart pattern we expect it to rise. Our buy call shall be from BUY above :29.60 with a SL @: 30.39 Tgt 01: 29.8 Tgt 02: 32.19 Tgt 03: 32.80. Chances are that it may even touch 40. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.