if we look into the long term chart of this stock we can simply observe that this has given a big fall in a year of 2011, the falling level was from 215 to 25.
after that stock has done consolidation for 2 years on chart in a range of rs. 20-45, but this stock price indicating some momentum on chart, and we can only assume that if this momentum continues then price can give good output.
as per the current chart we can see that price able to move above the long term resistance level on chart.
even we can say that price is out from “FALLING WEDGE” now.
RSI taken support on every level, which is clear on chart, and now with price rsi also able to move above recent resistance level.
so this basic study can indicate us that, if price able to move above 31.5-32 level on closing basis then one can buy and hold this stock.
so buy it above 31.5 sl 25 target 40-50 and if anytime price able to move and sustain above 50 then hold this for more move till 85-125-150 levels also.