Interestingly, the break-out has been accompanied by a huge jump in volume, which is a positive sign so far as the technical position of the stock is concerned.

The position of oscillators like RSI and MACD have improved drastically. The outlook for the stock is positive. So far as the uptrend potential is concerned, the major resistance for the stock lies only around Rs 460, which leaves enough room for appreciation.

Traders as well investors can take a long position as the current level for short-to-medium term gains. For traders, the stop loss should be kept at Rs 344.