The short and medium term moving averages (12-day and 48-day) have entered into a positive phase. Even in weekly charts, the price has moved above medium and long term averages- a clear bullish sign. A subtantial jump in volume further confirms the bullish trend.

In weekly charts, 10-week RSI has broken its 10-month falling trend line. The medium term MACD is already in positive mode. All these factors point towards a bullish outlook. Investors can take a long position at the current level.

Deepak Singh Tanwar