After bottoming out in the first week of February at Rs 340, the stock had touched a high of Rs 724. The second and third bottoms were formed at Rs 388 and Rs 402 during the month of June and August, respectively. The formation of higher bottoms is a positive sign and hints at a bullish outlook.

It has been further confirmed by the jump in volume. The position of oscillators is also encouraging. The 21-day RSI has managed to form higher bottom and is in a positive mode. Similar can be said about the medium term MACD. The position of the oscillators suggest that the stock will at least cross its immedate top if Rs 465. On can take a long position. Keep a stop loss at Rs 402.