The primary index NIFTY finished the week with a net loss of 112.75 points (-0.61%), which was negative. The key level to keep an eye on is still 18,600. This midcap pharmaceutical stock exhibits many technical triggers that might support certain pharmaceutical trades and a possibility to confirm its trend reversal.
In June, the stock price of Birla Corporation Ltd produced a bottom around the Rs 820–Rs 825 levels. Since then, it has built higher peaks and higher bottoms. If the price moves higher than this pattern, the stock might rise by as much as 7.65%.
A rise in volumes has coincided with the most recent price movement. They have continued to trade above the 20-day moving average, demonstrating that volume was involved in the price movement.
The primary indicator, the Relative Strength Index (RSI), broke through resistance along a trendline that was dipping downward. Bullish implications are triggered by this breakthrough.