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* On an hourly chart, the stock is forming a Rounding Bottom formation which suggests an upside move in the counter.
* Moreover, a sudden spurt in the volume has been witnessed during trading session which shows an accentuate buying in the counter.
* Additionally, the stock has bounced back after taking a support of its 21 as well as 100 Hourly Exponential Moving Averages which shows an upside rally in the counter.
* A daily momentum indicator RSI reading is at 44.75 level with a positive crossover which points out for a positive breath in the stock.
* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.
Buy Finolex Cables Ltd @ 476 Stoploss 454 Target 515
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