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– Stock May See Some Downside Ahead

The stock price of

may fall in the coming days as technical indicators are showing signs of weakness. Recently, a candlestick was formed completely outside the upper band of the Bollinger Bands, which usually means the stock is in an overbought zone. This suggests that the stock price has gone up too quickly and may not sustain at higher levels for long. At the same time, the RSI (Relative Strength Index) is at 79, which is also considered to be in the overbought range. When RSI goes above 70, it often signals that the stock may see selling pressure or a pullback soon. Supporting this view, today the stock has already fallen by around 2%, indicating some profit booking by investors. Currently, the stock is trading at ₹265.43. If the fall continues, the price may move down towards the 200-day moving average, which is near ₹247. This level is expected to act as a strong support zone, where the stock might take a pause or bounce back. Traders and investors should stay cautious, as more downside could be seen before the stock stabilizes.