1. Its long term trend is up as price is making a higher top higher bottom formation and mid and long term EMA’s are moving upwards.

2. Recently the price has gone through a major correction and the script was available at the 300 EMA of around 790. For a long term investor, such dips are like goldmines as they get an opportunity to buy a high growth stock at a heavy discount. From that level , the price has slowly moved up and has touched a recent high of 929.9 . This is an indication of accumulation at lower levels.

 3.  Recently , we have seen a lot of volatility in the price given the presence of international and national events of extreme importance. This has resulted the price moving around the weekly demand zone. This is a high probability area for an upside move as institutional buyers are very likely to accumulate the script at these levels. The weekly demand zone of 888 – 858 has been held strongly since 4 weeks. At the current price of 896 , a short term investor can make a safe entry with an aim of new all time high ( 1187 ) .

4.  On the weekly chart , an ascending triangle has been observed with a height of 176 points. A breakout will fetch a target for 1100 . A safe entry for short term traders in cash and F&O will be above 929 ( spot ) .

5. If we consider the previous swing from 98 to 1182 and use the fibonacci retracement tool , we can observe that the correction has occured at the 38.2% level which is a decently healthy correction for such a long running rally. The Fibonacci extension tool shows that a future high around 1650 – 1900 is possible . This gives our long term investors an upside scope of 84% to 112 % !