The gap area is very large and now the prices are at the 20-day moving average line. So, again, we could see a kind of a bounce back in this sector, but the trend has not significantly changed in the sector. It just formed a good rounding base pattern on the weekly chart and now on the daily chart, it has gone up sharply with good volumes. So one can buy at the current level, and keep a stock loss of 1634. At current levels, it has shown a strong relational breakout pattern and one can keep a stop loss of 2536, and the target will be of 2680 and 2730 levels.

Source: Economic Times July 22, 2023 15:39 UTC