Following the Asian market, the domestic indices opened on a positive note on Thursday. The markets cut some gains in the afternoon session but managed to remain in green.

Interestingly, despite correcting over 20 per cent from the highs, the stock did not enter into the oversold region on RSI. Recently, it has seen a crossover of a nine-period average thereby, supporting the positive bias.

On Tuesday, the domestic equities continued the upwards journey for the second straight session as low-level buying pushed benchmark indices higher. Lack of major selling reasons in the domestic and global market along with a drop in commodity prices seems to have augured well for the markets. 

The equity markets traded cautiously ahead of the US Fed meet outcome with strength seen in the first half of trading session and selling pressure in the second half of the trading session .In yet another volatile session, the benchmark indices ended lower with Nifty closing below 15,700 level.

The strong move by the stock has led it to reclaim its 20-DMA. Meanwhile, the elder impulse system has turned bullish.