Rajat Bose of rajatkbose.com told CNBC-TV18, "Igarashi Motors
closed at Rs 607.65 at the NSE and while doing so it did two things. One, it crossed the down trendline - that was an intermediate down trendline; it crossed and it crossed comfortably. Second, from all the short-term moving averages it has given a buy signal, in fact there is a short-term moving average confluence that means all the moving averages are joining at a point and they are indicating that further upside is likely here."
He further added, "The first resistance is around Rs 625, so I have kept two targets, initially Rs 616 to work with and then Rs 623 and I expect these levels to be scaled up even today or at the most tomorrow, by tomorrow it should be scaled up."