Current Observation: The stock had faced strong resistance around the levels of Rs 122.5-124.5 since the second week of June 2018. Presently, the stock has managed to give a breakout of horizontal trendline along with robust volumes. The stock is trading above its important short term moving average, i.e. 21-day EMA. The RSI on the daily chart is in a rising trajectory and trading in bullish territory. Daily MACD is bullish as it is trading above its signal line. The level of Rs 117 is likely to act as a strong support for the stock and this can be maintained as a stop loss. On the upside, the stock is likely to touch the levels of Rs 133-135. Conclusion: We expect the stock to continue with its upmove and head towards Rs 133-135 in the short-medium term. Traders can keep a stop loss of Rs 117 for this trade.