Stock is in support zone

Poonawala Fincorp stabilized well after a moderate decline. Over the past two trading days, the stock has sharply risen from its support area, with significant trading volume. The recovery of the Relative Strength Index (RSI) from 40 to about 53 suggests strength in the stock’s movement.Furthermore, the stock is currently trading above its 20-day simple moving average (SMA). The narrowing of the Bollinger bands indicates decreased volatility, and if the stock breaks above Rs 482, it could attract even more buyers.