Historically, the technical pattern has worked well for the stock on several occasions. When the stock formed the Golden Cross on June 11, 2020, it soared 25% from ₹1,600 to ₹2,000, said Siddarth Bhamre, director-alternative investments and research, InCred Equities. Similarly, it rose by 10.7% from ₹1,400 to ₹1,550 in October 2019 when this pattern was formed. In August 2016, the stock jumped 10% from ₹500 to ₹550. The indicator has also given a wrong signal in November and July 2015 when the stock corrected after Golden Cross was formed, said Bhamre. This time, the undercurrent is cautious. “Despite the recent correction, the trend for the stock is positive. In the short term, the stock is likely to remain in a narrow band and stay volatile,” said Bhamre.