Watch out for the AVWAP from the recent highs!

With solid fundamentals backing the current move in GLAS, this could just be the early phase of the uptrend. The AVWAP from the current highs is around Rs 21.10 - Buyers need to keep an eye on this level. Closing above this on high volume would likely put the buyers back in control and initiate a strong upside move.

Right now, the stock is trading above a rising 50 and 200 day MA meaning that both the medium and long term trend is very much favoring the buyers.