The stock of Syngene, in a good uptrend since the beginning of April, appears to be consolidating for the past three week. Whatsoever, the trend remains bullish the price lies above the 20-SMA, indicating that the stock is still inclined to an upward move. Also, a rising trend line support coincides at current levels, making it a considerable support. The stock is likely to bounce off from the current support levels and we believe it is a right to initiate long positions.