Mumbai: Today, on the last trading day of the week, the Broader market is witnessing a decline. But in this period of decline, IRCON International, a company related to railways, gained about five percent. Railway stocks are seeing good buying ahead of the budget. The company’s stock on NSE reached a level of Rs 64.20. Technically, the stock has given a strong price volume breakout from its consolidation pattern. With this rally, the stock is trading above all its important short and long term moving averages. Its 50-day moving average has crossed above its 20-day DMA, indicating medium-term positivity. Its volume has increased for the third consecutive day. This is an indication of increasing buying activity in this stock.
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