New Delhi: Amidst the volatility in the stock market, many stocks remain top trending. These stocks have given excellent returns to the investors. One such stock is Finolex Cables. Shares of Finolex Cables (NSE code – FINCABLES) have gained nearly 7% despite strong volatility in the market. Shares of Finolex Cables touched a 52-week high of Rs 709 on Thursday. Technically also the stock is showing strength. The stock registered a huge breakout from its 63-week cup and handle pattern.
In the near term, the stock has broken above its 5-day levels. The technical parameters are showing a positive price pattern. It has a strong positivity in the ADX (37.76) with the 14-day RSI (76.20) in the bullish sector. OBV also reflects the increasing buying interest among investors. Relative strength vis-a-vis the broad market is impressive. It is one of the few stocks which have exhibited strong buying activity despite the volatility in the market. Overall, the technical setup is bullish and the stock is expected to move higher in the near term. Investors can add this stock to their portfolio for the coming trading session.
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