Bumper boom in the stock of this chemical company, signs of further boom, do not miss the opportunity – grauer and weil india share jumped 9 percent

New Delhi : Indian markets witnessed profit-booking ahead of the long weekend, due to which both Nifty and Sensex declined by over 0.30%. However, amidst this market trend, one small-cap stock is stealing the limelight. This is Grauer & Weil (India) Limited. The stock has seen a remarkable growth of around 9%. In this the trading volume has reached 30.5 lakh shares. This is the highest single day volume since October last year. What makes this stock really attractive is its strong technical structure. It is currently trading above its major moving averages. Interestingly, these moving averages tend to move up in a nice sequence. It is also complementing the Guppy Multiple Moving Average (GMMA) established by Daryl Guppy. Moreover, the daily 14-period RSI is rallying after forming base at the 9-period average, supporting the positive bias. Moreover, the daily MACD is pointing north and is staying above the 9-period moving average, which validates the positive bias in the stock.

Looking at this technical analysis, it is likely that the stock will continue its upward journey. In case of any immediate downside, relief is expected from the 20-DMA, which is currently at Rs 111 level.

The stock’s impressive performance and technical structure make it an exciting prospect for investors looking to cash in on the current market trends. Keep an eye on Grauer & Weil (India) Ltd. as it continues to show good bullish momentum.

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