Mumbai: Heavy selling has been seen in the domestic stock market for the last few days, but some important stocks are showing interest among investors at lower levels. These also include Route Mobile. Investors are showing interest in it and that is why it jumped over 4 per cent in opening trade today. Its previous swing high is Rs 1590. From this level it has declined by 22 per cent. But there is a lot of interest in it at the grassroots level. With this, it has climbed above its 100 day moving average of Rs 1365. On Wednesday, its volume was higher than the 10-day and 30-day average volume. This is a sign that investors are showing interest in it.
Along with the positive price action, technical parameters are also indicating a bullish trend in the stock. Its 14-day daily RSI (44.83) is rising above lower levels and is improving strength. Its ADX (20.05) is also rising and showing strong trend strength. Its OBV is also up and showing good participation. Overall, the valuation of this stock looks attractive and from here it can see an uptrend. Root Mobile Limited is in the business of developing messaging and voice application program interfaces. The company provides technology services to the mobile communications industry and its associated businesses. Investors can add it to their watchlist.
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