Top trending stock, Jindal saw ltd in steel manufacturing top trending stock – top trending stock jindal saw ltd

Mumbai – The domestic capital markets started trading in a mixed mood on Thursday. Stock-specific activity was observed among the best-performing stocks in the broader market. One such stock is Jindal Saw Limited. It has risen more than 5% amid growing investor buying interest. At the same time, the national stock market touched a new 52-week high of Rs 177.

This article is published by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here and subscribe to receive regular shares and recommendations from Teji.

Technically the company stock has largely broken out of its 84-week cup pattern. Weekly volumes have been above average recently and indicate an increasing buying trend among market participants. The stock has found support from its 20-DMA on the daily chart and has jumped nearly 15% in the last 3 days. Interestingly, technical parameters such as the 14-period daily RSI (72.79) are bullish and thus exhibit strong value strength. MACD has given a bullish crossover. As a result the positive bias in the stock increases. Other trends as well as technical parameters are consistent with the stock’s positive price action. In short, such a bullish pattern can be very attractive for investors in the near future.

The stock’s next resistance is Rs. 182 is on. After that he paid Rs. 190 is Meanwhile, immediate support of Rs. 157 level. Investors should track this stock in the upcoming trading sessions.
Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.