Mumbai: There are many such stocks in the stock market which are seeing a boom. The stock is looking strong on the technical charts as well. One such stock is TTK Prestige Limited. This stock remains in top trending. It is seeing a steady rise. Despite strong volatility in the broader market, fresh buying was seen in good quality midcap and smallcap stocks. This is the reason why the benchmarks are outperforming the indices. TTK Prestige is one such stock. It has risen to around 10 per cent amid strong buying by institutional investors. The quantity recorded in it on Tuesday i.e. 27 December 2022 has been the highest in many days. This indicates a strong participation level in the stock.
Technically, the stock saw heavy buying near the key support level of Rs 775. Prior to this, the stock has bounced several times at this level. After a decent correction of around 25% in just 3 months, the stock has seen good consolidation at lower levels. The volume has been recorded above the 50-day average volume. With this it has reached above its 20-DMA. The 14-day RSI (48.23) has jumped out of the oversold zone and seems to be gaining strength. The MACD is about to signal a bullish crossover, while a sharp rise in the OBV signals strong trading activity. Overall, Tuesday’s price action is expected to generate renewed interest among traders and the stock is likely to be on the radar for trading opportunities. At the same time, the share price is currently trading at the level of Rs 845 on NSE. Momentum traders can keep a close watch on this stock for the upcoming trading sessions. This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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