September 21, 2024

trending stock today, cyient limited became the top trending stock even in the falling stock market – top trending stock cyient ltd


Mumbai – Shares of Cient Ltd rose more than 5% in the opening hours of Friday’s trading session. Interestingly, the negative market environment will not affect the performance of this stock in the near term. Because it has increased more than 20% in last 3 months. While it has risen compared to minus (-) 6% return of the index Nifty 500. Technically the company stock has recorded a breakout from its 59-week cup pattern with above average trading volume. Also he is out of his one month integration period. At the same time, the national stock market has recorded a 52-week high of Rs 989. Its volumes have risen for the fourth consecutive session and reflect the growing participation of investors in the stock. All the major short and long term moving averages of the stock are in the uptrend and all charts are bullish. The 14-day RSI (65.71) is bullish and indicates value strength in the stock. Moreover, OBV is at peak indicating increasing buying. MACD has signaled a bullish crossover. In short, this company stock is bearish on all ratings regarding the bullish technical basis.

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.

The stock’s medium-term resistance is Rs. 1,080 level while the immediate support is Rs. 952 is at the 20-DMA level. Despite the negative market environment, there are great opportunities for investors. Thus investors should keep an eye on this stock in the coming next sessions for upcoming trading opportunities.
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