trending stock today, jk tire and industries top trending stock in profit taking session – top trending stock jk tire and industries ltd

Mumbai – After a somewhat steady start, the major indices soon returned to earlier highs, suggesting investor profit-taking. However, their buying interest was seen in fundamentally strong midcap and smallcap stocks. Meanwhile, the stock of JK Tire & Industries Ltd rallied more than 5% in the early hours of Tuesday’s trading session amid rising buying. The stock has bounced off its 20-DMA after 21 trading sessions. It is also currently trading at previous high levels.

Technically, this company stock has registered a price volume breakout on the daily chart. MACD has signaled a bullish crossover and OBV has also risen. This shows the positive bias of the stock. The 14-day RSI (60.18) is bullish and indicates increasing strength in the stock. In short, the stock has gotten stronger technically and is likely to see more volatility.

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 tire maker’s share in the smallcap group has gained nearly 30% this year, outperforming most of its competitors during the period. The company management expects higher demand and better business growth in the coming quarters.

Currently, the company’s shares are trading at Rs. Dealing at 180. Investors should keep this stock on their watchlist to track its further progress.
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