Top Trending Share: This share jumped seven percent, the price is less than Rs 500, can bet big – stock under rs 500 witnesses a fresh breakout; watch out!
Mumbai: Gokaldas Exports Limited manufactures a wide range of garments for women, men and children. The company is involved in the design, manufacturing and sale of garments. The company supplies to many well-known international fashion brands and retailers. The company’s stock jumped over seven per cent on Thursday on heavy volumes. In just half a day’s trading, the company’s volume has crossed that of the previous trading session. This is the highest volume since October 2022. With this strong rally, the stock has reached a four-month high. It is trading above all its important volume averages. These include the 20, 50, 100 and 200 day daily moving averages.
The stock has seen convergence of three moving averages which include 20 day, 50 day and 100 day daily moving averages. Historically, breakouts that occur after convergence are considered reliable. Its 14-day daily RSI has crossed above its previous swing high and is continuing to climb higher. Its daily MACD is also rising while it is above the average of nine periods. Thus, it is giving a bullish signal for this stock. So keep an eye on this stock in coming days. 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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