Top Trending Stock: The stock of this government company jumped six percent early in the morning, do you have it! – engineers india limited jumps over six percent
Mumbai: Shares of Engineers India Limited jumped over six per cent today despite market volatility. Investors are getting huge interest in this stock. Along with this, it was among the top gainers in Nifty 500 stocks today. Technically the stock has registered a strong price volume breakout from its pennant pattern. This is its highest level of 52 weeks. Its volume is trading above average and it is also showing strong buying activity. Its 14-day RSI (69.04) is in the video territory, showing strong strength in the stock. Its ADX (28.55) is also trending up sharply showing trend strength.
Its relative strength is above zero and it is trading better than the broader market. All its short term and long term moving averages are showing bullish signals. The stock is showing bullish technical setup. Therefore, in the coming days, there can be a lot of growth in it. Its immediate support is at Rs 85, while medium term resistance is at Rs 95. Its stock is currently trading at Rs 89 on NSE, which is its highest level of the day. Traders should keep an eye on this in the 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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