Godrej Industries Friday’s Top Trending Stock

Mumbai – Broader markets continued to decline on Friday as investors remained skeptical about negative global cues and the direction of the economy. Meanwhile, stock-specific action remained on Dalal Street as investors bought at minimal levels in better value midcap and smallcap stocks. One such stock is Godrej Industries. It has jumped more than 6% on more stock buying activity.

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Technically, this company stock has registered a strong price volume breakout from its consolidation pattern. After rallying 12% from its recent high of 489, the stock experienced a strong buy at the lows and recorded gains on all its major short-term and long-term moving averages on the technical chart. Interestingly, this stock has recorded a massive rally. This indicates a fresh buy in the stock. The 14-day RSI (57.88) has bounced above 40 to support the price action, displaying increasing bullishness in the stock. MACD is a bullish crossover indicator. The share’s TSI and KST indicators are positive for the stock. In short, this stock has become technically strong. In the coming session too, its trend towards increasing value can be seen.

Shares of Godrej Industries hit an intra-day high of Rs 460 on the national stock market. Investors should keep an eye on this stock in such a volatile market environment.
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