Rathmani Metals & Tubes was the top trending stock in the hardware manufacturing sector

Mumbai – Shares of Ratmani Tubes & Metals also rose more than 5% in Monday’s volatile session. Stock-specific action continued on Dalal Street. Investors’ increasing buying interest was seen in fundamentally strong value stocks.

On technical basis the company stock recovered from its 13 week low with above average trading volume. At the same time, it is trading higher than its all important moving averages and a strong bullish trend is being recorded. It is clear that the transaction number is higher than the 30-day and 50-day average transaction number. Thus the huge trading activity in this stock is exhibited. The 14-period daily RSI (68.74) is bullish and indicates value potential in the stock. The MACD showed a bullish crossover a few days ago and has been bullish. The stock is currently 6% above its 50-DMA and 13% above its 200-DMA.

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 company share’s immediate resistance is at the all-time high of Rs 2,140. After that this stock may register further ups and downs. Meanwhile, the 20-DMA level of Rs 2,185 will act as a strong support. Investors should keep an eye on this stock for the upcoming trading session.
Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.