On the technical charts, the 200-day moving average of the stock was at Rs 939.74 while the 50-day moving average was at Rs 974.15. If a stock is trading above both the 50-day moving average and the 200-day moving average, it usually means that the immediate trend is bullish. On the other hand, if the stock is trading below both the 50-day moving average and the 200-day moving average, it is considered to be in a bearish trend and if it is trading between these averages, then it suggests that the stock can go in either direction.
The stock traded above the signal line of the Moving Average Convergence Divergence, or MACD, momentum indicator, indicating an uptrend in the market. The MACD is known for signaling trend changes in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted above the MACD to reflect “buy” or “sell” opportunities.
On the other hand, the stock’s relative strength index (RSI) stands at 43.33. Traditionally, a stock is considered overbought when the RSI value is above 70 and oversold when it is below 30.
The stock’s return on equity (RoE) stood at 34.4 percent, while return on capital employed (RoCE) stood at 25.94 percent. RoCE is a financial ratio that determines a company’s profitability and efficiency of capital use, while RoE is a measure of a company’s return on equity.
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