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HomeMoneyThis stock has climbed 20 percent in three days, do you have...

This stock has climbed 20 percent in three days, do you have it?

Highlights

  • Shares of Graphite India rose 10% today
  • The RSI of this stock jumped to 66
  • It has given more than 62% returns this year

Mumbai
Looking at the daily technical chart, today Graphite India formed a double bottom pattern with a base price of around Rs 400. It has given a breakout from its pattern and has risen by over 10 per cent. This breakout has been confirmed with an increase in volumes. In the last three trading sessions, the stock has rallied almost 20 per cent from its lows with rising volumes. The RSI of the stock has jumped to 66, indicating strength.

Elder Impulse System stock is showing strong rally. Looking at the weekly chart, the stock has formed a base near its 100-WMA and has been climbing since then. The stock is already trading above the 20- and 50-DMA and is indicating an upside in technical parameters. It is likely to continue its momentum at higher levels.

Where will India’s exports reach next year, know here

Excellent performance in medium term
The stock has performed well over the medium term as well, as it has given returns of over 62 per cent on a year-on-year basis. Thus, it has outperformed its peer stocks. Moreover, in a short span of one month, it has registered a rise of over 20 per cent in its stock price.

Graphite India Limited manufactures graphite electrodes, anodes, other carbon and graphite products and calcined petroleum coke. The company has also diversified into specialized products like flexible graphite sheets and tubes. In addition, the company undertakes research and development activities in the area of ​​carbon composites for defense aircraft applications. With a market capitalization of Rs 9,577 crore, the company is one of the most promising midcap companies in the sector. Being a technically sound and fundamentally strong stock, it attracts the attention of investors.

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