Gladiator Stocks - Excel Industries - ICICI Direct

Technical View

The Chemical space has seen positive momentum in past few weeks. Within this space Excel Industries has remained laggard. However, over past few weeks we have observed share price holding up well and forming a bullish pennant formation above its 10 week EMA subsequent to breakout from two year rounding bottom formation

Structurally, after 7 quarters base formation the stocks has witnessed breakout with volumes, the stock is on verge of resolving out of bullish pennant formation, signalling a positive price structure

Among oscillators RSI has generated bullish crossover recently thus validates positive bias in the stock

For details, click on the link below: Link to the report

Shares of EXCEL INDUSTRIES LTD. was last trading in BSE at Rs.1243 as compared to the previous close of Rs. 1240.55. The total number of shares traded during the day was 20751 in over 3157 trades.

The stock hit an intraday high of Rs. 1285.05 and intraday low of 1228.9. The net turnover during the day was Rs. 26232066.

Source : Equity Bulls

Keywords