New Delhi: There has been a tremendous boom in the shares of Chembond Chemicals. Chembond Chemicals (NSE Code – CHEMBOND) shares have seen a jump of 11 per cent on the first trading day of the week itself. Tremendous buying is being seen in the shares. The Mumbai-based specialty chemical company has delivered a strong performance in the recent quarters and attracted investor attention.
Technically the stock has reached its 68 week breakout. The stock has registered breakout in volume with handle pattern. Such breakouts are giving bullish signals in the medium to long term. Due to which the stock reached its fresh lifetime level of Rs 303. The share price on NSE has reached Rs 303 in the opening hour of trading. Apart from this, all its main moving averages are in an uptrend. All are showing bullish signs. The 14-day RSI remains at (71.15), which is in the super bullish zone. This indicates strength in the stock. MACD histogram is rising and the stock is showing strong uptrend potential. That is, overall the stock is showing bullish momentum and is expected to remain a strong bullish in coming days. If we look at the report of the last one year, then the stock has given a return of 50% to the shareholders. Momentum traders should keep a close watch on this stock in coming days. This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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