Share Market Update: 15 percent return in one day! Bad days even in the market stock market? –

Share Market Update: De Nora India Limited (NSE Code- Denora) mainly supplies chloralkaline industry for manufacturing and coating of electrolytic products such as anodes, cathodes, electro-chlorinators as well as water technology products. It is managed organizationally as a single unit. The company’s operations have stabilized, but management is focused on improving profitability in a sustainable manner.

Technically, the stock saw a strong price volume breakout on the chart as it surged over 14% during the initial hours of Thursday’s trading session. The volume recorded is huge and higher than the 50-day average volume, and thus indicates fresh buying activity in the stock. With this, it has risen above all its key moving averages and is above its previous swing highs. The 14-day RSI (66.38) is in bullish territory and indicates strong strength for the stock OBV witnessed a sharp jump and exhibited strong strength from a volume perspective. In short, the stock is expected to show positive price action going forward.

Over the past year, the stock has registered over 65% gains and has outperformed the broader market. Currently, shares of DENORA touched an intra-day high of Rs 791 on the NSE. Momentum traders should keep track of this stock for the next trading session.

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