Top trending stock: The price rose 4 percent in one day, which shares filled investors’ pockets? –

Top trending stocks: The stock market opens at 9 am today. One of the major stocks today is the stock of Cyient Ltd. Shares of Cyient Limited (NSE code – CYIENT) rose over 4 percent in the initial hours of Wednesday’s trading session and became one of the top gainers among the Nifty 500 stocks. Interestingly, a bullish technical setup has been seen on the stock chart today amid strong positive sentiment on the stock of Cyient Ltd. Technically, the stock has crossed its previous swing high and formed a high high low pattern on the technical chart. Today’s price action has been supported by above average volume and thus indicates strong trading activity in the stock. The stock has traded above all key moving averages and has shown a bullish trend throughout the timeframe. This stock’s 14-period RSI (62.45) is located in bullish zone and indicates strong strength of the stock. The OBV is rising along with the rising MACD histogram, which hints at a bullish condition. Overall, the stock is in a bullish trading setup.

The Rs 970 level in this stock will act as medium-term resistance following which the stock may move higher. Meanwhile, the 20-DMA level of Rs 880 will act as immediate support. Cyient Limited is primarily engaged in providing software enabled engineering, GIS services and product life cycle processes. Currently, shares of CYIENT are trading at Rs 928 on the NSE. Keep an eye on this stock to track its further progress.

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