Trending Share Price: Share price rose almost 9 percent in one day, which stock has a great return? –

Trending Share Price: The broader market witnessed strong buying sentiment at lower levels after 3 days of intense sell-off. Fundamentally strong smallcap stocks have seen fresh buying interest at lower levels as investors remain confident about the valuations of such stocks. One such stock is Gabriel India, which rose over 8% amid strong buying activity.

Gabriel India is one of the leading players in the auto accessories industry, engaged in the manufacture and sale of ride control products across all automotive customer segments. It deals in the manufacture of shock absorbers and front forks for passenger vehicles along with key allied parts.

Technically the stock has seen strong buying interest after correcting around 18% in the last 3 days. It took the support of its 100-DMA and bounced sharply from the Rs.160 level. The 14-day RSI (43.56) has bounced off its oversold counter and appears to be gaining momentum. OBV witnessed a good rise and closed from its lows. In summary, good buying sentiment prevails at lower levels and expected to see good trading volume for the upcoming trading session.

Stock market update

On a YTD basis, the stock has generated around 22% returns to its shareholders despite strong volatility in the broader market. Momentum traders should not miss such moves going forward.

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