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.
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.
This article is powered by ‘Dalal Street Investment Journal’, India’s No 1 investment magazine. To be regularly updated about winning stocks and recommendations do join by clicking here.
Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in any manner whatsoever. The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.