Trending Stock: More than 5 percent return in one day! 500 rupees is filling the pockets of investors –

Trending Stocks: Gokaldas Exports Limited is engaged in the business of designing, manufacturing and selling a wide range of apparel for men, women and children and caters to the needs of several leading international fashion brands and retailers.

On Thursday, the stock rose more than 7%, supported by a huge surge in total trading volume. We are halfway through the trading session and the volume for the day has already surpassed the volume of the previous trading session. In fact, it registered the highest volume since late October 2022. With this strong rally, the stock marked a new 4-month high.

Considering the stock has marked a new 4-month, it is trading above its all-important moving averages i.e. 20, 50, 100 and 200-DMA. One of the key observations is that the stock has seen a convergence of the three moving averages i.e. 20, 50 and 100-DMA and historically, breakouts occurring after convergence have been reliable.

The 14-period daily RSI has jumped above the previous swing high and is inching higher, which bodes well for the stock. The daily MACD is pointing north, sustaining above its nine-period moving average thus validating the stock’s positive bias. So, keep a close eye on this stock!

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