DSIJ Mindshare

Praj Industries surged as much as 6.16 per cent from the previous close with 4.73 times volume spurt. The stock of Praj Industries gave a resistance breakout on closing basis on Monday. This may be ahead of the corporate results which the company is likely to announce on May 16.

Gujarat Gas opened on a positive note and surged more than 5.5 per cent with 8.68 times volume spurt post Q4 in the last week. Stock rested its Descending Triangle pattern breakout at 860 levels on Monday supported by volume spurt and 14-period RSI giving multiple point downward sloping trendline breakout.

Despite the positive closure of 0.8 per cent in the benchmark indices, market breadth remained slightly weak with 1,123 advances and 1,542 declines. This was in the wake of relative underperformance from the broader markets. There has been a tremendous divergence in both since the start of May 2018.

Asian Paints posted its Q4FY18 results on Thursday, May 10. On Friday, May 11, the stock surged more than 5.5 per cent scaling above all prior resistances and hitting an all-time high. The stock had gained momentum earlier since the end of April itself, may be ahead of the results.

KRBL reported negative growth in the top and bottom-line for Q4FY18. However, the company improved its operational performance for the quarter.