The stock is up over 11 per cent on Friday on back of huge spurt in the volumes. So far, total traded volume has surpassed its prior trading session volume and moreover, it is highest since September 2022.  

Talking about the technical view, the stock has witnessed breakout of the tight range with a massive volume and closed above the moving average ribbon and its key short-term moving averages.

Don’t miss out action on this textile stock in the coming week as the flag breakout indicates that the stock could remain in the limelight.

Amidst all this, there is one stock that has witnessed a breakout of cup & handle-like pattern. And what’s important is the fact that this stock belongs to the prestigious Tata Group! Moreover, the company has a good dividend track record and consistently declared dividends for the last five years.   

It is not a usual sight to see a backbencher topping the class but this actually took place on D-Street on Thursday. The backbencher sector is none other than Nifty PSU Bank

The stock jumped more than 4 per cent on Wednesday and as a result, it has logged a fresh 52-week high.

As the stock is trading near its all-time high, it is above all the short and long-term moving averages. This setup is indicating a clear uptrend in the picture of the stock.

The strong move by the stock has led it to reclaim its 20-DMA. Meanwhile, the elder impulse system has turned bullish.   

One such sector was Nifty PSU Bank, which gained as much as 16.45 per cent and emerged as the top-performing sector of the month. Interestingly, all the stocks of this sector have managed to deliver positive returns in the month of January. However, one stock that commands special attention is 

The breakout has been witnessed along with a huge spike in the volumes as the stock has registered highest single-day volume since August 30, 2021. Interestingly, the 14-period daily RSI has honoured the RSI super bullish range Shift rule.

On Monday, the stock recorded double-digit gains along with a rise in volume. Volume for the day has so far crossed its previous day volume and it is greater than its 10-day as well as 30-day average volume, which indicates larger participation in the direction of the trend.

On Friday, the stock witnessed a staggering move of over 10 per cent along with a sharp jump in the volumes. The stock recorded its highest single-day volume so far in the last six months! Its volume already exceeded the prior trading session’s volume and has become the highest single-day volume in the last four months.