Trident zooms over 4 per cent; witnesses breakout with spurt in volume!
The stock of Trident is seen buzzing on the bourses as it is trading near the upper limit of the day. The stock is up by 4.65 per cent at Rs 23.65 while the upper limit for the day is Rs 23.70. The stock has recorded a fresh high on Friday.
Interestingly, the move is seen on the back of the spurt in the volume. We are only into the first half of the trading session and the stock has already registered more than 50 per cent of the volume, which was seen in the prior trading session.
The stock has witnessed a breakout of the consolidation pattern and it is trading at all-time highs. It is trading above all the short and long-term moving averages. It is trading above its 20, 50 & 200-DMA and all of them are trending up. At the same time, there is the desired sequence.
On a WTD basis, the stock is up by nearly 16.5 per cent while on a YTD basis, it is up by nearly 127 per cent.
The company operates in two major business segments: Textiles and paper with its manufacturing facilities located in Punjab and Madhya Pradesh.