The stock rose more than 20 per cent in a week and over 40 per cent in the last 3 months. The stock is trading around overbought levels. Hence, some consolidation cannot be ruled out. The relative strength index (RSI) is at 84. RSI above 80 is considered strongly overbought. This implies that stock may show pullback, Trendlyne data showed. MACD is above its center and signal line, this is a bullish indicator.
Why are metal stocks rallying: Explained!
Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one