On technical charts, the 200-DMA of the stock stood at Rs 2,753.98, while the 50-DMA was at Rs 3,035.32. If a stock is trading above 50-DMA and 200-DMA, it generally means that the immediate trend is up. On the other hand, if the stock is trading below 50-DMA and 200-DMA, it is considered a downtrend and if it trades between these averages, then it suggests that the stock can go in either direction.
The stock is trading below the Momentum Indicator Moving Average Convergence Divergence signal line, or MACD, indicating a bearish bias at the counter. The MACD is known for signaling the change in trend in traded securities or indices. It is the difference between the exponential moving averages of 26 and 12 days. A nine-day exponential moving average, called the signal line, is drawn at the top of the MACD to reflect "buy" or "sell" opportunities.
On the other hand, the stock's relative strength index (RSI) stands at 56.16. Traditionally, a stock is considered overbought when the RSI value is above 70 and oversold when it is below 30.
The return on equity (RoE) of the shares stood at 21.44 percent, while the return on capital employed (RoCE) was 14.92. RoCE is a financial index that determines the profitability of a company and the efficiency of the use of capital, while the RoE is a measure of the profitability of a company relative to capital.
