Momentum pick: This stock gave 64% return last year, price increased by 15% in just 1 month

New Delhi
Rashtriya Chemicals and Fertilizers (RCF) stock looks bullish as it rises for the seventh consecutive trading session. Moreover, it has recorded above-average volumes during this period, which indicates a large participation in the stock. It has climbed around 5% on Tuesday and is trading near the crucial resistance zone of Rs 88-90. Simultaneously, the RSI has entered Super Bullish territory and the trend indicator ADX is moving above 30, highlighting a strong uptrend for the stock.

Besides, the stock is trading above all the major short-term and long-term moving averages. The distance between its 20-day short-term moving average and the stock’s price is over 12%, reflecting the stock’s higher momentum for the short term.

unmatched stock quality
The stock has delivered nearly 64% returns to its shareholders over the past year and outperformed the broader market and its peers. Also in a short span of one month, the stock has registered an increase of 15% in its share price. Thus, the quality of the stock is unmatched. With strong price action and heavy volumes, technical signals show no signs of stopping the stock and the stock is expected to rise higher. It is still trading around 12% lower from its 52-week high. However, given the ongoing uptrend, it would not be surprising if the stock touches its 52-week high soon.

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