Sindhu Trade Links share price jumped over 9% on Monday, snapping its three-day losing run, led by heavy buying momentum. The small-cap stock rallied as much as 9.8% to ₹24.85 apiece on the NSE.
The gains in Sindhu Trade Links share price was supported by heavy volumes. Around 58 lakh equity shares of Sindhu Trade Links changed hands on November 24, significantly higher than its one week average trading volumes of 4 lakh shares, and one month average trading volumes of 10 lakh equity shares.
Sindhu Trade Links shares have fallen in seven out of the past eight consecutive trading sessions. The stock rallied on Monday amid gains in the broader Indian stock market today.
Technical Outlook
Sindhu Trade Links share price has bounced back from its oversold territory and is holding above the key support zone.
“Sindhu Trade Links shares are backed with strong volumes and are holding on to key support of 200SMA. On the indicator front, RSI has given a fresh buy signal in the oversold zone and the positive momentum could extend in the near term,” said Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One.
According to him, immediate resistance for the stock is seen around ₹26 level, whereas, a key support lies at ₹22.
Sindhu Trade Links Share Price Performance
Sindhu Trade Links share price has fallen 2% in one month and has gained 8% in six months. The smallcap stock has risen 7% on a year-to-date (YTD) basis, while it has gained 4% in one year.
Sindhu Trade Links shares have fallen 17% in two years, while they have delivered multibagger returns of 1,345% over the past five years.
At 3:15 PM, Sindhu Trade Links share price was trading 6.07% higher at ₹25.15 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
