India's Balaji Amines hits near 19-month low

Balaji Amines

05/01/2023 09:17

** Balaji Amines  BAMN.NS  falls for 4th session in a row,
taking stock to 2527.55 rupees, the lowest since June 21, 2021
    ** The specialty chemicals maker's stock is trading below
its 50-, 100- and 200-day moving averages since Oct. 10
    ** Stock's moving average convergence divergence (MACD) line
has been below the signal line since Dec. 22, indicating bearish
bias
    ** Relative strength index for BAMN is 24.5, suggesting the
stock is oversold 
    ** About 58,700 shares change hands by 2:35 p.m. IST, 1.5x
30-day avg of 38,433 shares
    ** Stock last year saw first annual drop in three, falling
20.6%
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))