JK Lakshmi Cement hits record high, signals bullish bias

JK Lakshmi Cement

05/12/2022 09:39

** Shares of JK Lakshmi Cement Ltd.  JKLC.NS  rise 10.13% to
a record 824.35 rupees 
    ** Stock on course to extend winning streak for sixth
session in a row, if gains hold
    ** Over 2.93 mln shares change hands in Monday's session,
5.1X the 30-day average of 574,697 shares
    ** Share price above the 50-day exponential moving average
(621.28 rupees) and 200-day moving average (546.43 rupees),
suggesting bullish trend - Refinitiv
    ** Stock also trading above signal line of moving average
convergence divergence (MACD), a momentum indicator, suggesting
bullish bias - Refinitiv
    ** The relative strength index is at 85, suggesting the
stock may be overbought
    ** Sixteen of 17 analysts tracking co rate it "buy", one
suggests "hold"; median TP at 745 rupees - Refinitiv
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))