India's Usha Martin hits record high on bulk deal; remains overbought

Usha Martin

13/06/2023 06:35

** Shares of Usha Martin  USBL.NS  rise as much as 5.07% to
a record high of 285 rupees
    ** Motilal Oswal Mutual Fund (MOSTF30) bought 1.85 mln
shares at 270.12 rupees apiece, bulk deal data on NSE shows
    ** Stock's relative strength index above 70 since June 7,
indicating that the stock is overbought
    ** USBL's MACD line has been above the signal line since
June 6, indicating bullish momentum
    ** Trading volume is ~633,000 shares as of 10:55 a.m. IST,
0.6x the 30-day avg - Refinitiv data  

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))