Adani Gas continues significant uptrend
Adani Gas Limited (NSE:ADANIGAS), India's 2nd largest Integrated oil & gas company by market cap, has increased Rs0.50 (0.3%) from its previous trading session to close at Rs174.65. Compared with the BSE SENSEX Index which rose 12.8 points (0.03%) in the day, the relative price increase was 0.3%. There were 2,626,744 shares worth Rs460.6 million (US$6.5 million) traded today. The rise has been propped up by high volume of 2.2 times the average daily volume of 1.2 million shares.
Technical indicators complementing today's significant uptrend:
+ The positive 5.22 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal.
+ The 5.9% discount to 12-month high of Rs185.60 against the 108.2% premium to 12-month low of Rs83.87 suggests the stock continues to push for new highs.
+ In the Indian market, the stock's relative price strength percentile is improving at 54 for 6 months, 64 for 3 months and 69 for 1 month.
+ In the last one month the stock has hit a new 52-week high nine times and in the last three months once.
+ The price jumped 6.3% in the last week and soared 15.9% in the last month.