From Rs 42 to Rs 238 - This realty stock is running a MARATHON!
MARATHON has soared nearly 5% in Tuesday’s trading session.
The stock of Marathon Nextgen Realty Ltd is the talk of the town lately, having soared over 200% in one year and has attracted traders’ attention. From its previous year’s low of Rs 42 in April, the stock has jumped to Rs 232 (over 550% gain) in just 15 months. Moreover, it soared nearly 5% on Tuesday’s trading session. With such a strong short as well as a long-term uptrend, the stock is all guns blazing!
The stock has hit a fresh 52-week high level of Rs 238 level and has also recorded above-average volume. The volume was found to be greater than the 10-day and 30-day average volume. Interestingly, the 20-DMA level has acted as strong support for the stock in the past few weeks, as the stock has seen strong buying interest at every dip. The 14-period daily RSI (60.88) is in the bullish territory and shows strong strength in the stock. Interestingly, the MACD has signalled a bullish crossover. The OBV continues to remain elevated amid strong buying interest and a surge in volumes. The Elder Impulse has charted a bullish chart, while TSI and KST indicators maintain their bullish view. Currently, the stock is about 7% above its 20-DMA and about 85% above its 200-DMA.
With such a strong price structure, along with bullish technical apartments, the stock is expected to continue its upside path. The stock is also bullish for the medium term from the above points. Traders can consider taking positions in this stock at every dip and can expect good gains in the near term.
Marathon Nextgen Realty Limited is a real estate company, working in the construction, development, and sale of commercial as well as residential real estate projects. With a market capitalization of over Rs 1000 crore, it is one of the strong growing real estate companies.
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