Multibagger Coffee Day zooms over 16% with strong volumes!

Multibagger Coffee Day zooms over 16% with strong volumes!

Indian Market
by 5paisa Research Team Last Updated: 2022-09-13T12:12:23+05:30

“A coffee a day keeps the grumpy away” is a jocular one-line coffee saying-similar to “An apple a day keeps the doctor away”.

As per the saying a coffee a day keeps the grumpy away may or may not be certain, but when it comes to returns certainly Coffee Day Enterprises on Tuesday will not keep handsome returns away from its shareholders. That’s because, the stock has soared more than 16% and it is trading near day’s high. With this strong move the stock has touched levels which were last seen in Mid-February 2022.

The stock has formed one of the most bullish candles since August 10, 2022 along with strong volumes. Volume so far for the day is more than five times of the 50-days average volume of 0.34 crore share per day highlighting larger participation in the direction of trend. Considering that the stock is trading nearly to its 7-month high, it is trading above its all-key moving averages like 20, 50, 100 and 200-DMA. 

The daily 14 periods RSI is seen rebounding after forming a base at the nine periods average has thus supports the positive bias. Furthermore, the RSI has marked a fresh 14-period, which is positive for the stock. The daily MACD is pointing northward while sustaining above its nine periods average thus validates positive bias in the stock. The stock is clearly uptrend and the trend strength is extremely high. The Average Directional Index (ADX), which shows trend strength, is as high as 42.09 on a daily chart. Generally, above 25 levels is considered as a strong trend. Also, +DMI is at 37.75 and it is in rising ascending trajectory, which adds signifies strong bullish trend in the stock.

The stock is up by over 136% in the last one year, while on a YTD basis the stock has advanced over 53%.


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The

Open Free Demat Account

& get benefits worth 2100*

Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number