Railtel is the all-new favourite stock among traders; what are they expecting?

Railtel is the all-new favourite stock among traders; what are they expecting?

by 5paisa Research Team Last Updated: Dec 14, 2022 - 10:42 pm 11.4k Views
Listen icon

Railtel has registered a 28-week cup pattern breakout with massive volumes this week.

Railtel has been on traders’ watchlist for some time now, as they watch it soar over 6% in the past 2 weeks. The fresh interest has led to a strong breakout from its 28-week-long cup pattern with massive volume. Such a breakout is deemed very positive over the medium term as the outlook for the stock remains positive among the investors.

Railtel is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fibre network on exclusive “Right-of-Way” along railway tracks. Being a prominent leader in its sector, the company enjoys strong demand for internet networks and services in rural as well as in urban India. The fundamentals of the company have grown in the past consecutive years, which indicates its strong presence in the market. Domestic institutions have been steadily increasing their holdings over the past few quarters.

Technically, the stock has witnessed good buying interest post the breakout. The 14-period daily RSI (69.50) shows strong strength in the stock and is in bullish territory. The ADX (30.95) is pointing northwards which indicates strong trend strength. The OBV Is rising and depicts massive buying interest from the market participants. The +DMI is well above the -DMI.

Interestingly, the elder impulse system indicates a fresh buy. Meanwhile, the stock also trades above all its key short-term and long-term moving averages. On Thursday, the stock surged over 3% and currently trades above its prior swing high level. In a nutshell, with growing fundamentals and bullish price pattern and technical indicators, the stock is expected to perform well on the exchanges in times to come. 

In the past three months, the stock has seen strong buying as it jumped over 22%, thus outperforming the broader market and most of its peers. Currently, the RAILTEL share price trades at Rs 123 level on NSE. Long-term investors as well as momentum traders should keep an eye on this stock to track its development! 

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

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.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Trust Fintech IPO Subscribed 108.63 times

Trust Fintech IPO is book-built issue of ₹63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh. Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Aspire & Innovative IPO Subscribed 15.17 times

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024.

Blue Pebble IPO Subscribed 56.32 times

Blue Pebble IPO, valued at ₹18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024.