Top buzzing stock: Sharda Cropchem Ltd

Buzzing stock

by 5paisa Research Team Last Updated: 2022-05-24T14:50:53+05:30

Shares of Sharda Cropchem Limited are bullish and have surged over 5% on Tuesday’s trading session. With this, it has recorded a fresh 52-week high of Rs 766.90.  

Sharda Cropchem Limited witnessed strong buying interest at a lower level of Rs 560 and jumped over 35%. Moreover, it recorded a huge volume during this process. Today, the volume was found to be greater than the 10-day, 30-day and 50-day average volume. Thus, the stock is being strongly bought.  

As per the technical indicators, SHARDACROP possesses extreme bullishness. The 14-period daily RSI (65.84) has jumped above its prior swing high and indicates strong strength. The MACD histogram is rising steadily and indicates good momentum. The On Balance Volume (OBV) is at its peak, demonstrating strong strength as per the volumes. The other momentum oscillators like TSI and KST shows extreme bullishness. The stock is about 14% above its 20-DMA and about 70% above its 200-DMA. Moreover, all moving averages indicate bullishness in the stock.  

The company has performed exceptionally well this year. It rose about 110% on a year-to-date basis, and about 10% in just one month. The bad market sentiment is not affecting the stock’s bull run as seen from the above figures. The company has ambitious business strategies which is an added benefit to the stock. With its price structure showing no sign of bearishness, the stock is expected to trade higher in the coming days. It presents a good opportunity for swing trading and they can expect good gains from this stock in the near future.  

Sharda Cropchem Limited is a crop protection chemical company engaged in the marketing and distribution of a range of formulations for crop chemicals. It is a midcap company with a market capitalisation of about Rs 6600 crore. It is one of the strong, growing companies in its sector.  

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