Elgi Equipments in focus, here’s why
Elgi Equipments is up as much as 20 percent in the last five days, and 35 percent in the last 15 days with good volumes backing it up.
In the last five days, the volumes were up 2.4 times its one month average. Similarly, its deliverable volumes are also up around 1.5 times.
For now, considering there has been a sharp upmove in the last five days, its support levels are a bit further off but the 3-day low is at around Rs 251 and its 20-day moving average (DMA) is around Rs 233.
Key trigger has been improved prospects in terms of earnings - that is something that did come across in its earnings conference call as well.
Watch the accompanying video of CNBC-TV18’s Agam Vakil for more details.
(Edited by : Dipikka Ghosh)