Avenue Supermarts rose 1.46% to Rs 2,677, extending gains for the second consecutive session.
Shares of Avenue Supermarts gained 5.05% in two trading sessions from a recent closing low of Rs 2,548.20 hit on 17 December 2020.
On the technical front, the stock's RSI (relative strength index) stood at 64.029. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 2,341.09 and its 200-day moving average (DMA) placed at 2,244.28.
Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof. As of 30 September 2020, the company had 220 stores with Retail Business Area of 8.20 million sq. ft. across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.
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