Thirumalai Chemicals jumped 5.41% to Rs 199.7, snapping its three-day losing streak amid bargain hunting.
The stock declined 8.39% in the past three sessions to end at Rs 189.45 yesterday, from its recent closing high of Rs 206.75 recorded on 2 September 2021.In the past six months, the stock has surged a little over 93% while the benchmark Sensex has added over 15% in the same period. The stock has underperformed the market over the past one month, falling 1.5% compared with 7.11% jump in the Sensex.
On the technical front, the stock's RSI (relative strength index) stood at 55.392. 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, 100-day and 200-day daily simple moving average (SMA) placed at 181.58, 149.94 and 123.60 respectively.
Thirumalai Chemicals manufactures and sells organic chemicals in India. It ranks among the largest producers in the world of phthalic anhydride, malic acid, maleic anhydride and fumaric acid.
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