Wockhardt hit an upper circuit 20% at Rs 393.20, extending its winning run to fifth consecutive trading session.
The counter has surged 34.7% in five trading sessions from its previous closing low of Rs 291.75 posted on 13 November 2020. The stock is 4.68% away from its 52-week high of Rs 411.6 hit on 11 February 2020. Shares are up 167% from their 52-week low of Rs 147.2 posted on 24 March 2020.In last three months, the stock has moved 25% higher outperforming the BSE Small cap index which gained 11.54% in the same period. While, the Nifty Pharma has declined 0.5% in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 87.837. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 298.93 and 294.92 respectively. These levels will act as crucial support zones in near term.
Wockhardt is a global pharmaceutical and biotechnology organization, providing affordable, high-quality medicines.
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