Grasim Industries dips 0.2 per cent, railing 68.3 per cent of stocks

Grasim Industries dips 0.2 per cent, railing 68.3 per cent of stocks
Published: 06 June 2008

Grasim Industries dipped INR5.05 (or 0.2 per cent) to INR2234.95, ending a two-day streak of rises. In the NSE market of 2157 stocks, the stock has a six-month relative strength of 32 which means it has underperformed 68 per cent of the market. Compared with the Nifty Index which rose 16 points (or 0.3 per cent) on the day, this represented a relative price change of -0.6 per cent.

Volatility: The stock traded between an intraday low of INR2215 and five-day high of INR2269.

Moving Average Price (MAP): The price to 200-day MAP ratio is 0.73, a bearish indicator. In the past 200 days this ratio has been under 0.73 11 times suggesting further downside. The stock is trading below both its MAPs and the 50-day MAP of INR2437.88 is lower than the 200-day MAP of INR3080.38, a bearish indicator. The 200-day MAP has decreased to INR3080.38. A decrease is another bearish indicator. In the last three months the number of falls outnumbered rises 33:27 or 1.22:1.

Volume and turnover period: There were 10,591 shares worth INR2.4 crores (US$551,830) traded. The volume was 0.2 times average trading of 130,250 shares.