Chettinad Cement Corp strengthens 0.2 per cent, beating 87 per cent of stocks

Chettinad Cement Corp strengthens 0.2 per cent, beating 87 per cent of stocks
03 June 2008


Chettinad Cement Corp strengthened Re1.0 (or 0.2 per cent) to INR486. In the BSE market of 4901 stocks, the stock has a six-month relative strength of 87 which means it is beating 87 per cent of the market. A price rise combined with a high relative strength is a bullish signal. The stock rose for a second day on Monday. Compared with the BSE Sensex Index which fell 352.4 points (or 2.2 per cent) on the day, this represented a relative price change of 2.4 per cent.

Volatility: The stock traded between an intraday high of INR486.0 and a two-day low of INR480.10. The price range has expanded in the last two days (from INR5.0 two days ago to INR5.90 today) which, accompanied by a price rise, is a bullish signal.

Moving Average Price (MAP): The price to 200-day MAP ratio is 1.08, a bullish indicator. In the past 200 days this ratio has exceeded 1.08 17 times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of INR475.04 is higher than the 200-day MAP of INR451.88, a bullish indicator. The 200-day MAP has increased to INR451.88. An increase is another bullish indicator.

Volume and Turnover Period: There were 4970 shares worth INR24 lakhs (US$57,178) traded. The volume was 1.5 times average trading of 3350 shares.
Published under Cement News