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
Published: 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.