Dhani Services shares zoom 14%; key technical levels to watch out for
Dhani Services share price: The stock surged 13.97 per cent in Tuesday's trade to scale a day high level of Rs 47.71. The stock has gained more than 30 per cent in the past one month.
- Apr 16, 2024,
- Updated Apr 16, 2024 12:30 PM IST
Shares of Dhani Services Ltd surged 13.97 per cent in Tuesday's trade to scale a day high level of Rs 47.71. The stock has gained more than 30 per cent in the past one month. It saw heavy trading volume on BSE today as around 20.24 lakh shares were seen changing hands on BSE today. The figure was higher than the two-week average volume of 6.61 lakh shares. Turnover on the counter came at Rs 9.25 crore, commanding a market capitalisation (m-cap) of Rs 2,824.94 crore.
Technical analysts largely suggested that the stock looked strong on charts. Support on the counter will be at Rs 43. And, immediate resistance may be found at Rs 50.
Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "Dhani's stock has witnessed a consolidation breakout, backed by robust volumes. It now heads for the weekly resistance zone of Rs 47-49 and a decisive breach could trigger the next leg of rally towards Rs 56 level on an immediate basis. On the lower end, the Rs 43-42 range should now be seen as support."
Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, said, "The stock looked strong on daily charts and can rise further to hit Rs 50 level in the near term. Keep a strict stop loss placed at Rs 43."
AR Ramachandran from Tips2trades said, "Dhani Services stock price is bullish on daily charts with strong support at Rs 41. A daily close above resistance of Rs 48 could lead it to an upward target of Rs 55 in the near term."
Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, said, "Support will be at Rs 45 and resistance at Rs 48. A decisive close above Rs 48 level may trigger a further upside till Rs 52. The expected trading range will be between Rs 40 and Rs 55 for a month."
The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 45.20. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a price-to-equity (P/E) ratio of 23.95. Earnings per share (EPS) stood at 0.27.
As of December 2023, promoters held a 31.25 per cent stake in the company.
Shares of Dhani Services Ltd surged 13.97 per cent in Tuesday's trade to scale a day high level of Rs 47.71. The stock has gained more than 30 per cent in the past one month. It saw heavy trading volume on BSE today as around 20.24 lakh shares were seen changing hands on BSE today. The figure was higher than the two-week average volume of 6.61 lakh shares. Turnover on the counter came at Rs 9.25 crore, commanding a market capitalisation (m-cap) of Rs 2,824.94 crore.
Technical analysts largely suggested that the stock looked strong on charts. Support on the counter will be at Rs 43. And, immediate resistance may be found at Rs 50.
Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "Dhani's stock has witnessed a consolidation breakout, backed by robust volumes. It now heads for the weekly resistance zone of Rs 47-49 and a decisive breach could trigger the next leg of rally towards Rs 56 level on an immediate basis. On the lower end, the Rs 43-42 range should now be seen as support."
Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, said, "The stock looked strong on daily charts and can rise further to hit Rs 50 level in the near term. Keep a strict stop loss placed at Rs 43."
AR Ramachandran from Tips2trades said, "Dhani Services stock price is bullish on daily charts with strong support at Rs 41. A daily close above resistance of Rs 48 could lead it to an upward target of Rs 55 in the near term."
Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, said, "Support will be at Rs 45 and resistance at Rs 48. A decisive close above Rs 48 level may trigger a further upside till Rs 52. The expected trading range will be between Rs 40 and Rs 55 for a month."
The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 45.20. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a price-to-equity (P/E) ratio of 23.95. Earnings per share (EPS) stood at 0.27.
As of December 2023, promoters held a 31.25 per cent stake in the company.