Infosys, Adani Enterprises, Cochin Shipyard, IFCI and UCO Bank are technically trading in the oversold zone, as per the RSI indicator; charts hint up to 23% downside risk for these 5 stocks.
The rally was led by MMTC, which jumped 14.58 per cent to ₹79.52 amid heavy volumes, followed by IFCI climbing 6.15 per cent to ₹74.50 and Sigachi Industries gaining 5.63 per cent to ₹53.21.
IFCI share price has appreciated by 90% in the last 3 weeks; technical chart suggests that bias for IFCI stock is likely to remain upbeat as long as it trades above ₹68.50 and ₹63.10 support levels.
IFCI stock hit five-month high as it jumped 11 per cent to ₹68 on the BSE on back of two-fold rise in average trading volumes on Wednesday. IFCI has seen a good surge in the last few trading sessions.
Shares of Reliance Infrastructure rallied 10% to ₹ 313 on media reports of Reliance Defence ties up with Rheinmetall to supply ammunition, explosives