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market | IST

Momentumisers: Key factors behind Birlasoft's surge

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Birlasoft is on the radar. The stock was nearly 10 percent up on Tuesday, November 24, at a lifetime high and in fact, moved up as much as 19 percent in the last five days.

Birlasoft is in focus, considering it was nearly 10 percent up yesterday at a lifetime high and in fact, moved up as much as 19 percent in the last five days.
In the last five days, we have also seen a surge in volumes. In fact volumes on an average, we are looking at 2.8 times as compared to its one-month volume.
Similarly, its deliverable volumes are also at around 2.1 times. So there certainly has been a lot of increased interest in the stock of late.
In terms of the support for now, we are keeping an eye on the three-day low of around Rs 441. The 20-day moving average (DMA) is also at around Rs 438. It is a little away from its current market levels at Rs 500. Of course, the reason behind these gains is strong deal momentum as well as improved visibility in terms of earnings.
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