Vindhya Telelink, a telecom equipment maker, has seen a lot of traction of late; in fact, it is up 16 percent in the last five days.
On Tuesday, July 6, it closed at a life-high and saw a lot of volume buildup moving in.
As far as volumes are concerned, the 5-day average volumes are at nearly two times compared to the one-month volume and similarly deliverable volumes have also doubled of what we have seen in the last one-month.
In the near-term, as far as support is concerned, that’s around Rs 1,256, which is a 5-day low and similarly, further, it will be Rs 1,215, which is a 20-day moving average (DMA).
The reason why a sharp upmove is seen is because of an improvement in its earnings in the last quarter as well as expectations of improvement, going ahead.
Watch the accompanying video of CNBC-TV18’s Agam Vakil for more details