September 4, 2023
RVNL (Rail Vikas Nigam Limited) shares have been on a remarkable journey, bouncing back by a staggering 324% from their 52-week low of Rs 32.60 recorded on September 2, 2022. With this remarkable recovery, investors are now eyeing a target of Rs 180 for the stock.
The stock's performance is even more impressive when viewed over a three-year horizon, where it has surged by an astonishing 553.66%.
Technical Insights
From a technical perspective, RVNL is currently trading with an RSI (Relative Strength Index) of 73.1, indicating that it's neither overbought nor oversold. The stock has demonstrated an average level of volatility with a one-year beta of 1. Additionally, RVNL's stock price is above the 5-day, 10-day, 20-day, 50-day, 100-day, and 200-day moving averages, signaling strong upward momentum.
Analyst Opinions
Analysts are optimistic about RVNL's future. Here're some experts opinions and sayings:
Vaishali Parekh, VP, Technical Research, Prabhudas Lilladher: "The stock has gradually picked up from the Rs 120-123 zone, improving the bias and has a near-term target of Rs 147 with strong support maintained near Rs 119- Rs 120. The RSI is also well placed, indicating upside potential."
Abhijeet of Tips2trades: "RVNL stock price is slightly bullish with strong resistance at Rs 132. A daily close above Rs 132 could lead to a target of Rs 144 in the near term."
Aditya Gaggar, Director, Progressive Shares: "RVNL is forming an Ascending Triangle Formation, with a breakout point at Rs 144. A strong close above this level could set a target of Rs 179."
Gaurav Bissa, Vice President, InCred Equities: "RVNL has witnessed a multi-year breakout and, after a consolidation phase, is gaining momentum. The stock can test Rs 170-175 levels in the long run."
RVNL is a vital executing arm of the Indian Railways, handling projects assigned for execution. It manages the complete project cycle, from conceptualization to commissioning, including design, contract management, and project execution.
Disclaimer: This article is for informational purposes only. The recommendations and views expressed by experts are their own and do not represent the views of YouBlog.live. Please consult your financial advisor or an independent stock market expert before making investment decisions. YouBlog.live is not responsible for any trading or investment losses incurred.