Shares of Nucleus Software Exports hit an all-time high of Rs 765.35 after rallying 9 per cent on the BSE in intra-day deal on Friday in an otherwise range-bound market on the back of heavy volumes. The stock surpassed its previous high of Rs 754, touched on October 7, 2020. The trading volumes on the counter jumped nearly three-fold with a combined 933,000 shares changing hands on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.07 per cent at 52,284 points, at 10:04 am.
The stock of the IT software products company has surged 30 per cent in the past four trading days after the company announced that FinnOne Neo will power the consumer finance business of Tien Phong Commercial Joint Stock Bank (TPBank), one of the leading banks in Vietnam. TPFico will offer instant digital loans anytime, anywhere, powered by the advanced digital lending platform FinnOne Neo.
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Nucleus Software Exports (₹631.5): Buy
Yoganand D
BL Research Bureau |
Updated on
July 01, 2021
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The stock of Nucleus Software Exports gained 3.8 per cent accompanied with extraordinary volume on Wednesday and has breached a key short-term resistance at ₹618 levels. This rally has strengthened the medium-term uptrend that has been in place from the March 2021 low of ₹476 levels. Investors with a medium-term horizon can buy the stock at current levels.
Short-term trend is also up for the stock. It recently surpassed the 21- and 50-day moving averages and trades well above them. Over last two trading sessions, the stock has advanced 6 per cent with increase in volume. The daily relative strength index has entered the bullish zone from the neutral region and the weekly RSI features in the bullish zone backing the uptrend. Further, the daily as well as the weekly price rate of change indicators are hovering in the positive terrain indicating buying interest.
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Read more about Nilkamal Ltd leads losers in A group on Business Standard. VST Tillers Tractors Ltd, SIS Ltd, Nucleus Software Exports Ltd and Asahi India Glass Ltd are among the other losers in the BSE s A group today, 04 June 2021.