Gujarat Ambuja Exports formed bullish candlestick pattern with long upper shadow on the daily charts. The trading volume was robust, while there was a decisive breakout of long falling resistance trendline, with stock trading above all key moving averages.
Given the technical indicators and market sentiment, Vidnyan Sawant of GEPL Capital anticipates the Nifty to oscillate within the 19,605 to 19,878 range in the coming sessions.
Gujarat Ambuja Exports, incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 6138.16 Crore) operating in Agro Processing sector.
India VIX was down by 1.41% from 12.39 to 12.22 levels on Tuesday. Volatility moved in its previous days range and resulted in a lackluster move in the indices.