Rail Vikas Nigam shares have given stellar returns in a four-day run-up, despite consolidation in broader markets. The stock surged 19 percent on April 25, taking four-day gains to over 40 percent. It has seen above-average volumes in last two sessions of the previous week and this week on both days, the volumes remained robust. It ended at record closing high of Rs 104.60.
After breaking long, downward sloping resistance trendline adjoining multiple swing highs from November 29 last year, RVNL maintained its uptrend with trading above all key moving averages (21, 50, 100 and 200-day EMA - exponential moving average).
