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BUZZ-India's Avenue Supermarts hits record high; breaches 1,000 rupee level
August 24, 2017 / 7:14 AM / 3 months ago

BUZZ-India's Avenue Supermarts hits record high; breaches 1,000 rupee level

** Shares of Avenue Supermarts Ltd gain as much as 3 pct to a record high of 1,019 rupees, surpassing the 1,000 rupee level for the first time

** Stock has risen about 56.5 pct since its debut in March

** Moving average convergence divergence (MACD) cut above the signal line this week, which is bullish for stock

** Trend intensity indicator is rising, suggesting strength in uptrend

** Stock, which started declining from July-end, got support at its 50-day moving avg

** Increase of 30 pct in 5-day avg volume over 30-day avg volume for the stock indicates recent price rise is supported by volume

** Stock on track for a ninth straight session of gains

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