The stock price of the Central Bank of India has gained more than six percent. Know why?
Public sector banks have performed better in the recent past in the stock market. Which is a good sign for the economy.
Central Bank of India was among the top trending stocks in its category in the trading session on Friday.
Central Bank of India witnessed strong trading activity from Institutions. Which is a sign of further bullishness.
Let us tell you that technically this stock has given a breakout from its eight-week pattern with above-average volume.
Fresh buying interest is visible at a lower level in CBI. The stock is trading near its previous pivot and 52-week high.
All the moving averages of the Central Bank of India are bullish which is indicating bullishness in the short and long term.
Central Bank of India's 14-day period RSI (68.79) along with ADX (34.05) is rising, indicating strong bullish momentum.
The Know Sure Thing (KST) and true strength index (TSI) indicators for the Central Bank of India stock are also looking bullish.
Given the positive price pattern and bullish technical parameters, CBI stock is likely to gain momentum in days to come.
Central Bank Of India Share Price Today: Mkt cap: 20.40TCr P/E ratio: 15.28 52-week high: 24.50 52-week low: 16.25
Long-term investors and momentum traders can keep an eye on this Central Bank of India stock in the coming days.