Trident Share Price Live Updates :
Live updates on the price of Trident shares today: Trident shares rise as the market exhibits positive momentum today.
Update on Opening and Closing:
Trident opened at ₹34.96 on the most recent trading day, but it ended the day lower at ₹34.43. The stock fluctuated between a high of ₹39.26 and a low of ₹34.42 during the day. Trident’s performance is noteworthy in comparison to its 52-week high of ₹52.85 and 52-week low of ₹31.06, given its market value of ₹19,117.21 crore. 9,583,267 shares were traded on the Bombay Stock Exchange (BSE), which was a noteworthy trading volume.
Live Updates on Trident’s Peer Performance:
Trident’s share price rose 3.79% today to ₹39.45, although its rivals’ performances were less clear. While KPR Mill, Arvind, and LS Industries witnessed increases, Garware Technical Fibres saw a decrease. The Nifty and Sensex benchmark indices had overall increases of 0.05% and 0.14%, respectively.
Trading Insights:
Trident is up 4.37% from yesterday’s closing price of ₹38.01 to trade at ₹39.67 today. On a daily basis, it is still inside a crucial support and resistance area of ₹35.06 and ₹39.92, respectively. There will likely be more adverse movement if the price falls below ₹35.06. On the other hand, bullish momentum can result from a breakout over ₹39.92.
Price Analysis:
Trident’s share price is currently trading at ₹39.38, up 3.60%. The stock has increased in value by 3.66% over the last 12 months, to ₹39.38 today. The Nifty index, on the other hand, increased 17.25% over the same time frame to reach 24,619.00.
Causes of the Current Trident Share Price Change :
Trident’s optimistic outlook now is influenced by a number of factors:
1. Positive Technical Indicators: According to recent technical analysis, there are optimistic signals, such as a moving average crossover pointing in the direction of rising momentum and a stochastic crossing indicating oversold circumstances.
2. Market Sentiment: Thanks to rising demand and encouraging industry news, the overall market has been supportive of textile equities.
3. Analyst Suggestions: Using both technical and fundamental analysis, analysts have made compelling buy recommendations, establishing target prices between â‚ą40 and â‚ą42.
Trident Share Price Fundamental Analysis :
Fundamentally speaking, Trident Ltd. has produced a range of outcomes:
Market Capitalization:
Trident now has a market capitalization of about â‚ą17,560 crores.
Financial Ratios:
The firm appears to be overvalued when compared to its industry peers, as evidenced by its remarkably high P/E ratio of 54.54.
Sales Performance:
According to recent statistics, Trident’s standalone net sales for September 2024 were ₹1,709.17 crore, which represents a 2.95% decrease from the previous year.
Trident Share Price Technical Analysis Insights :
The results of the technical analysis show:
Bullish Signals: An average price increase of roughly 5% during the following week is typically predicted by a 5-day exponential moving average (EMA) crossover, which has taken place.
Resistance Levels: â‚ą45.58 is the higher circuit limit and â‚ą30.39 is the lower circuit limit.
Conclusion :
Investors should keep an eye on impending earnings releases and market conditions that could affect future performance, as Trident Ltd.’s share price continues to exhibit resilience in the face of market swings. Trident offers a compelling potential for both short-term traders and long-term investors due to its combination of strong technical indications and analyst confidence.
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