Know why Linde India is buzzing!

Linde India advanced 1.66 per cent during Wednesday’s trading session. Moreover, it made a fresh all-time high of Rs 3,435 level as of March 21, 2022.

The stock of Linde India advanced 1.66 per cent during Wednesday’s trading session. Moreover, it made a fresh all-time high of Rs 3,435 level as of March 21, 2022. In addition, the stock has surged over 5.5 per cent in the current week. 

Linde India is a leading supplier of gases and related products & services in India. In price comparison with peers, the stock performed very well in the past one year. 

The stock has witnessed a seven-month-long ascending triangle pattern breakout on the weekly chart. Furthermore, the breakout was witnessed with a sizeable bullish candle on the third week of March 2022. 

The technical parameters are also in line with the stock’s bullish price structure, confirming a bullish direction. The 14-period RSI, which is above 72 on the daily chart, shows a bullish momentum. The MACD line is trading above its signal line and zero line, which indicates a positive trend in the stock. The stock is trading above its short-term as well as long-term moving averages. This setup is indicating a clear uptrend for the stock. 

Thus, the above technical evidence suggests that the stock should be on your watchlist!