Shivalik Rasayan shows improving price volume trend; up by 8 per cent in June itself

Shivalik Rasayan is a multibagger chemical sector stocks that has caught investors’ attention due to its massive expansion plans and futuristic product launches in the pharma sector. Shivalik Rasayan’s subsidiary Medicamen Biotech is also expected to do well in terms of earnings growth.

The stock is up by more than 149 per cent in one year and is up by nearly 62 per cent on YTD basis. At current prices the stock is trading above its 20 DMA and 50 DMA thus indicating bullishness in the near term. On Wednesday trading session Shivalik Rasayan gave a nice breakout with heavy volume. The stock is showing improving price volume trend.

The stock has been consolidating after it hit its 52-week of Rs 853.95 per share in March.

Analysis of volume is extremely important to understand if the stock prices rise has broken out from key resistance with maximum participation. Higher the volumes with rising prices , better the reliability on the price action.