The Trident share price is constantly trading in fixed range after making a new 52w high. Nifty50, bank Nifty & Sensex are making lifetime highs and stocks that were long dormant are also showing great momentum. But Trident remains in the same range. Why.
Let’s see what are the problems with the stock and why the trident share price is not moving in bull range.
Why Trident’s share price is not rising.?
Trident hit its new 52wk high with huge demands in the stock. The government’s PLI scheme showed great enthusiasm among textile investors. The force and excitement translated into a trident making a new 52wkhigh.
Huge demand in the stock pushed the stock beyond the range meaning technicals broke. Now that stock entered into the stock overbought zone it needs some time to settle.
At this time when you are seeing the market moving higher & higher Your stock trident is in the settlement phase.
Trident gonna take time to come down a Lil ( below RSI 70) after it will show some movement.
What should You do With Trident stock.?
Hold Trident! The Government PLI Scheme for the Textile isn’t even implemented yet and you saw what it can do. Once the scheme comes to ground you won’t believe the returns Trident can give you in the Short & Long Term.
Trident is one of the few companies that are small yet consistently making good profits and Consistent growth.