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Trident Ltd Share Price Soars 12.15%: Targets ₹38-₹40 - Read Now 

Trident Ltd saw a 12.15% surge, trading near ₹35.30 with a target of ₹38-₹40. Boosted by textile sector growth, strategic plans, and strong technicals like RSI and moving averages, this mid-cap stock shows promise. Analysts anticipate continued bullish momentum.

By Aayushi Dubey Dec 9, 2024, 13:42 IST

In an electrifying trading session, Trident Ltd’s stock shot up by 12.15%, opening at ₹34.48 and hitting an impressive high of ₹39.27. As of now, it’s trading around ₹35.30, leaving analysts and investors buzzing about what’s next for this textile giant.

Bullish Targets: ₹38–₹40 on the Horizon?

With a near-term price target of ₹38 to ₹40, analysts are eyeing more upside for Trident. Technical indicators like moving averages and RSI point to sustained bullish momentum.

Why Trident is Shining Bright

  1. Market Vibes
    The textile sector’s roaring recovery has positioned Trident as a top pick. Investors are chasing mid-cap gems, and Trident fits the bill perfectly.

  2. Strategic Moves
    From expansion plans to forward-thinking initiatives, Trident’s recent announcements have captured the market’s imagination.

  3. Technicals That Tell a Story

  • Moving Averages: Crossing above the 5-day moving average has added fuel to the rally.
  • RSI at 59.56: There’s still room to run before overbought territory kicks in.
  • Support and Resistance: Strong support at ₹34.98 and a resistance ceiling at ₹36.50 give the stock a solid foundation.

The Bigger Picture: Fundamentals & Beyond

  • Volume Surge: Over 7.4 million shares exchanged hands today—an undeniable signal of rising interest.
  • P/E Ratio: A lofty 54.3 reflects big growth expectations.
  • Market Cap: Valued at ₹17,494 crore, Trident has the firepower to keep climbing.

What’s Next?

Analysts and investors are optimistic about Trident’s trajectory. With technical strength and strategic initiatives aligned, this mid-cap textile leader might just be the dark horse of the sector.

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