The shares of Adani Enterprises Ltd. slipped 0.87% to Rs 1,434.75 in Wednesday’s trading. It hit a high of Rs 1457.0 and a low of Rs 1407.2 during the session.

On technical charts, the stock’s 200-DMA stood at Rs 934.33, while the 50-DMA was at Rs 1,474.05. If a stock is trading above 50-DMA and 200-DMA, it usually means that the immediate trend is up. On the other hand, if the stock is trading below 50-DMA and 200-DMA, it is considered a downtrend and if it is trading between these averages, it suggests that the stock can go in both. meaning.

The stock traded above the momentum indicator’s moving average convergence divergence signal line, or MACD, signaling a bullish bias on the counter. The MACD is known to signal a trend reversal in the securities or indices being traded. This is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called a signal line, is plotted above the MACD to reflect opportunities to “buy” or “sell”.

On the other hand, the Relative Strength Index (RSI) of the stock stands at 49.58. Traditionally, a stock is considered overbought when the RSI value is above 70 and oversold when it is below 30.

The stock’s return on equity (RoE) was 5.37% while the return on capital employed (RoCE) was 6.05. RoCE is a financial ratio that determines a company’s profitability and efficiency in the use of capital, while RoE is a measure of a company’s profitability in relation to equity.


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