Here’S Why United Spirits Is Surging

United Spirits was in high spirits yesterday, September 23, up 7 percent for the week. It has seen gains of around 12 percent and yesterday’s volumes were 4.6 times the average volumes that the stock trades at and around 30.81 lakh shares were marked for delivery yesterday. Therefore, if we compare it with the average of the last three months in terms of delivery quantity, it was 4.3 times the average quantity.

At current levels, it is comfortably above the 20-50-100 and 200-day moving average (DMA) in terms of levels to watch out for.

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In terms of Futures & Options (F&O) action, there was an open interest increase of 3.5 percent yesterday, there were fresh longs added on this stock. So, a lot of momentum in this particular counter.

Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details

(Edited by : Dipika Ghosh)

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