Cyient jumps 6.8% on volume near 52-week high

Cyient Limited shares rose 6.83% to Rs 1,158.80 on higher volume near their 52-week high. Resistance is at Rs 1,222 and support is at Rs 1,030. Cyient Limited [

] shares rose 6.83% to Rs 1,158.80 on the daily chart, with higher volume than recent sessions. The stock is now trading below its Rs 1,222 resistance, which is also its 52-week high. The session opened at Rs 1,086.50, which was also its low, and touched a high of Rs 1,182.00. A rise in volume with the price move shows stronger participation in the rally. Last month, the stock tried to break above Rs 1,222 but failed and then corrected to Rs 1,030. That makes Rs 1,222 a level where the price was rejected once before. The RSI reads 63.47, above its average of 58.81, which shows firm momentum without an overbought reading. One strong session does not show a trend change, and the stock can fall back from resistance again. A move above Rs 1,222 would bring a new momentum phase into focus. A fall below Rs 1,030, the support, would put lower levels in view. Neutral stance while price trades between Rs 1,030 and Rs 1,222. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.