1 hr ago
Netweb Technologies Shares Rise Amid Market Rebound and Mixed Outlook
Netweb Technologies shares went up during Monday’s trading.
More shares than usual were traded, and India’s main stock indexes also rose.
The stock has gained a lot over three years, but it has fallen over the past month.
One analyst said its short-term trend still looks weak and advised against buying right now.
Another analyst saw signs that the share price may be starting to recover.
Both analysts pointed to important price levels that traders may watch.
A move above ₹4,800 could make the recovery look more convincing.
A fall below key support levels could mean more weakness.
Netweb Technologies shares rose as much as 3.70% in Monday’s intraday session, reaching ₹4,697.
About 5.77 lakh shares traded, while Indian markets also advanced, with the Sensex up 0.63% and Nifty up 0.54%.
The stock gained 50.13% year to date and 459.69% over three years, but fell 11.07% over the past month.
Virat Jagad said short-term weakness and subdued momentum make fresh buying inadvisable at current levels.
Gaurav Garg described early signs of recovery, while saying a breakout above ₹4,800 would help confirm a stronger move.
- Who
- Netweb Technologies and analysts Virat Jagad of Bonanza and Gaurav Garg of Lemonn.
- What
- Netweb Technologies shares rose intraday as analysts offered differing assessments of the stock’s near-term outlook.
- Where
- The National Stock Exchange of India (NSE).
- When
- Monday’s intraday trading session; the article does not specify a calendar date.
- Why
- The article links the rise to positive market sentiment and a surge in trading volume.
Cautious view
Recovery view
Near-term outlook
Cautious view
Virat Jagad said the short-term structure remains weak, with the share price below its 20-day and 50-day moving averages and RSI around 43. He said fresh buying is not recommended at current levels.
Recovery view
Gaurav Garg said the stock is showing early signs of a technical recovery, with buying interest around ₹4,450–₹4,500 and an attempt to form a base.
Confirmation and risk levels
Cautious view
Jagad said a sustained move above ₹4,770 alongside RSI moving above 50 could signal renewed bullish momentum; below ₹4,575, weakness could extend toward ₹4,145.
Recovery view
Garg said a sustained breakout above the trendline and ₹4,780–₹4,800 resistance could open a move toward ₹5,000–₹5,200. He identified ₹4,450 as key support and said a decisive break below it would undermine the bullish setup.
Key facts
- Intraday rise
- As much as 3.70%
- Intraday high
- ₹4,697
- Trading volume
- About 5.77 lakh shares
- Year-to-date return
- 50.13%
- Three-year return
- 459.69%
- Jagad’s key levels
- ₹4,770 for a potential bullish signal; ₹4,575 as a downside threshold
- Garg’s key levels
- ₹4,800 resistance and ₹4,450 support
Quotes
Virat Jagad
Senior Technical Research Analyst at Bonanza
“A sustained breakout above the trendline, followed by a move above the ₹4,780–4,800 resistance zone, would indicate a clear change of character and could trigger an up move towards ₹5,000–5,200. On the downside, ₹4,450 remains the key support, and a decisive break below this level would invalidate the bullish setup and expose the stock to further downside. For now, the bias is cautiously positive, with investors better positioned to wait for a confirmed breakout above ₹4,800 rather than chase a-”
livemint.com
“A sustained move above ₹4,770, supported by RSI moving above 50, can signal renewed bullish momentum. Below ₹4,575, weakness may extend toward the ₹4,145 long-term support.”
livemint.com
Sources
Related news
Netweb Technologies Shares Fall 5% After Strong Multiyear Gains
Vaishali Parekh recommends three intraday stocks amid market selloff
Experts name six short-term stock picks amid volatile markets
Tejas Networks Gains as Axis Direct Sees Further Upside
Sumeet Bagadia Recommends Five Breakout Stocks Amid Cautious Markets
Kotak Securities Expert Names Three Short-Term Stock Picks
Runwal Enterprises Shares Make Muted Market Debut
Orient Cables Shares Debut Nearly 65% Above IPO Price
Experts Prefer NSE Shares Ahead of Exchange Q2 Results
Investors Face Final Buying Day Before Split and Spin-Off
