Data Patterns (India) Ltd sees 5.67% rise in stock price, but receives 'Strong Sell' call from MarketsMOJO

Data Patterns (India) Ltd, a midcap IT software company, saw a rise in its stock price by 5.67% on November 12, 2024. This increase was in line with the overall performance of the IT sector, as the company outperformed the sector by 5.32%.

According to MarketsMOJO, a leading stock analysis platform, the stock of Data Patterns (India) has been given a 'Strong Sell' call. This indicates that the stock may not be a good investment option at the moment.

On the day of the rise, the stock touched an intraday high of Rs 2350, which is a significant increase of 7.5%. This also marks a trend reversal for the stock, as it had been falling for three consecutive days prior to this increase.

However, it is worth noting that Data Patterns (India) is currently trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This suggests that the stock may not have a strong upward trend in the near future.

In comparison to the overall performance of the Sensex, Data Patterns (India) has shown a better performance in the past 1 day and 1 month, with a 4.73% and -7.52% increase respectively. This is higher than the Sensex's performance of 0.11% and -2.21% in the same time periods.

Overall, Data Patterns (India) has shown a positive increase in its stock price, but with a 'Strong Sell' call from MarketsMOJO and trading below its moving averages, investors may want to carefully consider their options before investing in this midcap IT software company.