Three textile stocks breaking out on the charts
Live MintThe Indian stock market has seen a sharp reversal in recent weeks, with the Nifty50 index nearing the 25,000 mark, sparking a wave of optimism. Definedge Textile Index vs Nifty500: The ratio chart To analyse the relative performance of textile stocks against the broader market, the Definedge Textile Index was compared with the Nifty500, a comprehensive index that tracks a wide range of Indian stocks, including mid-cap and small-cap segments. View Full Image On the weekly chart, Swan Energy recently broke out of a symmetrical triangle pattern—a technical signal indicating a potential trend reversal and a shift to the upside. The technical charts of the textile sector, represented by the Definedge Textile Index, signal a clear bullish trend, underpinned by the Golden Cross formation and the growing momentum in key textile stocks. The sector’s outperformance relative to the broader market, as highlighted by the ratio chart with the Nifty500, reinforces the potential for robust returns in textile stocks.
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Textiles stocks: Key triggers set the stage for growth in these two companies
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