Zen Tech's Defense Boost: From Oversold to Overjoyed!
Forget mindfulness apps; sometimes, all a stock needs for true 'zen' is a hefty defense contract! Zen Technologies just proved that the path to inner peace (and a 9% rally) involves a cool Rs 404 crore order book for defence. It seems the market, like a well-trained soldier, snaps to attention when serious money for serious tech is on the table. Who knew simulated warfare could lead to such real-world investor jubilation?
This sudden surge isn't entirely out of the blue. Delving into the technical trenches, Trendlyne data had previously flagged Zen Tech's 14-day Relative Strength Index (RSI) at a remarkably low 26.5. For those who speak fluent market, an RSI below 30 typically screams 'oversold,' indicating the stock had been punished perhaps beyond reason and was ripe for a correction. Bagging such a significant defense order provided precisely the catalyst needed to ignite that much-anticipated rebound, turning a technical whisper into a roaring rally.
