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Vodafone Idea's share price has risen by 5.44% today, reaching ₹11.05 as of 11:21 AM on September 23, 2024. On the previous trading day, the stock opened at ₹11.35 and closed at ₹11.05, hitting a high of ₹11.71 and a low of ₹10.96 during the session. Meanwhile, the Sensex is also up, trading at ₹84,708.4, which is a 0.19% increase.
Despite today's positive movement, the stock is still trading below its short-term and long-term moving averages. This means that on average, the stock price has been lower than expected for the past 5, 10, 20, 50, 100, and 300 days. For example, the 5-day moving average is ₹12.63, and the 10-day moving average is ₹12.99, both higher than the current price of ₹11.05.
In terms of technical analysis, Vodafone Idea faces resistance, or price levels that it may struggle to rise above, at ₹10.78, ₹11.08, and ₹11.57. On the other hand, it has support levels, or price points that could stop it from dropping further, at ₹9.99, ₹9.5, and ₹9.2.
So far today, trading volumes for Vodafone Idea have jumped by 427.22% compared to the previous session. This big increase in volume, combined with a price rise, is a sign that this upward move could be strong. However, higher volume with a price drop could signal potential further declines.
Overall, despite today's rise, the stock is in a broader downtrend, meaning its overall movement has been downward. Analysts predict a modest 1-year upside of 2.22%, with a target price of ₹11.30.
In terms of ownership, Vodafone Idea’s promoters hold 37.17% of the company. Mutual funds (MFs) have increased their stake from 0.43% in April to 0.69% in the July quarter, while foreign institutional investors (FIIs) raised their stake from 12.67% to 12.78% over the same period.
While Vodafone Idea's shares are up today, other companies in the telecom sector are seeing mixed results. For instance, Railtel Corporation is falling, but Bharti Airtel, Tata Communications, and Tata Teleservices Maharashtra are also seeing a rise. Meanwhile, the broader stock indices, Nifty and Sensex, are both on the rise, up 0.38% and 0.19%, respectively.
