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Cement manufacturer Ambuja Cements Ltd has risen as much as 4.6 per cent to its highest since November 3, 2015.
The stock has broken resistance at Rs 209, the 23.6 per cent Fibonacci retracement level from the fall from Rs 287 to Rs185.
The stock's 20-day SMA is above the 50-day SMA, indicating a bullish signal.
The Trend Intensity indicator has risen 2 points to 20 from Wednesday's level of 18 indicating an uptrend.
A rise above 15 in the Trend Intensity indicator indicates that a trend has started.
The stock had gained 1.55 per cent this year as of Wednesday's close, while the broader index had lost 5.63 per cent in the same period.
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