Data center proxy play Orient Technologies jumps 18% in one day, could head towards Rs 470

Shares of Orient Technologies soared 18% on Friday on the back of strong volume build-up and frenzied buying at lower levels. The stock has rallied 21% in the past 5 days. Orient Technologies, seen as a proxy play for data-centre and IT infrastructure themes, has been in a long consolidation over the past few months after losing nearly half its value from the highs.

Analysts say that at around Rs 416, the stock is holding firm near its short-term support zone of Rs 405–400, which suggests buyers are absorbing any dips.