RMI scanner generates new 'buy’ signal in Nifty, these 4 stocks. Do you own any?

.

The equity benchmarks ended the week gone by on a high, with the 30-pack Sensex closing 1.42 percent up and the broad-based Nifty gaining almost 2 percent during the period.

M&M gained 11.46 percent to top the list of gainers in the largecap space. Wipro was up more than 10 percent and Maruti climbed 6 percent during the week.

One Global shares zoomed 70.44 percent, PCL 66.06 percent, Jubilant Industries 55.11 percent and Uni Royal shares rallied 48.55 percent during the week .

The advance-decline ratio for February stands at 1.02.

Given the bullish undertone of the market, we find some shares as well as  the Nifty 50 generating a "new buy" signal on the daily time frame, according to the RMI scanner.

The Rohit Momentum Indicator (RMI) generates buy and sell signals. It is a non-range bound indicator.

Here is the list:

Natco Pharma: The shares of Natco Pharma witnessed a price volume breakout in the previous trading session with spurt in volumes over four times and a price rise of more than 15 percent. In the past year, the stock has gained more than 91 percent and this year, more than 24 percent. Natco Pharma shares are 7 percent away from their life highs.

Neuland Labs:  On year-to-date basis, the smallcap stock is up more than 35 percent. In one year ,Neuland Lab shares have delivered 332 percent returns to trade at life highs. Neuland Laboratories is a leading manufacturer of active pharmaceutical ingredients (APIs) and an end-to-end chemistry-related solutions provider for the pharmaceutical industry.

Tips Industries: Multibagger Tip Industries shares have gained 36 percent this year and 197 percent in the past year. Tips Industries Limited is an Indian music record label and film production, film promotion, and film distribution company in Mumbai.

Aarti Industries: Shares of Aarti industries are up by 7 percent on year-to-date basis. In the past year, the stock has gained more than 28 percent. Aarti Industries is a leading Indian manufacturer of speciality chemicals with a global footprint.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.