RMI scanner generates new ‘buy’ signal in these 3 stocks; do you own any?

RMI scanner

The Nifty made fresh highs on February 20 as banks outperformed while small cap stocks saw some profit booking.

We find some shares 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:

New Buy signal

Dishman Carbogen Amics : The shares of Dishman are up by more than 24 percent on year-to-date basis. Dishman Carbogen Amcis Ltd is engaged in Contract Research and Manufacturing Services (CRAMS) and the manufacture and supply of marketable molecules such as specialty chemicals, vitamins & chemicals, and disinfectants with presence in Switzerland, UK, Europe, China, and other countries.

HFCL: HFCL shares are up more than 30 percent on year-to-date basis. HFCL Ltd (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high-end telecom equipment, optical fiber, and optic fiber cable (OFC).

Navneet Education: The shares of Navneet Education are up by more than 7 percent on year-to-date basis. The firm is primarily into manufacturing and trading of education books, reference books, technical & professional books in paper and e-learning forms, and also paper and non-paper based stationery products.

Price Volume breakout

From Nifty 50 constituents we saw price volume breakout in Power Grid, Kotak Mahindra Bank and Grasim.

Zeel was up by 7.93 percent with jump in volume of 2.39 times. Gujarat Ambuja Exports , EID Parry, Home First Finance, Shree Renuka Sugars , Deepak Fertilisers, Sona BLW Precision Forgings, HFCL, Deepak Nitrate, Just Dial, Jindal Saw and Macrotech Developers saw price volume jump indicating bullishness.

Bullish Engulfing pattern

Shares of HDFC Bank closed at days high also forming a Bullish Engulfing pattern. Axis Bank ,Aarti Industries and Pidilite industries are the other stocks that saw bullish engulfing pattern formation.

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