As the benchmark Sensex and Nifty trade near life highs, a number of stocks gain momentum from the overall rally in the market. On April 2, some 154 stocks scaled their fresh 52-week highs, while 20 went downhill to their 52-week lows.
Broader markets outperformed the benchmarks with BSE SmallCap index rising of over 1 percent despite the BSE Sensex closing over 100 points down.
The gaining of momentum flashed fresh 'buy' signals at many counters, shows the RMI scanner. The Rohit Momentum Indicator (RMI) generates buy and sell signals. It is a non-range-bound indicator.
Here's a list of stocks that generated fresh 'buy' calls recently:
Uflex: Uflex shares are up by more than 6 percent in one month. On a year-to-date basis, the shares are down 7 percent. On the April 2 trading session, the Uflex shares gained after it announced the commissioning of CPP film production at a Russian facility.
Trading above its short-term daily SMA of 10 days and 20 days , Uflex indicates near-term bullishness.
Avanti Feeds: The shares of Avanti Feeds rallied more than 17 percent on a YTD basis. The shares are trading above their near-term daily SMA, signalling a bullish undertone.
Also read : Capital Goods index records historic outperformance. Will the dream run continue?
Edelweiss: The shares of Edelweiss are down by more than 11 percent on YTD basis. From monthly lows however the shares have gained by more than 10 percent and are trading above their 10 days and 20 days SMA, indicating near-term bullishness.
Ahluwalia Contracts: The shares of Ahluwalia Contracts are up by 40 percent on a YTD basis, trading 10 percent shy off its all-time highs. Ahluwalia shares are trading above their near-term daily SMA.
Castrol India: Castrol India shares gained 10 percent on YTD basis and carry a high dividend yield of 3.5 percent. Castrol India share are trading above their 10 days SMA and 20 days SMA.
FDC: FDC shares are up by more than 11 percent on YTD basis. From its monthly lows the shares of FDC have gained by 5 percent, also trading above its 10 days SMA and 20 days SMA.
Godrej Agrovet: Godrej Agrovet shares are down by more than 8 percent on YTD basis. Trading above their short term moving averages the shares of Godrej Agrovet are up by 6 percent from its monthly lows.
Johnson Controls Hitachi Air Conditioning: The shares of Johnson Controls are up by more than 17 percent from its monthly lows while also trading above its important short term daily moving averages. Johnson Controls shares are trading flat on YTD basis.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
