Based on our analysis, we’ve shortlisted two stocks from the Nifty 500 that have closed above their 𝟮𝟬 𝗘𝗠𝗔 on daily time frame in the previous trading session. This suggests they may be poised for a potential upward move in the coming days on short term basis.
In our analysis, all these shortlisted stocks show signs of potential short-term upward movement. Notably, the Relative Strength Index (RSI) for each stock is either above 50 or approaching 60, reflecting rising momentum and buyer strength.
This alignment of price action with momentum indicators increases the probability of a near-term bullish move. We also noticed a notable volume spurt in these stocks.
Our 1st pick is Paradeep Phosphate. It was incorporated in 1981 engaged in
manufacturing of non-urea fertilizers. The company is also doing business of
trading, manufacturing, sales and distribution of different types of
fertilizers such as NPK-10, lNPK-12NP-20, Phospo gypsum, Zypmite
Hydroflorosilic Acid etc.
The company has a market capitalization of ₹14178 crore, stock PE=25.7,
Dividend yield=0.29%, ROCE=13.9%, ROE=14.4%, last closing price is₹174.See
below the chart:
Our 2nd pick is KEI Industries Ltd. It was
incorporated in 1968.It is an Indian based company engaged in
manufacturing cables and wires, stainless steel wire, and procurement,
engineering and construction of various projects. The company sells
different types of cables and wires like EHV cables, HT cables, LT cables in
India and abroad.
The company has a market capitalization of ₹37177 crore, stock PE=53.4,
Dividend yield=0.10%, ROCE=21.3%, ROE= 15.6%, Current stock price is ₹ 3892.See
the chart below:
The 3rd and final pick is FACT (Fertilizers And Chemicals
Travancore). It was established in 1943, is the first large scale fertilizers
company in India at Kochi, Kerala. The company is doing business of
manufacturing and selling of fertilizers and its by- products. The company is
functioning under the administrative control of Department of Fertilizers,
Ministry of Chemicals and Fertilizers, Government of India.
The company has a market capitalization of ₹63190, stock PE=2827(very
high), Dividend yield= 0.10%, ROCE=8.64%, ROE=1.63%, last closing price
is₹976.See the chart below:
(Stop- Loss in these stocks should be one candle close below 20 EMA line or as per individual risk apatite.)
Disclaimer: The information provided on MoneyWiseMind is for educational and informational purposes only. It is not intended to be financial advice, and you should not rely on it as such. Before making any financial decisions, you should consult a licensed financial advisor.
