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, both 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 Supreme Industries.
Supreme industries is the leading plastic utility products manufacturer in
India with wide range of products such as pvc pipes, plastic injection moulded
household products industrial plastic products and packaging products. It has
28 manufacturing facilities across the country offers a variety
of products capturing 70% market share.
The company has a market capitalization of₹ 54181
crore, stock PE=58.7, Dividend yield= 0.80%, ROCE=22.0 %, ROE=17.1%, last
closing price is ₹ 4266.See the chart below;
Our 2nd pick is Tata Consumer Products. It is a Tata
group of company engaged in the business of foods and beverages in India and
abroad. It's a leading tea company globally has a presence in Canada, North
America, UK, Australia, Middle East and Africa.
The company has a market capitalization of ₹109483 crore, stock PR=86.7,
Dividend yield=0.75%, ROCE=9.16%, ROE=7.01%, current stock price is ₹
1106.00.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.
