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 Shiva Texyarn Ltd.
The company is a profound leader in manufacturing cotton yarn and textile
products such as coated and laminated fabrics, home textiles, and other premium
products of textile segment. It was incorporated in 1980.
The company has a capacity of around 53000 spindles located in
Coimbatore.
It has specialized different categories of manufacturing divisions such
as processing division, technical division, garments division, and
renewable energy division whose installed capacity is 13.195 MW.
It has a market capitalization of ₹ 264 crore, stock PE= 22.4, Dividend
yield=0.00, ROCE=9.10%, ROE=9.13%, current stock price is ₹ 206.See the daily
chart of Shiva Texyarn below:
Our 2nd pick is Maharashtra Seamless Ltd., is manufacturing seamless pipes and
tubes, ERW pipes. It was incorporated in 1988.The company is a part of D. P.
Jindal group. It has also developed a renewable power generation and rig
operation hub.
The company has a market capitalization of ₹ 9853 crore, stock PE=12.7,
Dividend yield=1.36%, ROCE=16.6%, ROE=12.9%, current stock price is ₹ 735.See
the chart below:
Our 3rd stock is Synergy Green Industries Ltd. The company is
under the group of Shirgaokar Brothers whose main business activities are sugar
foundry products and heavy engineering products. It was incorporated in
2010 mainly manufacturing SG and Clean castings.
It has a market capitalization of ₹ 869 crore stocks PE=51.4, Dividend
yield=0.00%, ROCE=20.8%, ROE=21.9%, current stock price is ₹562.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.
