Based on our analysis, we’ve shortlisted three 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 first
pick is Orient Electric Ltd. It was incorporated in the year 1997, a Mumbai based company provides
IT solutions with expertise in creating specialized products and solutions
within its business circles. It has expertise in IT Infrastructure, IT Enabled
services, Data and Cloud management services in various sectors in
industrial surfaces.
The
company has a market capitalization of ₹ 1356 crore, stock PE=26.9, Dividend
yield=0.55%, ROCE=26.5%, ROE=20.0%.Current share price is ₹ 326.See the chart
below;
Our 2nd
stock is Phoenix Mills Ltd. is a real estate development company in India. It has two segments of
business activities. Real estate or property and hospitality. The company
is engaged in leasing property, management and construction of residential
property and hotel business. It is India's leading retail mall developer
and operator.
The
company has a market capitalization of ₹ 54555 crore, stock PE=55.4, Dividend
yield=0.16%, ROCE=11.2%, ROE= 9.81%, current stock price is ₹ 1526.See below
the chart;
Our 3rd
stock is Ajmera Reality & Infra India Ltd. It is engaged in the business of providing
residential and rented property. It was incorporated in 1985.This company has
presence in Ahmedabad Mumbai, Bengaluru in India and Bahrain and UK
abroad.
It has a
market capitalization of ₹ 3688 crore, stock PE= 28.1, Dividend yield= 0.43%,
ROCE=12.8%, ROE=12.2%, current stock price is ₹ 936.See below the daily chart
of Ajmera;
(Stop- Loss in these stocks should be one candle close below 20 EMA line or as per individual risk appetite.)
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.
