When a stock closes above its 20 EMA
(Exponential Moving Average) on daily time frame, it often signals potential
bullish momentum in the near future. In financial markets where uncertainties are inherent,
investors tend to rely on growth-focused indicators to identify promising
opportunities. And the 20 EMA is one such powerful tool. It helps spot
potential trend reversals and confirms upward price strength for the upcoming days
on short term basis.
Based on our analysis, we’ve
shortlisted 𝗳𝗼𝘂𝗿 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 Waree Energies Ltd. WEL is the largest manufacturer of solar PV modules in India,
incorporated in 1990.It has a total capacity of 12 GW with five manufacturing
hubs in India with international presence.
WEL has a
market capitalization of₹88064 crore, stock PE=47.1, Dividend yield=0.00%,
ROCE=35.1%, ROE=27.6%, current stock price is ₹3068.00.See below the daily
chart of Waree Energies Ltd.
Our 2nd
pick is Faze Three Ltd.
This company
doing business of exports and manufacturing of household textile products such
as rugs, batchmates, cushions, throws, blankets etc. It has diversified mix
products of home textile segment and directly export to countries like USA,
Urope, and UK. It was incorporated in the year 1985.
Faze Ltd.
has a market capitalization of ₹ 1524 crore, stock PE=38.3, Dividend
yield=0.00%, ROCE=11.5%, ROE=10.0%, current stock price is ₹ 627.Below is the
daily chart of Faze Ltd....
Our 3rd pick
is Godavari Biorefineries formerly known as Godavari Sugar Mills Ltd., is an Indian company
incorporated in 1939.The company is a manufacturer of ethanol and Bio- based
chemicals.
Godavari
Bio. has a market capitalization of₹1353 crore, stock PE=0.00, Dividend
yield=0.00%, ROCE=5.79%, ROE=-3.65%, current stock price is ₹267.Chart is given
below....
Our 4th
and final stock is Wonder Electricals Ltd. established in 2014,is a leading manufacturer and
supplier of ceiling fans, pedestal fans, brushless DC fans. The company has a
market capitalization of ₹ 2330 crore, stock PE=141, Dividend yield=0.11%,
ROCE=18.2%, ROE=19.7%, current stock price is ₹ 174,last 5 years profit growth
is 30.2% CAGR.See the chart below....
(Stop- Loss in these
stocks should be one candle close below 20 EMA line).
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.
