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 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 NYKAA. Also known as FSN E-mail commerce Ventures Ltd.
(FSNEV) digitally Indian consumer technology company. It delivers content- led,
lifestyle experience to consumers. The company retains a diverse portfolio of
beauty personal care, and fasion products. It has its own brand products
completely produced by itself.
The company has a market capitalization of₹ 61041 crore, stock PE=924,
Dividend yield=O.00% ROCE=9.56%,ROE=5.16%, current stock price is ₹213.See the
chart below:
Our 2nd pick is AGI Infra. The company is
engaged in the business of real estate and construction services. It was
established in 2005.It is an ISO 9001-2008 company.
The company has a market capitalization of₹ 2478 crore, Stock PE=37.2,
Dividend yield=0.05%, ROCE=21.8%, ROE=25.7%, current stock price is ₹1017.See
the below chart of AGIL:
(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.
