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 first
stock is Chambal Fertilizers and Chemicals Ltd. The company was established in 1985, is engaged
in the business of manufacturing Urea. It is the largest producer of Urea
acquiring 13% of India's total production. It is situated in Kota,
Rajasthan, India.
It has a
market capitalization of ₹ 22754 crore, stock PE=13.0%, Dividend yield=1.76%,
ROCE=26.8%, ROE=19.8%, current stock price is ₹568.See below the daily chart of
Chambal Fertilizers:
Our
second pick is Tanla Platforms Ltd. It is a Hyderabad based Indian
company providing cloud communications services. It is a A2P Messaging provider
globally. The company has two establishments abroad- one in Singapore and
another in Dubai.
The
company has a market capitalization of ₹ 9048 crore, stock PE= 18.7, Dividend
yield= 1.79%, ROCE=29.2%, ROE=24.1%, current stock price is ₹ 672.See the chart
below:
(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.
