When a stock closes above its 20 EMA (Exponential Moving Average) on weekly 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 to medium term basis.
As per 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 50/60, 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 ITI Ltd.,
is also previously known as Indian Telephone Services, a central public sector
unit, under the Department of Telecommunications of India. The company is
engaged in manufacturing, servicing and trading in telecommunication equipment’s
and it has other associated services. It was founded in the year 1948,
headquartered in Bengaluru, Karnataka.
The company has a market capitalization of ₹ 30787 crore, stock
PE= 0.00, Dividend yield=0.00%, ROCE= - 1.33%, ROE= - 16.2%, current stock
price is ₹ 320.30.See the chart below:
Our second pick is Firstsource Solutions Ltd. The company is a
leader in the Business Process Management Industry. It's part of the RP- Sanjib
Goenka Group. The company operates in various sectors like Finance, Banking,
education, Media, Entertainment, Technology Healthcare, Communication etc.,
with the philosophy of "Digital first, Digital now".
The company has a market capitalization of₹ 26161 crore, stick PE=42.1,
Dividend yield=1.208%, ROCE=15.4%, ROE=15%, current stock price is ₹ 369.85.See
the chart below:
Our third pick is Bluestar Ltd. It is engaged in air conditioning, refrigeration and MEP.
It's a multinational company head office at Mumbai, India.
It has a Market capitalization of ₹ 37576
crore, stock PE= 68.2, Dividend yield=0.50%ROCE=26.2, ROE=20.6, current market
price is ₹ 1827.50.See the chart below:
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.
