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Saturday
June, 15

2 Penny Stocks that Exploded with High Volume on Thursday!

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While the broader market sentiment remained on the negative side on Thursday, some stocks managed to gain investors’ interest, especially small-cap stocks. If you are into trading these high-risk counters, here’s a list of two that you might want to put on the watchlist.

B.A.G Films and Media Limited

B.A.G. Films and Media Ltd (NS:) is a film and television serial production company with a market capitalization of INR 93 crore. The stock garnered unexpected attention today as investors’ bidding war helped it rally 17.2% to INR 5.45, the highest level of the current calendar year.

Image Description: Daily chart of B.A.G Films and Media with volume bars at the bottom

Image Source: Investing.com

The rally was backed by a heavy volume jump of 4.54 million shares, which is the highest one-day figure in around 5 years, and a whopping 2,125% higher than the 10-day average volume of 204K shares. As the momentum is super high, the stock can test its next hurdle of INR 7 quite shortly and a stop loss below INR 4.45 can be placed to manage the risk on long positions.

Vakrangee Limited

Vakrangee Ltd. (NS:) is a technology solutions company with a market capitalization of INR 1,552 crore. The stock has been on the radar of bulls since yesterday when it rallied 10.2% which was followed by another buying session today, helping it to soar by 6.5% to INR 17.2. The stock is rising after making a double bottom chart pattern on the daily chart, and that too around the 52-week low.

Daily chart of Vakrangee with volume bars at the bottom

Image Description: Daily chart of Vakrangee with volume bars at the bottom

Image Source: Investing.com

This is a reversal pattern and its formation is instilling confidence that Vakrangee shares are ready to turn the trajectory of their course. Although the pattern is not yet complete, it is in the last phase of completion and a breakout above INR 19.5 will mark a prominent reversal. Short-term traders can eye for this hurdle (INR 19.5) as the nearest target for long positions.

Read More: 2 Blue Chips Growing at the ‘Fastest Pace’!



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