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As the Indian markets continued their short-term rally, with the index closing the session 0.19% up at 19,443.5, many stocks came on investors’ radar. In case you are looking for some outperformers of today’s session, here’s a list of a couple of them
Alankit Limited
Alankit Ltd (NS:) is a securities brokerage firm with a market capitalization of INR 248 crore. The stock jumped and locked in at a 10% upper circuit, at INR 12.15 in today’s session. The volume backing the move was recorded at 6.38 million shares, which is the highest figure in over a year.
Image Description: Daily chart of Alankit with volume bars at the bottom
Image Source: Investing.com
This kind of volume expansion on such a sharp rally denotes huge investors’ participation which further improves the quality of the trend. On the technical front, the stock now seems poised to travel to the next hurdle of INR 13.5. As this is a penny stock, low-capitalized traders should steer clear of such high-risk counters.
RPSG Ventures Limited
RPSG Ventures Ltd (NS:) is a diversified conglomerate that has many businesses under its umbrella such as RP Goenka International School, Lucknow Franchise of IPL, Too Yumm FMCG brand etc. Today, the stock jumped 6.35% to INR 573.35 on the NSE and surged past the resistance of a falling channel on the daily chart.
Image Description: Daily chart of RPSG Ventures with volume bars at the bottom
Image Source: Investing.com
This is a trend reversal pattern which indicates a probable resumption of an uptrend. As the momentum is on, the stock might touch the level of INR 610 in the near future.
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