Buzzing stock under Rs 100: Balaji Telefilms

Such strong price action is often accompanied by a huge volume, which beats the 50-day average volume by a huge margin.  

Balaji Telefilms, a small-cap company with a market cap of Rs 800 crore, is engaged in the production of television content.

The stock of Balaji Telefilms has surged over 8 per cent despite the overall bad sentiment in the market. With this, the stock has hit a fresh 52-week high of Rs 82. Such strong price action is often accompanied by a huge volume, which beats the 50-day average volume by a huge margin.  

In the past two trading sessions, the stock has witnessed a rise of about 25 per cent. Such a strong price structure has seen the RSI jumping into super bullish territory. With this, the RSI has also crossed above its prior swing high. The MACD histogram has also registered a higher high, which demonstrates the strong potential of the uptrend. The moving average points upwards, which suggests the bullish nature of the stock. The difference between its stock price and the 20-day short-term moving average is over 20 per cent, which highlights the extremely high momentum of the stock.  

Traders, who are looking to capture such momentum, can keep this stock on their watchlist. However, it is quite attractive in the short term.