These Smallcap stocks witnessed strong technical breakout on February 7! Do you own any?
Keep a close eye on some of the top Smallcap stocks that have witnessed technical breakout on February 7:
Despite the broader market being under selling pressure on February 7, good quality stocks continued to see strong buying interest. These Smallcap stocks outperformed Nifty Smallcap index which fell 0.74 per cent on Tuesday. Generally, Smallcap stocks with a potential to turn multibagger in future attract many market participants. Keep a close eye on some of the top Smallcap stocks that have witnessed technical breakout on February 7:
Zensar Technologies: The Rs 5000 crore- market cap stock witnessed strong buying interest as it soared over 5 per cent on Tuesday. It has broken out from its 9-week rounding bottom pattern with good volumes. The volume stood above average and greater than the 10-day and 30-day average volume. It has also crossed above its 200-DMA. The 14-period RSI (69.78) is in bullish zone and suggests strong relative strength. The scrip is expected to see strong bullishness in near term.
Kirloskar Industries: The stock soared nearly 6 per cent amid positive trading activity. Currently, the stock has closed at the breakout level of ascending triangle pattern with massive volume. Interestingly, the key moving averages are in an uptrend and indicate bullishness across all timeframes. The MACD has given a bullish crossover which supports the bullish bias. The stock can see strong upside potential if it sustains above Rs 2100 level.
Apar Industries: The Electric equipment stock has skyrocketed over 15 per cent aided by strong buying interest. It has marked a fresh all-time high level of Rs 2265 level on NSE. All the technical parameters have a bullish bias towards this stock. It is likely to be a hot topic among traders in the upcoming trading sessions.