Top budget day Trading Picks under Rs 100- Add to Your Watchlist!
Top 5 exciting short-term opportunities for day traders, particularly in the under Rs100 segment
With Budget Day just around the corner, India's stock markets are abuzz with anticipation. While seasoned investors gear up for potential policy shifts and sector-specific announcements, the budget day can also present exciting short-term opportunities for day traders, particularly in the under Rs100 segment.
Top 5 stocks to watch out for on budget day
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Urja Global Ltd: Urja Global Ltd experienced an exceptional trading day characterized by a strong price volume breakout, propelling the stock to an all-time high at Rs 34.45. This surge signals a robust bullish trend, amplified by a sharp rise and confirmation of super-strong bullish momentum. However, caution is to be taken as the Relative Strength Index (RSI) reached an extreme overbought level of 92.36. This heightened investor interest is marked by a significant volume spike and the stock being locked in the upper circuit. Traders should remain vigilant for potential corrections in this exuberant market environment.
Irb Infrastructure Developers Ltd: Irb Infrastructure Developers displayed positive momentum as evidenced by recent price volume breakouts, notably influenced by the budget 2024. Despite encountering some selling pressure and trading at Rs 66.05, the stock showcased a sudden jump in the slower uptrend. The Relative Strength Index (RSI) at 82.33 highlights a strong bullish sentiment, further supported by increased volume above the daily average. Investors should closely monitor the evolving scenario for potential shifts in the stock's direction.
NMDC Steel Ltd: NMDC Steel observed a noteworthy price volume breakout, though the day trade with some selling pressure and a trading price of Rs 68.45. The Relative Strength Index (RSI) at 80.44 indicates a bullish zone, and the higher volumes traded in consecutive sessions suggest sustained momentum. Traders should exercise caution and stay vigilant for potential changes in the stock's trajectory.
Dolat Algotech Ltd: Dolat Algotech demonstrated a commendable bullish momentum, breaking out of a cup & handle chart pattern and trading the day at Rs 84.7. The RSI at 81.10 further substantiates the bullish zone, while the stock's position above all crucial moving averages reinforces the positive outlook. Investors are advised to explore potential opportunities presented by this strong uptrend.
Vakrangee Limited: Vakrangee Limited exhibited a significant price volume breakout, culminating in the stock being locked in the upper circuit at Rs 30.15. The continuous upsurge and strong buyer interest, emphasized by an RSI of 84.05, mark it as a powerful momentum stock. Traders should be cognizant of the upper circuit lock, exercising caution and closely monitoring for any signs of a reversal or consolidation in this dynamic market scenario.
Disclaimer: The article is for informational purposes only and not investment advice.
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