Stocks below Rs 50: Top trading ideas for November 26; watch out!
So, here are the top trading ideas for November 26:
After a severe fall in the latter part of Wednesday’s session, the market participants were in a state of confusion, wondering what could drive the markets higher from here on, as the positive global cues are only helping the cause beyond a positive opening. Interestingly, the big boy of D-Street rose to the occasion and aided the upmove in the benchmark indices on Thursday.
The bulk of the gains of Nifty were contributed by the index pivotal i.e. Reliance Industries as it jumped as much as 6 per cent and recorded its highest single-day gains in the last one month.
The broader markets also rose to the occasion and supported the market with Nifty Midcap 100 and Smallcap 100 advancing 0.60 per cent & 0.77 per cent, respectively.
Considering that the broader markets are looking in fine touch and stock-specific action would continue on D-Street, we will share some interesting stock names that trade below Rs 50. This is not a random picking of the stocks as all these stock picks are based on a particular system.
So, here are the top trading ideas for November 26:
DPSC Ltd: The stock is trading very close to its 52-week high and interestingly, on Thursday, it closed at its upper limit of the day. Besides, the volumes too were robust; hence, watch out for the action in this stock.
Compuage Infocom: The stock gained a whopping over 15 per cent and also, witnessed its highest single-day volume since the first week of August.
Hindustan Construction Company (HCC): The stock got locked at its upper limit of the day at Rs 10.55 and interestingly, it is nearing breakout of the neckline pattern of the double bottom, which is one of the reliable patterns in technical analysis. Volumes for the day were the highest since October 18.
HCL Infosystems: The stock got locked at its upper limit of the day at Rs 14.45. Interestingly, the stock is nearing the breakout of the channel pattern, and volumes recorded for the day were highest since October 08.
Ganga Forging: The stock logged a fresh 52-week high on Thursday and interestingly, it is on the verge of a multi-week breakout; hence, keep a close watch on this stock!