Don’t miss action in these Smallcap stocks that have witnessed technical breakout!

Smallcap stocks with a potential to turn multibagger in future generally attract many market participants

Stock specific action continued on D-street as fundamentally strong and fairly valued stocks witnessed strong buying interest. The Nifty Smallcap index outperformed the benchmark indices and surged 0.54 per cent on Monday. Smallcap stocks with a potential to turn multibagger in future generally attract many market participants. Today, we have witnessed strong buying sentiment in these top stocks as they register a strong price volume breakout on the technical chart:   

Nava Limited: The Rs 3,500 crore-market cap stock witnessed a surge over 7 per cent during Monday’s trading session, aided by strong buying activity. Technically, the stock is nearing its 25-week cup and handle pattern breakout level, which lies at Rs 256 level. Interestingly, nearly 20 lakh shares were traded which is greater than 10-day average volume. The stock trades above all key moving averages and is likely to be a hot topic among traders in upcoming trading session.   

Voltamp Transformers: The Smallcap stock witnessed a double bottom pattern breakout as it soared over 15 per cent on Monday. Such breakout indicates bullish reversal and shows strong tendency of upmove. The stock has had a steep correction of over 35 per cent from its all-time high levels and such price action is deemed very positive. The volume has been massive and multifold and we can witness strong trading activity in the next trading session.   

Uniphos Enterprises: UNIENTER has surged over 15 per cent amid fresh buying interest. It has registered a strong price volume from its 88-week long consolidation with above average volume. With this, it has hit a fresh all-time high of Rs 159.80 level on NSE. Keep it on your watch list to track its further price action.