Nifty managed to close 0.9 per cent higher on the last trading day of an eventful month in which we saw the India VIX fall from 16 to 12 levels, a 21 per cent drop in volatility.
Aggressive long positions were created in Piramal Enterprises, Abbott India, Torrent Pharmaceuticals, Tata Consumer Products and Colgate Palmolive on the monthly expiry day i.e. 28 March.
A new buy signal was generated in the daily period according to the RMI scanner on some of the F&O counters. The Rohit Momentum Indicator (RMI) generates buy and sell signals. It is an indicator without range limit.
Here is the list:
F&O Scripts with 'New Buy' Signal
Ambuja Cements: Share of Ambuja Cements rose more than 1 percent in a month. So far this year, Ambuja Cements shares have gained over 14 per cent, outperforming the markets. At a CMP of Rs 613, Ambuja cement shares are trading within 1 per cent of their all-time high levels. Ambuja Cements stock is trading above its 10-day SMA and 20-day SMA, indicating near-term optimism.
Also Read: Indicator shows 'buy' on 33% small cap Nifty as bulls return to broader markets
Godrej Consumer Products: Godrej Consumer Products stock is trading above its 10-day SMA and 20-day SMA, indicating near-term optimism. Shares of Godrej Consumer Products have risen over 9 per cent so far this year, while in the last one month, shares of Godrej Consumer Products have remained stable.
JK Cement: Shares of JK Cement have risen 7.28 per cent so far this year, while in March JK Cement shares fell over 9 per cent. JK Cement stock posted its worst monthly performance in FY24 in March after the stock fell from its all-time high levels of Rs 4,575 per share. On CMP, JK Cement stock is trading above its 10-day SMA.
L&T: L&T shares have gained over 8 per cent in the last month, while year-to-date LT shares have risen over almost 7 per cent. In the last one year, L&T stock has strengthened by over 75 per cent. L&T stock is trading above its respective 10-day SMA and 20-day SMA, indicating near-term optimism. Disclaimer: The opinions and investment advice expressed by the investment experts at Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to consult with certified experts before making any investment decisions.
