Bullish Momentum Stocks!
Nifty had a fantastic move last week, it almost rise by 2.5% in a week and closing above 18000 level after three long months with broad based rally exciting the market participants to buy more in this market.
Bank Nifty continue to outperform the nifty with leading private banks posting good set of numbers of forth quarter.
Let’s Explore some Momentum Stocks to trade in the coming week.
1. Sonacoms
Technical View:
Sona BLW Precision Forgings is an India-based automotive technology company. The company is engaged in designing, manufacturing and supplying engineered automotive systems and components.
The stock has reversed from the low of 400 level and we have seen heavy institutional buying.
It reclaims the 200 DEMA in weekly chart which is placed at 470.
We can see further upside till 560 to 600 and keep a stop loss of 400 hold for medium to long-term.
2. MTARTECH
Technical View:
MTAR Technologies was established in 1970, it is in the business of manufacturing various machine equipment, assemblies, sub-assemblies, and spare parts for energy, nuclear, space, aerospace, defence and other engineering industries.
The stock has been facing restistence at 1800 level and last week it managed to close above that 1800 mark in weekly time frame.
Which suggest more upside in this counter and can take out previous high of 2563. Add this stock for big upside with the support of 1500.
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Sources: tradingview.com
