New Buy Signals : These three stocks flash ‘new buy’ signals on RMI scanner

New Buy Signals

tvrfinnews.com

New Buy Signals : stocks flash ‘new buy’ signals on RMI scanner

New Buy Signals : The Nifty Microcap 250 index gained 1.57 percent and Nifty Smallcap index 1.16 percent as against a flat 0.27 percent rise in the benchmark Nifty 50 on April 3. On the BSE, at least 154 stocks hit fresh 52-week highs and 17 made fresh 52-week lows

The Nifty PSU Bank index ended the April 3 trading session as the top gainer with a 1.78 percent rise. Broader markets, on the other hand, outperformed with the Nifty Microcap 250 index up 1.57 percent and Nifty Smallcap index up 1.16 percent as against a flat 0.27 percent rise in the benchmark Nifty 50. New Buy Signals

On the BSE, at least 154 stocks hit fresh 52-week highs and 17 made fresh 52-week lows. Glenmark Pharma, Voltas, Shriram Finance, Cummins India, Siemens, Grasim, Colgate-Palmolive, JSW Energy and  HAL are some of the BSE 500 trending stocks that closed near their respective 52-week highs. New Buy Signals

We find three shares flashing ‘new buy’ signals on the daily time frame, according to the RMI scanner. The Rohit Momentum Indicator (RMI) generates buy and sell signals. It is a non-range-bound indicator.

Coforge: The shares went down by more than 12 percent in one month. On a year-to-date (YTD) basis, the Coforge shares have shed more than 8 percent, while in the last one year, they surged over 38 percent. Coforge is trading above its 10-day simple moving average (SMA). New Buy Signals

New Buy Signals : Of myths and midcaps: Four tortoise stocks that won the race in 2024

Alok Industries: Alok Industries shares are up by more than 36 percent YTD, while they have gained 135 percent in the last one year. The shares are trading above their 10-day SMA and 20-day SMA with momentum indicators showing a bullishness. New Buy Signals

Gujarat Ambuja Exports: The shares are down by more than 6 percent YTD, while in the last one year, they surged over 36 percent. The shares of Gujarat Ambuja Exports are trading above their 10-day SMA. New Buy Signals

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. New Buy Signals

The RMI scanner is a tool used to identify potential buying and selling opportunities based on the Rohit Momentum Indicator (RMI). While a “new buy” signal can be encouraging, it’s important to do further research before making any investment decisions. Here’s some information to help you: New Buy Signals

Understanding the RMI:

  • The RMI is a technical indicator that measures the momentum of a stock’s price.
  • It doesn’t have pre-defined buy and sell zones, so interpreting the signals requires some experience. New Buy Signals

Beyond the RMI Signal:

  • Look into the fundamentals of the companies: their financial health, future prospects, and industry trends.
  • Consider other technical indicators to confirm the RMI signal.
  • Remember, past performance is not necessarily indicative of future results. New Buy Signals

Finding More Information:

  • Search for news articles about the specific stocks that flashed the buy signals.
  • Look at analyst ratings and price targets for the stocks. New Buy Signals

Do your own research and be cautious before investing any money. New Buy Signals

tvrfinnews.com

Leave a Reply

Your email address will not be published. Required fields are marked *