Momentum Stocks: Goa Carbon, Grand Foundry, ESDS Software locked at upper circuit

New business data points to the fact that In a market short on fresh triggers, several stocks quietly grabbed attention on September 9, fuelled by technical breakouts, firm price action, and sustained buying interest.

The selected stocks are showing firm upward momentum, trading well above their key short- to medium-term moving averages, which indicates a positive trend in the near term.

Orient Green stock rose 7.64% to ₹10.28, trading above its 30-day (₹9.55) and 50-day (₹9.80) averages. It is marginally below the 150-day (₹10.30) and 200-day (₹10.64) averages.

Corona Remedies stock rose 6.42% to ₹2,236.20, trading above its 30-day (₹2,101.25) and 50-day (₹2,077.19) averages. It is additionally above its 150-day (₹1,795.80) average.

Innovision stock rose 5.70% to ₹286.85, trading above its 30-day (₹271.39) and 50-day (₹277.90) averages.

The selected stocks are witnessing downward pressure, as reflected in negative price movements and their positioning relative to key moving averages, indicating a wary market sentiment.

Tokyo Plast stock declined 4.59% to ₹74.58, trading below its 30-day (₹78.17), 50-day (₹80.42), 150-day (₹83.46) and 200-day (₹90.28) averages, indicating softness across both short- and long-term trends.

Future Market stock declined 3.37% to ₹9.17, trading below its 30-day (₹9.49), 50-day (₹9.63), 150-day (₹9.32) and 200-day (₹9.25) averages, signalling continued softness across all key moving averages.

Kronox Lab Scie stock declined 3.08% to ₹166.88, trading below its 30-day (₹172.18) average but above its 50-day (₹164.39), 150-day (₹140.58) and 200-day (₹139.58) averages, indicating short-term softness while the medium- and long-term trend stays positive.

In the meantime, several stocks touched fresh 52-week high, highlighting persistent buying. Notable names touching new high included Graphite India, Finolex Cables, One 97, Chennai Petro, Navin Fluorine, Sai Life Sciences, Redington, Anthem Biosciences, Laurus Labs, Neuland Lab, Divis Labs, Solar Industreis.

On the other hand, HDFC Life, ICICI Prudential, Wipro, Bikaji Foods, Dabur India, HDFC Bank, HUL, Swan Corp, Bayer CropSciences, ICICI Lombard, Voltas, SBI Life Insurance, IRCTC, United Breweries, Indiamart Intermesh, JK Lakshmi Cemenet, Kama Holdings, HEG touched 52-week low.

Goa Carbon, Grand Foundry, ESDS Software among others were locked in their upper circuits, reflecting firm buying and signalling bullish near-term sentiment.