Momentum Stocks: Tata Chemicals, Tata Investment, eMudhra gain up to 14% on sheer momentum

Fresh updates from the financial markets indicate that In a market short on fresh triggers, several stocks quietly grabbed attention on September 15, 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.

Tata Chemicals shares jumped 14.07% to ₹734.90, trading well above their short- and long-term moving averages. The stock’s 30-day, 50-day, 150-day and 200-day simple moving averages stand at ₹644.26, ₹664.66, ₹696.71 and ₹712.14, respectively, indicating firm upward momentum.

Tata Investment Corporation shares rose 12.27% to ₹733.20, with the stock trading above all key moving averages. Its 30-day, 50-day, 150-day and 200-day simple moving averages stand at ₹653.08, ₹657.69, ₹660.06 and ₹666.99, respectively, signalling sustained buying momentum.

eMudhra shares advanced 12.18% to ₹592.85 and traded comfortably above their short- and long-term moving averages. The stock’s 30-day, 50-day, 150-day and 200-day simple moving averages stand at ₹528.46, ₹498.25, ₹473.45 and ₹499.33, respectively, pointing to a firm bullish trend.

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.

Revathi Equipment shares declined 12.27% to ₹642.15 and traded below all key short- and long-term moving averages. The stock’s 30-day, 50-day, 150-day and 200-day simple moving averages stand at ₹731.97, ₹725.50, ₹672.93 and ₹681.66, respectively, indicating continued softness in the stock.

IL&FS Investment Managers shares declined 7.31% to ₹8.12, trading below their 30-day and 50-day moving averages, but remaining above the 150-day and 200-day averages. The stock’s 30-day, 50-day, 150-day and 200-day simple moving averages stand at ₹8.76, ₹8.55, ₹7.93 and ₹7.94, respectively.

Century Extrusions shares eased 6.70% to ₹20.47, trading below all key moving averages. Its 30-day, 50-day, 150-day and 200-day simple moving averages stand at ₹21.94, ₹20.72, ₹20.36 and ₹20.84, respectively, suggesting near-term selling pressure.

Several stocks touched fresh 52-week lows, highlighting persistent selling pressure in the market. Notable names that hit new lows included HEG, Ircon International, Reliance Industries, IRCTC, Tata Consumer Products, P&G Hygiene.

SRG Housing Finance, Medi-Caps, Dhoot Transmission  among others were locked in their softer circuits, reflecting firm selling and signalling bearish near-term sentiment.