Momentum Stocks: Golden Tobacco, Moquality, Digjam share under pressure, down 4% each

The latest market report highlights that In a market short on fresh triggers, several stocks quietly grabbed attention on September 28, 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.

Landsmill Green shares surged 12.5% to ₹0.72, trading above the 30-day SMA of ₹0.64 and 50-day SMA of ₹0.70. That stated, the stock remained below its 150-day SMA of ₹0.87 and 200-day SMA of ₹0.97.

Snehaa Organics shares advanced 6.19% to ₹48, trading above the 30-day, 50-day and 150-day SMAs of ₹45.20, ₹46.19 and ₹45.48, respectively. That stated, the stock remained below its 200-day SMA of ₹51.23.

R Systems International shares rose 4.73% to ₹255, trading above its 30-day SMA of ₹243.48 and 50-day SMA of ₹247.31. That stated, the stock remained below its 150-day SMA of ₹260.69 and 200-day SMA of ₹292.12.

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.

Golden Tobacco shares declined 4.64% to ₹23.42, trading below its 30-day, 50-day, 150-day and 200-day SMAs of ₹24.56, ₹24.67, ₹25.84 and ₹27.14, respectively.

Moquality shares declined 4.19% to ₹190.73, trading below its 30-day, 50-day, 150-day and 200-day SMAs of ₹199.07, ₹200.81, ₹198.11 and ₹198.02, respectively.

Digjam shares eased 4.03% to ₹51.90, trading below its 30-day SMA of ₹54.08, but remained above its 50-day, 150-day and 200-day SMAs of ₹50.97, ₹46.75 and ₹47.53, respectively.

Several stocks touched fresh 52-week low, highlighting persistent selling pressure in the market. Notable names that hit new low included IRB Infrastructure, Eris Lifesciences, Jupiter Wagons, Ambuja Cements, Jio Financial Services, Reliance Power, CG Consumer, Bayer CropScience, Hindustan Unilever, General Insurance Corporation of India, Tata Consumer Products, Bank of Baroda, Reliance Industries, TMPV, Ircon International, SJVN, Britannia Industries, India Cements, UPL and NSDL.

RTS Power Corporation, Cubex Tubings, JHS Svendgaard Retail Ventures among others were locked in their upper circuits, reflecting firm buying and signalling bullish near-term sentiment.