Momentum Stocks: Sarthak Metals, Sterling Tools, Pix Transmissions rise up to 16% on sheer momentum

Reports coming in for today mention that In a market short on fresh triggers, several stocks quietly grabbed attention on October 1, 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.

Sarthak Metals advanced 16.36% to ₹74.18, trading above its 30-day SMA of ₹63.75, 50-day SMA of ₹65.66, 150-day SMA of ₹68.57 and 200-day SMA of ₹71.58, indicating firm upward momentum.

Sterling Tools shares rose 5.28% to ₹231.98, trading above its 30-day SMA of ₹220.34, 50-day SMA of ₹227.51 and 150-day SMA of ₹228.01. That stated, the stock remained slightly below its 200-day SMA of ₹234.33.

Pix Transmissions stock advanced 5.22% to ₹1,858.30, trading well above its 30-day SMA of ₹1,766.18, 50-day SMA of ₹1,781.58, 150-day SMA of ₹1,640.84 and 200-day SMA of ₹1,578.51, signalling firm momentum across key moving 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.

SKP Bearing shares declined 4.22% to ₹152, trading below its 30-day SMA of ₹158.69, 50-day SMA of ₹159.27, 150-day SMA of ₹157.36 and 200-day SMA of ₹160.96, indicating softness across key moving averages.

Ircon International stock declined 3.24% to ₹111.65, trading below its 30-day SMA of ₹115.39, 50-day SMA of ₹120.23, 150-day SMA of ₹132.09 and 200-day SMA of ₹139.27, signalling sustained downward momentum.

JK Cement shares declined 2.89% to ₹4,917, trading below its 30-day SMA of ₹5,063.10, 50-day SMA of ₹5,237.02, 150-day SMA of ₹5,321.82 and 200-day SMA of ₹5,409.27, reflecting softness across all key moving averages

Several stocks touched fresh 52-week low, highlighting persistent selling pressure in the market. Notable names that hit new low included Escorts Kubota, PB Fintech, Gujarat Energy, Bharti Hexacom, M&M, Maruti Suzuki, JK Lakshmi Cement, Bikaji Foods, SJVN, TVS Holdings, DCM Shriram, Godawari Power, ABLBL, Jio Financial, Motherson SWI, India Cements, HUL, Ambuja Cements, P&G Hygiene and Aditya Birla Fashion.

Sarthak Metals, Augmont Enterprises, Eurotex Industries and Exports among others were locked in their upper circuits, reflecting firm buying and signalling bullish near-term sentiment.