These Smallcap stocks witnessed strong technical breakout on February 8; do you own any?

Stock specific action continued on D-street as many good quality stocks witnessed positive price action and huge spurt in volumes

The Smallcap stocks trended higher on Wednesday after strong buying interest was seen in the broader market post the RBI MPC decision. The Nifty Smallcap index rose 0.84 per cent on a positive market day. Stock specific action continued on D-street as many good quality stocks witnessed positive price action and huge spurt in volumes. Generally, Smallcap stocks with a potential to turn multibagger in future attract many market participants. Meanwhile, shares of these top Smallcap stocks have experienced technical breakout on the chart on February 8. They are likely to be in action for upcoming trading sessions!  

Kriti Industries: The Rs 500-crore market cap stock has surged 20 per cent to hit the upper circuit at Rs 93.10 level on NSE. The plastic products manufacturer-stock has broken out from its 12-week consolidation pattern with huge spurt in volumes. With this, it has crossed above its key moving averages and closed at day’s high. The stock is likely to see further upside in times to come.   

Surya Roshni: The stock is in strong uptrend, having soared over 50 per cent in the past 4 months. On Wednesday, the stock jumped nearly 7 per cent, aided by strong buying interest as it marks its fresh all-time high of Rs 671.70 level on NSE. Moving average indicators indicate bullishness across all timeframes, along with technical parameters which show strong relative strength. With positive technical setup, the stock is expected to produce strong momentum.   

Symphony: The scrip rose 8.56 per cent during Wednesday’s trading session and emerged as the Top Gainers from the Nifty 500 stocks. On the technical chart, the stock has formed a higher high and higher low on the weekly chart, which is a sign of an uptrend. Strong price volume breakout is seen on lower timeframe after it crossed its prior swing high. About 11 lakh shares have been traded, which is the highest in many days. Keep a close watch on this stock to track its further progress.