Trending small cap IT Stocks: Dont miss action in these 5 breakout stocks
Saksoft is trading above all its key moving averages and promises to remain in limelight next week.
BSE Sensex clsoed above 60000 levels for the first time in its history while the BSE SmallCap index and BSE Midcap index slipped in to the red. The BSE IT index along with the BSE Realty index, BSE Auto index and BSE Private Bank index outperformed the markets on Friday.
Following (breakout) trending small cap IT stocks need to be in your watchlist:
1. Saksoft: The share price of this high quality multibagger small cap IT stock with strong balance sheet and strong fundamentals, touched a fresh all time high on Friday. The shares of Saksoft witnessed a price volume breakout on Friday, however the stock was seen retracing from its day highs. Saksoft is trading above all its key moving averages and promises to remain in limelight next week. The share price of Saksoft closed higher by nearly 7 per cent.
2. NIIT Ltd: The shares of NIIT Ltd made a fresh all time high on Friday. The share price of NIIT Ltd jumped higher by ~13 per cent with a spurt in volume of 5.69 times. The stock made a previous high of about Rs 350 per share in August this year. With the gain on Friday the stock has broken out of the double top pattern with spurt in volumes, which suggests bullishness in the counter.
3. Aptech: The share price of Aptech ltd gained by more than 10 per cent on Friday. On weekly chart a bullish engulfing pattern is formed in Aptech, indicating a continuation of the bullish trend. The stock faces a stiff resistance around Rs 318- 319 levels. 319 is also the 52-week high for the stock, printed in today’s session. Aptech is on the verge of a multiyear breakout.
4. KPIT Technology: The share price of KPIT technology soared by 6.28 per cent on Friday with a huge spike in volume. The price volume breakout has ensured that the stocks close at its all-time highs i.e if we consider the closing prices. On weekly charts a bullish engulfing pattern is seen, indicating a continuation of trend. The stock is trading above all the key moving averages and is on the verge of a range breakout.
5. Nucleus Software: The Share price of Nucleus Software soared by 2.56 per cent on Friday. The stock is up by ~9 per cent in one month and is has crossed the 50D SMA on Friday. The stock has bounced back from its 200D SMA on 22 September and is expected to trade with optimism as the company has already announced a buy back offer. The share price gained on Friday with a spurt in volume suggesting strength in the price movement