Momentum Stocks: Suraj Estate Developers, Presstonic Engineering, Kay Cee Energy Rise Up to 13% on Sheer Momentum

A few stocks moved strongly on September 21 despite there being a lack of fresh triggers for the wider market. The stocks that made a move included Suraj Estate Developers, Presstonic Engineering and Kay Cee Energy & Infra, which gained between 8% and 13%. 

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The upside in prices was backed by strong technical performance of these stocks along with buying interest as all of the stocks were seen trading above their important short and medium-term simple moving averages (SMAs). 

Other stocks to have hit new 52-week highs also included Peria Karamalai Tea and Produce Company, ESDS Software Solution and Nimbus Projects, among others. 

Suraj Estate Developers rises over 13% 

Suraj Estate Developers gained the most out of the three momentum stocks, with its share price rising 13.04% to ₹217.35. 

At this level, the stock was trading above its 30-day SMA of ₹192.28, 50-day SMA of ₹194.88 and 150-day SMA of ₹206.06. 

It was also seen trading just above its long-term 200-day SMA of ₹216.35. 

Presstonic Engineering gains over 10% 

Presstonic Engineering shares advanced 10.46% to ₹35.90. 

The stock moved above its 30-day SMA of ₹32.50 and 50-day SMA of ₹30.10. The day’s rise also took it marginally past its 150-day SMA of ₹35.88. 

However, Presstonic Engineering remained below its 200-day SMA of ₹41.23. 

Kay Cee Energy & Infra surges 8% 

Kay Cee Energy & Infra was yet another stock that witnessed a significant rise, closing up 8.03% at ₹86. 

The stock closed above its 30-day SMA of ₹79.61 and its 50-day SMA of ₹83.62. 

All of its other long-term moving averages were still trading above its current level. Its 150-day SMA was at ₹102.53, while its 200-day SMA was ₹112.22. 

Oracle Financial Services, TechD Cybersecurity and GTPL Hathway decline 

While several counters moved higher, the session also saw selling pressure in some stocks. 

Oracle Financial Services Software shares declined 5.94% to ₹11,131. The stock slipped below its 30-day SMA of ₹11,833.73 and 50-day SMA of ₹11,666.56, but remained above its 150-day SMA of ₹9,543.55 and 200-day SMA of ₹9,109.10. 

TechD Cybersecurity fell 2.82% to ₹549. The stock was below all four moving averages cited in the report ₹564.91 for 30 days, ₹583.57 for 50 days, ₹556.18 for 150 days and ₹570.14 for 200 days. 

GTPL Hathway also traded below its major moving averages as its shares fell 2.74% to ₹54.59. Its 30-day, 50-day, 150-day and 200-day SMAs stood at ₹56.13, ₹58.14, ₹62.55 and ₹69.88, respectively. 

Several stocks touch fresh 52-week highs 

The session also saw a number of stocks reach fresh 52-week highs. 

The list included ACME Solar, Jyoti CNC Auto, Action Construction, Welspun Corp, Laurus Labs, Aegis Vopak, PVR INOX, Welspun Living and Aurobindo Pharma. 

Peria Karamalai Tea and Produce Company, ESDS Software Solution and Nimbus Projects were among the stocks locked in their upper circuits during the session. 

The September 21 trading activity therefore showed contrasting pockets of momentum, with Suraj Estate Developers, Presstonic Engineering and Kay Cee Energy & Infra recording sharp gains, while Oracle Financial Services Software, TechD Cybersecurity and GTPL Hathway moved lower.