Bullish Momentum The market on August 28 saw several names break key technical levels, sparking buying interest.
Next Mediaworks’ share price leapt 19.38% to Rs 4.62, trading above its 30‑day, 50‑day and 150‑day simple moving averages (Rs 3.87, Rs 3.92 and Rs 4.42) but still below the 200‑day SMA of Rs 4.85.
Exxaro followed suit, surging 19.29% to Rs 7.42 and trading above its 30‑, 50‑, 150‑ and 200‑day SMAs of Rs 6.22, Rs 6.40, Rs 6.75 and Rs 7.11.
Tejas Networks also advanced 9.71% to Rs 569, comfortably above its 30‑, 50‑, 150‑ and 200‑day SMAs (Rs 518.65, Rs 545.24, Rs 468.08 and Rs 468.15).
In addition, several stocks touched fresh 52‑week highs, including Redington, Oracle Fin Services, Bajaj Auto, HFCL, Divis Labs, Piramal Finance, Aether Industries, Sai Life Sciences, Solar Industries, Bosch, Laurus Labs, Welspun Living and Welspun Corp, signalling sustained buying pressure.
Bearish Signals Not all stocks followed the bullish trend.
Jaykay Ent’s share price fell 3.21% to Rs 153.85, trading below its 30‑, 50‑ and 150‑day SMAs (Rs 158.96, Rs 166.28 and Rs 161.30), indicating weak short‑ to medium‑term momentum.
Crest Ventures slipped 2.17% to Rs 363.05, trading below its 30‑, 50‑ and 200‑day SMAs (Rs 371.11, Rs 375.14 and Rs 364.54) while remaining above its 150‑day SMA of Rs 360.79.
BIL VYAPAR’s price dropped 1.96% to Rs 4.01, staying below its 30‑, 50‑, 150‑ and 200‑day SMAs (Rs 4.09, Rs 4.14, Rs 5.60 and Rs 6.86), reflecting continued weakness across both short‑ and long‑term trends.