RMI scanner generates ‘buy’ signal in these 2 stocks. Do you own any?

The Nifty hit fresh all-time highs and closed the week 0.78 percent higher, while the Sensex gained a percent during in period. M& M was the top performing stock, gaining more than 5 percent followed by ICICI Bank, Nestle and Sun Pharma, which ended 3.75 percent, 3.74 percent and 3.36 percent higher, respectively.

Several small-caps had more than  a decent week, with gains climbing up to 90 percent. Digital solutions provider Acceleratebs India skyrocketed 91.6 percent, Reliable India Ventures gained by 67.73 percent, Tarmat was up by 63 percent, ITCons E-Solutions strengthened by 57.74 percent, while Infronics Systems jumped by 48.96 percent.

We find two shares generating a “new buy” signal on the daily time frame, according to the Rohit Momentum Indicator (RMI) scanner. The RMI generates buy and sell signals. It is a non-range bound indicator.

New “buy” signal

Adani Ports

Adani Ports shares have gained 26 percent this year, so far. Trading at a PE of 39, the stock is at a 52-week high. Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.

NCC

Trading at life highs, NCC is up by more than 53 percent year to date. NCC Limited undertakes turnkey EPC contracts and BOT projects on Public-Private Partnership basis. In the past three years the company has compounded profits at 20 percent CAGR.

Price volume breakout stocks

Usha Martin shares jumped 9.98 percent with a spurt in volume of over 3.32 times. Indiabulls Housing Finance, Adani Wilmar, Vodafone Idea, Indus Tower, Intellect Design , Sona BLW Precision Forgings, Astral, Data Patterns, BEL , CAMS and Indian Hotels were some of the stocks that saw price volume breakout in the previous trading session.

From the smallcap space, SML Isuzu sand Yasho Industries zoomed 20 percent each with a spurt in volumes.

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