New buy signal generated in these 4 F&0 scrips as per RMI scanner

Nifty managed to close higher by 0.9 percent on the last trading day of an eventful month where we saw India VIX slipping from the levels of 16 to 12, a 21 percent drop in the volatility.

Aggressive long positions were built in Piramal Enterprises, Abbott India, Torrent Pharmaceuticals, Tata Consumer Products and Colgate Palmolive on the monthly expiry day i.e 28 March.

New buy signal on daily timeframe was generated according to the RMI scanner in some of the F&O counters. The Rohit Momentum Indicator (RMI) generates buy and sell signals. It is a non-range bound indicator.

Here is the list:

F&O scrips with ‘New Buy’ signal

Ambuja Cements : Ambuja Cements share are up by more than 1 percent in one month. On YTD basis, Ambuja Cements shares have gained by more than 14 percent thus outperforming the markets. At CMP of Rs 613, Ambuja cement shares are trading within 1 percent range of its all–time high levels. Shares of Ambuja Cements are trading above their 10 days SMA and 20 days SMA indicating near-term bullishness.

Also read: Indicator flashes ‘buy’ on 33% Nifty smallcaps as bulls return to broader markets

Godrej Consumer Products: Godrej Consumer Products shares are trading above their 10 days SMA and 20 days SMA indicating near term bullishness. Godrej Consumer Products shares are up by more than 9 percent on YTD basis while in past one month the shares of Godrej Consumer Products have been flat.

JK Cement: JK Cement shares are up by 7.28 percent on YTD basis while in March shares of JK cement tumbled by more than 9 percent. JK Cement shares recorded the worst monthly performance in FY24 in march, after the shares crashed from its all-time high levels of Rs 4575 per share. At CMP JK Cement shares are trading above their 10 days SMA.

L&T : L&T shares gained by more than 8 percent in the past one month while on YTD basis the shares of LT are up by more than nearly 7 percent. In the past one year, L&T shares have strengthened by more than 75 percent. L&T shares are trading above their respective 10 days SMA and 20 days SMA indicating near term bullishness.

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