In a market short on fresh triggers, several stocks quietly grabbed attention on July 2, driven by technical breakouts, strong price action, and sustained buying interest.
The selected stocks are showing strong upward momentum, trading well above their key short- to medium-term moving averages, which indicates a positive trend in the near term.
NewMalayalam Steel surged nearly 10 percent to ₹26.50, trading above its 30-day (₹24.10) and 50-day (₹23.45) simple moving averages (SMAs). However, the stock remained below its 150-day (₹27.47) and 200-day (₹28.24) SMAs, suggesting that while near-term momentum has strengthened, the long-term trend is yet to turn positive.
IFGL Refractories gained 8.32 percent to ₹199.75. The stock traded above its 30-day (₹184.40), 50-day (₹183.13) and 150-day (₹182.49) SMAs, reflecting broad-based technical strength. It was, however, marginally below its 200-day SMA of ₹200.14, indicating resistance near long-term trend levels.
Commercial Syn Bags rose 5.58 percent to ₹168.61, trading comfortably above all its key moving averages—30-day (₹159.70), 50-day (₹157.46), 150-day (₹155.48) and 200-day (₹154.84). The stock's position above all major SMAs signals sustained bullish momentum and a strong underlying trend.
The selected stocks are witnessing downward pressure, as reflected in negative price movements and their positioning relative to key moving averages, indicating a cautious market sentiment.
DCM Shriram Fine Chemicals declined 4.51 percent to ₹23.50, trading below its 30-day SMA of ₹24.61 and 50-day SMA of ₹25.53. The stock's weakness below these key averages points to negative near-term momentum.
Archidply Decor fell 3.79 percent to ₹69.60, slipping below all its major moving averages, including the 30-day (₹72.34), 50-day (₹73.29), 150-day (₹72.76) and 200-day (₹76.00) SMAs. Trading below all key averages suggests sustained selling pressure and a weak long-term technical outlook.
SAB Events & Governance Now Media dropped 3.27 percent to ₹7.98, remaining below its 30-day (₹8.25), 50-day (₹9.49), 150-day (₹9.84) and 200-day (₹8.94) SMAs. The stock's position below all major moving averages indicates persistent bearish sentiment and continued technical weakness.
Meanwhile, several stocks scaled fresh 52-week highs, underscoring sustained buying interest despite mixed broader market cues. Notable names hitting new one-year highs included Cemindia Projects, Oracle Financial Services Software, Sona BLW Precision Forgings, Aegis Logistics, Inventurus Knowledge Solutions, Krishna Institute of Medical Sciences (KIMS), Acutaas Chemicals, Adani Enterprises, Nippon Life India Asset Management, Marico, Delhivery, Federal Bank, CG Power & Industrial Solutions, Zydus Wellness, and Piramal Finance.
Separately, Waterways Leisure Tourism, Vedanta Iron and Steel, Websol Energy System, Veljan Denison among others were locked in their upper circuits, reflecting strong buying demand and limited seller participation — a sign of bullish near-term sentiment.