Momentum Stocks: Kalyan Jewellers, Sterlite Technologies, Usha Financial see negative breakdowns

In a market short on fresh triggers, several stocks quietly grabbed attention on July 7, 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.

India Tourism Development Corporation (ITDC) surged over 10 percent to Rs 646.35, trading well above all its key moving averages. The stock was above its 30-day SMA of Rs 586.93, 50-day SMA of Rs 582.32, 150-day SMA of Rs 547.36, and 200-day SMA of Rs 563.49, indicating strong bullish momentum across short-, medium-, and long-term trends.

Welspun Investments & Commercials gained more than 4 percent to Rs 1,874.50, remaining comfortably above its 30-day SMA (Rs 1,797.62), 50-day SMA (Rs 1,730.93), 150-day SMA (Rs 1,440.75), and 200-day SMA (Rs 1,356.19). Trading above all major moving averages signals sustained buying interest and a positive technical outlook.

Peninsula Land advanced nearly 4 percent to Rs 16.43. The stock traded above its 30-day SMA of Rs 15.84 and was almost in line with its 50-day SMA of Rs 16.40, but remained below its 150-day SMA of Rs 19.69 and 200-day SMA of Rs 23.19. This suggests improving short-term momentum, although the longer-term trend remains weak.

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.

Usha Financial Services declined nearly 5 percent to Rs 32.00, trading below its 30-day SMA of Rs 33.60, 50-day SMA of Rs 33.20, 150-day SMA of Rs 34.83, and 200-day SMA of Rs 37.36. The stock's position below all major moving averages indicates persistent selling pressure and a weak technical setup.

Sterlite Technologies fell over 4.5 percent to Rs 558.00. While the stock remained below its 30-day SMA of Rs 585.07, it continued to trade well above its 50-day SMA of Rs 493.02, 150-day SMA of Rs 260.23, and 200-day SMA of Rs 224.65. This suggests near-term weakness, although the broader medium- and long-term trend remains positive.

Kalyan Jewellers India dropped 3.61 percent to Rs 353.40, slipping below all its major moving averages. The stock traded below its 30-day SMA of Rs 366.64, 50-day SMA of Rs 374.87, 150-day SMA of Rs 414.30, and 200-day SMA of Rs 434.37, reflecting continued bearish momentum across short-, medium-, and long-term timeframes.

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, Titan Company, Gland Pharma, Granules India, Zydus Lifesciences, GMR Airports, JB Chemicals & Pharmaceuticals, Torrent Pharmaceuticals, Cholamandalam Investment & Finance, IndusInd Bank, Lupin, Radico Khaitan, Adani Energy Solutions, Phoenix Mills, Delhivery, Schneider Electric Infrastructure, Grasim Industries, Apollo Hospitals Enterprise, L&T Finance and Capri Global Capital.

Separately, SIGMA ADVANCED SYSTEMS, Cemindia Projects, Gradiente Infotainment among others were locked in their upper circuits, reflecting strong buying demand and limited seller participation — a sign of bullish near-term sentiment.