Momentum Stocks: Onward Technologies, TBZ locked in lower circuits; Allied Blenders sheds 4%

Piramal Pharma shares are trading at Rs 222.40, up 10.46%, and are above all four major moving averages, with the 30-day SMA at Rs 201.34, 50-day at Rs 206.26, 150-day at Rs 181.71 and 200-day at Rs 176.15, indicating strong price momentum. Capital India shares are trading at Rs 21.90, up 10.05%, and are above their 30-day and 50-day SMAs of Rs 19.90 and Rs 20.13, respectively, but below their 150-day and 200-day SMAs of Rs 22.99 and Rs 25.12.

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. Urban Enviro Waste Management shares fell 8.95% to Rs 112.50 and are trading below all four major moving averages: the 30-day SMA at Rs 123.56, 50-day at Rs 127.94, 150-day at Rs 133.34 and 200-day at Rs 135.17, indicating weak price momentum.

Allied Blenders and Distillers shares declined 3.81% to Rs 666.15 and are trading below their 30-day SMA of Rs 692.50, but remain above their 50-day, 150-day and 200-day SMAs of Rs 658.61, Rs 599.52 and Rs 571.50, respectively. Blue Water Logistics shares fell 2.84% to Rs 509.05 and are trading below their 30-day SMA of Rs 523.95, but remain above their 50-day, 150-day and 200-day SMAs of Rs 495.58, Rs 361.15 and Rs 307.11, respectively

Several stocks touched fresh 52-week low, highlighting persistent selling pressure in the market. Notable names that hit new low included AWL Agri Business, Dalmia Bharat, Waaree Energies, Latent View Analytics, Nestle India, Britannia Industries, HDFC Life Insurance, Mahindra & Mahindra Financial Services, Godrej Consumer Products, HDFC Bank, Colgate-Palmolive India, SBI Cards and Payment Services, JK Lakshmi Cement, Afcons Infrastructure, The Ramco Cements, Finolex Industries, EID Parry, Bharat Dynamics, HUDCO and Mazagon Dock Shipbuilders.

Onward Technologies, Rhetan TMT, Tribhovandas Bhimji Zaveri, among others were locked in their lower circuits, reflecting strong selling and signalling bearish near-term sentiment.