The penny stock space is quite a risky one and often requires high skills and sufficient capital. Therefore, traders with a conservative approach to the market or who are new to the game should steer clear from dealing in penny stocks. With that being said, those much skilled can look at the share price of the below-mentioned stocks if they are hunting for some long opportunities.
Take Solutions Limited
Take Solutions Ltd (NS:TAKE) is a small-cap IT company with a market capitalization of a mere INR 256 crores and without much of a surprise, it is a loss-making company so there isn’t much to talk about the fundamentals here. However, the stock is looking poised for a reversal on the daily chart and therefore the analysis is solely from the technical standpoint.
Image Description: Daily chart of Take Solutions with volume bars at the bottom
Image Source: Investing.com
The stock is in a short-term uptrend as can be seen via the formation of higher highs and higher lows on the daily time frame. After a brief consolidation for the last couple of weeks, amid a downtrend, the stock is showing signs of a resumption of the uptrend. It gained 2.02% to INR 17.7 and closed at the higher end of the range. The best part is the high risk-to-reward ratio. A stop loss can be placed below INR 17 (on a closing basis), and in return, the upside can be as high as INR 19.5.
Yaari Digital Integrated Services Limited
Yaarii Digital Integrated Services Ltd (NS:YAAR), formerly Indiabulls Integrated Services Limited, is a fintech marketplace for a bouquet of various financial products, having a market capitalization of only INR 105 crores. After 3 consecutive loss-making years, the company turned profitable in FY23, with a net income of INR 94.85 crores.
Image Description: Daily chart of Yaari Digital Integrated Services with volume bars at the bottom
Image Source: Investing.com
After a sharp decline in the last few weeks, the stock finally reversed its course with a 10% upper circuit to INR 11.75, closing at the highest level since 19 May 2023. The stock holds the potential to rally to INR 15 in the immediate future and to capitalize on the upside move, a stop loss order can be placed below INR 10.15.
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