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3 Small caps That had an 'Action-Packed' Week!

Published 06-01-2023, 04:58 pm
NIFSMCP100
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SYMP
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PRCM
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LANM
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The first week of 2023 didn’t end on a good note for the bulls with the benchmark Nifty 50 index clocking a 1.32% weekly loss (provisional) as it shed around 240 points in the first 5 sessions. Despite being much more volatile, the Nifty Smallcap 100 index lost only 0.77% in the same period as investors fled toward riskier pockets.

Among the small-cap space, some stocks had a stellar start to the new year with their massive weekly gains and breakouts. Here’s a list of 3 such counters. 

Note: All the weekly gains mentioned below are on a provisional basis.

Symphony Limited

The first name on the list is Symphony Ltd (NS:SYMP) which is a well-known air cooler manufacturer in India with a market capitalization of INR 6,563 crores. This stock was also analyzed on the first day of the week when it was trading near INR 929, prior to the breakout level of INR 950.

Weekly chart of Symphony

Image Description: Weekly chart of Symphony

Image Source: Investing.com

By the week’s end, the stock surged 6.75% to INR 967.15 and comfortably closed above the hurdle, making the chart structure quite bullish from here. The volume on Friday soared to 155.3K shares which is the highest one-day volume since 20 October 2022, making the breakout even more reliable. I am reiterating, the four-digit mark would be the first stop for the ongoing rally.

Precision Camshafts Limited

Precision Camshafts Ltd (NS:PRCM) is a lesser-known stock with a market capitalization of INR 1,100 crores and it is an auto parts manufacturer. The stock ended the last year on a good note, delivering 7.89% in the last week of December 2022 and continued its run this week as well, clocking a weekly return of around 14.88%.

Weekly chart of Precision Camshafts

 

Image Description: Weekly chart of Precision Camshafts

Image Source: Investing.com

This week’s volume is also impressive, at 3.59 million shares, which is the highest in over a year. It also broke and closed above the falling trendline resistance which is indicating an impending uptrend, hence it should be on the radar of the bulls.

Landmark Cars Limited

The last name on the list is a very recent IPO, Landmark Cars Ltd (NS:LANM) which debuted on the Indian bourses in December 2022. The company is in the car retailing and servicing business, having dealerships of brands such as Mercedes Benz, Jeep, etc., with a market capitalization of INR 2,092 crores.

Weekly chart of Landmark Cars

Image Description: Weekly chart of Landmark Cars

Image Source: Investing.com

The stock has been going all guns blazing since its listing and this week ended with a gain of 19.42% and the weekly volume was recorded at 3.77 million shares, the highest so far. With only three weeks of trading, it is difficult to analyze the stock on technical grounds, however, a retracement to INR 480 might be a good level for the left-out investors to participate in the rally. 

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