SpiceJet, MOIL: 5 buzzing stocks that may gain up to 19% in short-term

Among the most buzzing stocks, Spicejet surged 18 per cent. MOIL soared close to 9 per cent, while eClerx Services, Brigade Enterprises and Rossari Biotech were trading with 5-6 per cent gains

After a near 9 per cent surge in July and a positive start to the new month, the key benchmark indices were witnessing some profit-taking in the intra-day trades on Wednesday, with auto, FMCG and financial shares as the major draggers.

However, despite the overall softness, select stocks were buzzing in trades and attracted keen market interest.
 

Among the most buzzing stocks, shares of Spicejet surged over 18 per cent amid reports taht the company's promoter Ajay Singh is exploring possibility of a partial stake sale in the company. READ MORE

Meanwhile, MOIL soared close to 9 per cent, while eClerx Services, Brigade Enterprises and Rossari Biotech traded with 5-6 per cent gains.
 

Here's the technical outlook on buzzing stocks of the day:-

SpiceJet Ltd (SPICEJET)

Likely target: Rs 55 and Rs 59

Upside potential: 11% to 19%

In the last four trading sessions, shares of SpiceJet gained 30 per cent, the most in recent years. The up move pushed the Moving Average Convergence Divergence (MACD) over the zero-line, for the first time in this year. The next barrier is at Rs 55 and Rs 59, while support exists at Rs 45 and Rs 42 levels. CLICK HERE FOR THE CHART

eClerx Services Ltd (ECLERX)

Likely target: Rs 2,800

Upside potential: 15%

Shares of eClerx Services have crossed the 200-day moving average (DMA), situated at Rs 2,275. It it succeeds to hold the wagon over the same, the positive bias could fetch an upside to Rs 2,800 level, shows the daily chart. There is a formation of "Inverse Head and Shoulder" and sustainability over 200-DMA would add upward momentum to the ascending stock price. CLICK HERE FOR THE CHART

MOIL Ltd (MOIL)

Likely target: Rs 200

Upside potential: 16%

MOIL stock is prepared to rally in the direction of Rs 200, which has been the barrier since April 2022. The stock negated 200-DMA - "Death Cross", flashed by the up move over the average with strong volumes, thus indicating further upside towards the Rs 200 level. Now, unless the stock falls under Rs 164, its 200-DMA, the medium-term outlook shall continue to remain upward. CLICK HERE FOR THE CHART

Brigade Enterprises Ltd (BRIGADE)

Likely target: Rs 565

Upside potential: 11%

After strongly holding the 200-DMA, the stock is pointing at a breakout scenario. The 200-DMA is placed at Rs 472 level. And the momentum is exhibiting a rally towards new historic peak of Rs 565. CLICK HERE FOR THE CHART

Rossari Biotech Ltd (ROSSARI)

Likely target: Rs 1,076

Upside potential: 13%

The "Inverse Head and Shoulder" breakout on the daily chart signals a rally to Rs 1,076-mark, which is its 200-DMA. Immediate support for the stock is seen at Rs 890 and Rs 860 levels. The MACD has moved over the zero-line suggesting a positive up move. CLICK HERE FOR THE CHART