Praj, Delta Corp: Trading strategies for 5 overbought NSE smallcap stocks

Outlook on Nifty smallcap stocks: Delta Corp, Eris Life, Praj and Usha Martin can rally up to 28 per cent, while Symphony may witness a corrective move in the near-term; suggests technical charts.

The Nifty SmallCap index has surged nearly 7 per cent so far in June amid the rally in the equity market after Lok Sabha elections voted the Narendra Modi-led alliance for a record third-term at the Centre. In comparison, the NSE benchmark, Nifty 50 index has gained 3.9 per cent in the same period.

Within the SmallCap space, as many as 118 out of the 250 stocks, have outperformed the SmallCap index with gains in excess of 7 per cent so far. Praj Industries with a gain of 31 per cent is the top performer so far