Momentum Stocks Reach 52-Week Highs: Elgi Equipments, Wockhardt, Triveni Turbine, Adani Total Gas

Market Spotlight Shifts to Quietly Performing Stocks

On May 29, the market saw several stocks gain attention without major news triggers, driven by technical breakouts and sustained buying momentum. The selected stocks are showing strong upward momentum, trading above their key short- to medium-term moving averages, indicating a positive trend in the near term.

One stock that gained significant attention was Tribhovandas Bhimji Zaveri, which rose by 14.49 percent to Rs 163.34. The stock is trading above its 30-day SMA of Rs 142.67, 50-day SMA of Rs 137.61, and 150-day SMA of Rs 157.23, indicating strong short- to medium-term momentum. However, it is still slightly below its 200-day SMA of Rs 165.16, suggesting that the long-term trend is yet to turn decisively positive.

Ind-Swift Laboratories also surged 12.66 percent to Rs 154.97, comfortably trading above all its major moving averages. This reflects strong bullish sentiment and sustained buying interest across short-, medium-, and long-term time frames.

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Other notable gainers included Vigor Plast India, which climbed 12.39 percent to Rs 65.40, and Aatmaj Healthcare, which declined 5.30 percent to Rs 19.10. All E Technologies fell 4.77 percent to Rs 154.85, and Arunaya Organics slipped 4.73 percent to Rs 21.55.

A few stocks saw sharp intraday moves and hit upper circuits, including Hitech Corporation, Venus Remedies, and Aditya Infotech, reflecting strong demand and limited supply. This is often a sign of bullish near-term sentiment.

Meanwhile, a broad set of stocks scaled fresh 52-week highs, underscoring resilient underlying demand despite the absence of major news catalysts. Notable gainers included Elgi Equipments, Wockhardt, Triveni Turbine, Siemens Energy, Ather Energy, Adani Total Gas, Zydus Life, JSW Energy, Vodafone Idea, Granules India, Kirloskar Oil, Adani Green, Polycab, Laurus Labs, Cummins, Adani Power, and Hindalco.