Momentumisers: Strides Pharma Science in focus; here’s why

Yesterday, December 13, when the markets were falling apart one stock that did stand out was Strides Pharma Science.

The stock has been a bit of an underperformer because the pharma index is only 10 percent away from its 52-week highs, but Strides, it's halved from its 52 weeks high even after the big up move yesterday.

In the last couple of days, the average volumes were very high. The last two days average is nearly 35 lakh shares; normally, around 10-12 lakh shares trade on a daily basis, and not just that, even the delivery volumes were much higher, nearly 3-4 times than normal. So both traded volumes, as well as delivery volumes 3-4 times higher than what we have seen in the previous 10 trading sessions suggests that maybe there is some kind of selling exhaustion that could have taken place yesterday, purely going by the delivery data.

In terms of technical levels, yesterday the stock ended at around the 20 DMA. So let's see, whether or not, it can build on from here and move towards 50 and around 100 DMA.

Watch the accompanying video of CNBC-TV18’s Nigel Dsouza for more details.