Top 3 interesting small-cap stocks to watch out for on June 23, 2023

The NSE benchmark Nifty50 index experienced a slight setback after a two-day winning streak, with the index settling down by nearly 0.50% below the 18,800 mark. Despite the support provided by the HDFC Twins, other heavyweights like Reliance Industries and Infosys dragged the index lower, resulting in a dip. 

Among the sectoral indices, only Nifty Metal and Media managed to end almost flat, while all other sectoral indices closed in the red. Nifty PSU Bank, in particular, suffered a loss of over 1.5%. The broader markets also witnessed a sharp sell-off, with Nifty Midcap and Smallcap declining by 1.06% and 0.76%, respectively. Furthermore, the declining stocks outnumbered the advancing stocks by almost three times, highlighting the bearish sentiment in the market. 

However, amidst this rout, there are a few stocks that have shown promising signs and could potentially emerge as winning stocks on June 23, 2023. These stocks deserve attention from market participants who are seeking opportunities for potential gains. 

1. Asian Granito India: This stock outperformed on Thursday, displaying a 2% advance. Notably, it garnered significant buying interest during the last leg of the trading session, catching the attention of market participants. Additionally, the stock has been trading within a range since the last week of May, suggesting a possible range breakout soon. Therefore, it is advisable to keep an eye on this stock. 
2. Century Enka: Opening at a level of Rs 420, this stock displayed an interesting trading pattern. The opening level of the day also served as the intraday low, and throughout the day, the stock made several attempts to breach this level. However, the buying activity intensified in the last 75 minutes of the trading session, evident from the rise in both price and volume. As a result, it is worth adding this stock to the watchlist.

3. De Nora India: On Thursday, this stock witnessed a remarkable surge of over 5% accompanied by significant trading volume. The majority of the volume and price activity occurred during the final leg of the trade, with nearly 70% of the volume recorded at that time. Given this substantial movement, it is advisable to closely monitor this stock for potential future developments.

These stocks have exhibited notable characteristics and movements, indicating potential opportunities for traders and investors. However, it is important to conduct thorough research, analyse market trends, and consider individual risk appetites before making any investment decisions.

Disclaimer: This blog is exclusively for educational purposes. The securities quoted are exemplary and are not recommendatory.