Top Momentum Stocks Today: Deccan Transcon, Asian Granito, PS Raj Steels Rally Up to 16%

Indian stock markets witnessed selective buying on July 24, with several mid-cap and small-cap stocks outperforming despite the absence of major market triggers. Stocks including Deccan Transcon Leasing, Asian Granito India, and P S Raj Steels attracted strong investor interest after witnessing technical breakouts and trading above key moving averages, signalling improving momentum.

On the other hand, selling pressure remained visible in select counters such as Swiggy, TECHLABS, and Chembond Material Technologies, while Indosolar, United Foodbrands, and Ramco Systems hit their lower circuits. Several large-cap and mid-cap stocks, including Reliance Industries, Tata Elxsi, IRFC, Go Digit, UTI AMC, and Jubilant FoodWorks, also touched fresh 52-week lows.

Top Gainers on Strong Technical Momentum

The following stocks witnessed strong buying interest and traded above important moving averages, indicating a positive short term trend.

Stock	Gain	Technical View
Deccan Transcon Leasing	+16%	Above 30, 50 & 150-day SMA; below 200-day SMA
Asian Granito India	+7%	Above 30 & 50-day SMA; below 150 & 200-day SMA
P S Raj Steels	+4.6%	Above all major moving averages (30, 50, 150 & 200-day SMA)

Stock-wise Analysis

Deccan Transcon Leasing Jumps Nearly 16%

Deccan Transcon Leasing surged nearly 16% to ₹25.90, making it one of the top gainers of the session. The stock traded above its 30-day, 50-day, and 150-day Simple Moving Averages (SMAs), indicating improving short- to medium-term momentum. However, it remains slightly below its 200-day SMA, suggesting that a long-term trend reversal is still pending.

Asian Granito India Extends Rally

Asian Granito India gained more than 7% to ₹56.24. The stock traded above its 30-day and 50-day SMAs, reflecting renewed buying interest. While the near-term trend has turned positive, it continues to trade below its 150-day and 200-day SMAs, indicating that the long-term trend has yet to strengthen.

P S Raj Steels Maintains Strong Bullish Trend

P S Raj Steels advanced 4.6% to ₹86.30, supported by strong technical indicators. The stock traded comfortably above its 30-day, 50-day, 150-day, and 200-day SMAs, highlighting sustained bullish momentum across both short- and long-term timeframes.

Stocks Under Selling Pressure

Several stocks continued to witness weakness as they slipped below key moving averages, signalling a bearish trend.

Stock	Decline	Technical View
Swiggy	-5.5%	Below 30, 50, 150 & 200-day SMA
TECHLABS	-4.8%	Trading below all key moving averages
Chembond Material Technologies	-4.2%	Below 30 & 50-day SMA; above 150 & 200-day SMA

Swiggy Remains Weak

Swiggy declined 5.5% to ₹243.46, trading below all major moving averages, indicating continued weakness in both short-term and long-term trends.

TECHLABS Faces Continued Selling

TECHLABS dropped 4.8% to ₹123.70, remaining below its 30-day, 50-day, 150-day, and 200-day SMAs, reflecting sustained bearish momentum.

Chembond Material Technologies Sees Near-Term Weakness

Chembond Material Technologies fell 4.2% to ₹171.25. While the stock slipped below its short-term moving averages, it continued to trade above its 150-day and 200-day SMAs, suggesting that the longer-term trend remains relatively intact.

Stocks That Hit Fresh 52-Week Lows

Several companies touched new one year lows during the session amid persistent selling pressure.

Stocks at 52-Week Low
Go Digit
UTI AMC
JSW Holdings
Reliance Industries
Cello World
IRFC
Jubilant FoodWorks
Gujarat Energy
Tata Elxsi

Stocks Locked in Lower Circuit

The following stocks hit their lower circuit limits during the trading session, indicating strong bearish sentiment:

• Indosolar
• United Foodbrands
• Ramco Systems

Market Outlook

The broader market remained range-bound, but selective buying continued in technically strong stocks. Investors are closely monitoring momentum indicators, moving averages, and sector-specific developments for further trading opportunities. While momentum stocks continue to attract buying interest, several counters remain under pressure due to weak technical setups and profit booking.

Which stocks gained the most on July 24?

Deccan Transcon Leasing rose nearly 16%, followed by Asian Granito India and P S Raj Steels.

Why did these stocks rally?

The stocks witnessed strong buying interest after trading above key moving averages, indicating positive technical momentum.

Which stocks were under selling pressure?

Swiggy, TECHLABS, and Chembond Material Technologies remained weak as they traded below important moving averages.

Which stocks hit fresh 52-week lows?

Reliance Industries, Tata Elxsi, IRFC, Go Digit, UTI AMC, JSW Holdings, Cello World, Jubilant FoodWorks, and Gujarat Energy touched new one-year lows.