Top 3 interesting small-cap stocks to watch out for on June 21!

The stock market is a thrilling arena where fortunes can change in an instant. And with June 21 just around the corner, it’s time to set your sights on some captivating small-cap stocks that are poised to make waves. But before we dive into these exciting prospects, let’s take a look at the electrifying events that unfolded in the market on Tuesday. 

The NSE benchmark Nifty50 index kicked off the day in the red, as losses began to mount and sent the index spiralling down to an intraday low of 18,660.65. However, just when things seemed bleak, a breathtaking recovery swept across the market, fuelled by a surge in buying activity in IT, Auto, and Metal stocks. The Nifty50 made an astonishing comeback, reclaiming over 150 points from its lows and ending the day above the 18,800 mark. It was a sight to behold, leaving investors on the edge of their seats. 

While the broader market indices outperformed their frontline counterparts, with Nifty Midcap and Smallcap indices advancing by 0.49% and 0.52%, respectively, the overall advance-decline ratio favoured declines. This mixed performance created an intriguing backdrop for smallcap stocks to shine. 

Now, let’s delve into the options market, where an abundance of excitement awaits. Massive additions of over 34 lakh shares were witnessed in the open interest of the 18,800 PE option, while unwinding was observed in the corresponding CE option. Furthermore, a substantial increase in open interest was seen in the 18,700 PE option, making it the strike price with the highest overall open interest on the PE side. This tantalizing information suggests that the zone of 18,700-18,800 is likely to act as a crucial support level in the upcoming trading session. 

With the stage set and anticipation building, let’s turn our attention to the top three small-cap stocks that are poised to steal the spotlight on June 21, 2023: 

1. PSP Projects 

Imagine a stock that skyrocketed over 4% in a single trading session, leaving investors in awe of its explosive potential. PSP Projects is just such a stock, but its allure doesn’t stop there. This small-cap gem experienced a jaw-dropping surge during the second half of the trading session, accompanied by a massive influx of trading volume. The last 75 minutes witnessed a spectacular display of robust price moves, magnified by significant buying pressure. The stage is set for PSP Projects to captivate the market once again, so keep a vigilant eye on this tantalizing stock. 

2. IRCON International

IRCON International is no ordinary stock. Opening at Rs 83.35 and soaring to an intraday high of Rs 87.30, it made a powerful statement. Yet, the true allure lies in the extraordinary volume it generated. Over 2 crore shares changed hands, with more than half of the volume surging in during the final 75 minutes of trading. This harmonious convergence of volume and price action captivated the market’s attention. IRCON International is a stock that beckons to be explored. 

3.Dynamatic Technologies 

Prepare for an exhilarating ascent as Dynamatic Technologies reached a fresh 52-week high of Rs 3,800. With a surge of over 6%, this smallcap marvel showcased remarkable strength. What’s truly intriguing is the captivating price and volume activity witnessed during the final leg of the trade. As the stock soared to new heights, accompanied by a surge in trading volume, market participants were left in awe. Dynamatic Technologies is a stock that shouldn’t be overlooked. 

As always, it’s crucial to conduct thorough research and exercise caution when making investment decisions. 

With the Nifty50 index’s breathtaking recovery, coupled with the support zone of 18,700-18,800 identified in the options market, the stage is set for smallcap stocks to shine brightly. 

Get ready for an enthralling trading session on Wednesday, as you keep a close watch on these three captivating small-cap stocks.