Top 3 interesting small-cap stocks to watch out for on June 22

Wednesday witnessed a gripping turn of events as the benchmark indices, Sensex and Nifty, edged higher, guided by the soaring performance of the HDFC Twins. While the frontline indices showcased their resilience, sectoral indices experienced a mix of triumph and defeat. Notably, Nifty Energy and Nifty Financial Service emerged as winners, while Nifty Metal and Nifty FMCG faced setbacks. However, the broader markets displayed a bullish stance, with Nifty Midcap and Smallcap indices showcasing their strength.

The market’s momentum was undoubtedly captivating, but the intriguing tale lies in the options data, where an astonishing revelation unfolded. The 18,800 strike of the PE option experienced massive additions, accumulating over 50 lakh shares. With this surge in open interest, the 18,800 level is poised to play a pivotal role as a significant support level in the upcoming trading session. The stage is set for an exhilarating showdown.

Amidst this electrifying atmosphere, three small-cap stocks are expected to emerge as the darlings of June 22, 2023, captivating investors with their promising prospects: 

1.  Ambika Cotton Mills: Like a shooting star, Ambika Cotton Mills ascended to great heights, skyrocketing nearly 9% on Wednesday. The stock mesmerized the market with its exceptional performance, as its total traded volume exceeded 1 lakh shares—five times more than its 20-day average volume. Remarkably, in the final leg of the trade, the stock recorded an astounding one-third of its total volume, leaving investors captivated. Ambika Cotton Mills has become an undeniable force in the market, demanding attention and consideration from astute investors.

2. Astra Microwave Products: Astra Microwave Products unleashed its power, surging nearly 6% and establishing a fresh 52-week high. The stock’s incredible journey was amplified by its extraordinary trading volume, with nearly 24 lakh shares changing hands—four times higher than its 20-day average volume. The true spectacle, however, occurred in the last 75 minutes of trading, where strong buying interest pushed the stock to new heights. This captivating performance puts Astra Microwave Products in the spotlight, beckoning investors to closely monitor its future trajectory.

3. Tips Industries: In a dazzling display of strength, Tips Industries surged over 6% on Wednesday, leaving a trail of awe in its wake. Setting a new 52-week high, this stock revealed its true potential. What made this surge even more fascinating was the substantial increase in trading volume witnessed in the final moments of the trade. Investors, be prepared to add Tips Industries to your radar as this stock shows no signs of slowing down.

As the market continues its thrilling journey, these three small-cap stocks have set the stage for an exciting spectacle on June 22, 2023.