Technical picks for Diwali! 10 stocks PL Capital is bullish on this festive season. See full list
Samvat 2082 proved challenging for Indian equities, marked by heightened volatility, intermittent recoveries and a significant correction in benchmark indices. Over the next 12 months, the sustainability and breadth of corporate earnings growth are likely to be the key drivers of equity market returns. Here are 10 stocks that look strong on charts.
2/11
The brokerage has pegged the target price in the range of Rs 860-960 and a stoploss of Rs 570. The stock has been in consolidation for quite some time, sustaining above the important 200EMA at the Rs 623 level on the weekly chart & forming a higher bottom formation along with the VCP pattern in the daily chart. Currently having positive candle formation with volume participation to improve the bias, anticipating a further rise in the coming days. The RSI is well placed, and with a positive trend reversal indication and much upside potential visible, it can carry on with the positive move further ahead.
3/11
Apollo Hospitals
The brokerage has pegged the target price in the range of Rs 9,800-10,400 and a stoploss of Rs 7,000. The stock has recently witnessed a significant erosion from the Rs 9,050 zone and has shown signs of bottoming out near the Rs 7,500 level, with a significant revival visible to improve the outlook and expect a further upward move in the coming days. The RSI has corrected well and is currently well positioned near the oversold zone, with an indication of a positive trend reversal to signal a buy, with much upside potential visible and can carry on with the positive move further ahead.
ANI
4/11
GE Vernova T&D India
The brokerage has pegged the target price in the range of Rs 5,100-5,450 and a stoploss of Rs 3,400. The stock after a good consolidation near the Rs 4,200 zone has recently slipped and has hit the low near Rs 3,550 zone thereafter, with a significant revival with volume participation visible has once again improved the outlook anticipating to carry on with the positive move further ahead in the coming days. The RSI has arrived near the oversold zone and has indicated a positive trend reversal to signal a buy, and with much upside potential visible, it can gain significantly.
ETMarkets.com
5/11
HBL Engineering
The brokerage has pegged the target price in the range of Rs 1,000-1,080 and a stoploss of Rs 670. The stock has witnessed a significant revival from the Rs 650 zone, and with a higher low formation on the daily chart, has improved the bias, sustaining above the confluence of 50EMA and 200-period MA at the Rs 750 zone. With bullish candle formation, one can anticipate a further upward move in the coming days. The RSI is well placed with upside potential visible, and can carry on with the positive move further ahead.
ETMarkets.com
6/11
Jindal Steel
The brokerage has pegged the target price in the range of Rs 1,200-1,360 and a stoploss of Rs 355. The stock has recently witnessed a significant correction and has taken support near the previous low made at the Rs 1,000 zone, forming a triple bottom pattern on the daily chart, currently indicating a consolidation to improve the bias, expecting a further rise in the coming sessions. The RSI has corrected well and has indicated a positive trend reversal from the oversold zone.
Agencies
7/11
Marine Electricals
The brokerage has pegged the target price in the range of Rs 520-560 and a stoploss of Rs 900. The stock has recently indicated a strong breakout above the Rs 300 zone and has maintained the uptrend with currently having a higher low formation pattern on the daily chart has indicated a decent revival moving past the important 50EMA at Rs 405 level to once again improve the outlook and can anticipate for further rise in the coming days. The RSI has cooled off from the overbought zone and is currently well placed with a positive trend.
Agencies
8/11
Shilpa Medicare
The brokerage has pegged the target price in the range of Rs 1,230-1,335 and a stoploss of Rs 765. The stock has indicated a strong uptrend in the last 7-8 months, recently witnessing a short period of correction, taking support near the Rs 820 zone and with a decent revival visible, has once again improved the outlook to anticipate another fresh round of upward move in the coming days.
ANI
9/11
Syrma SGS Tech
The brokerage has pegged the target price in the range of Rs 1,970-2,120 and a stoploss of Rs 1,290. The stock has overall maintained a strong uptrend with a series of higher low formations visible on the daily chart, and currently, after the short period of correction has taken support near the previous low of the Rs 1,390 zone and has indicated a decent revival to improve the outlook and can anticipate for another fresh round of upward move in the coming days to carry on with the positive move further ahead.
ETMarkets.com
10/11
TD Power Systems
The brokerage has pegged the target price in the range of Rs 870-940 and a stoploss of Rs 580. The stock has witnessed a significant run-up in the last one year, with a series of higher-low formation patterns visible on the daily chart, maintaining the strong uptrend. It has recently witnessed a short period of correction, has taken support near the Rs 620 zone and has indicated a decent revival to move above the resistance hurdle of the Rs 680 level to improve the outlook technically, and once again can anticipate another fresh round of upward move in the coming days.
ETMarkets.com
11/11
TARIL
The brokerage has pegged the target price in the range of Rs 385-440 and a stoploss of Rs 260. The stock has recently indicated a strong move from the strong support zone of 265 level and has resisted near the Rs 360 zone with some correction witnessed, with currently taking support near the confluence of 50EMA and 200-period MA at Rs 300 zone has indicated a bullish candle formation to improve the outlook once again anticipating for another fresh round of upward move in the coming days.