Market Trading Guide: 4 stock picks with strong technical setups for this week
1/5
Bullish Picks
The market outlook remains constructive, with four stocks showing promising technical setups backed by breakouts, improving momentum and supportive moving-average structures. Technical analysis of the following stocks by analysts Himanshu Gupta, Jainam and Nagaraj Shetti of HDFC Securities shows that the stocks are positioned for further upside, with defined support levels and attractive near-term targets offering favourable risk-reward opportunities.
Here are 4 stock recommendations:
Here are 4 stock recommendations:
2/5
Buy Amara Raja Energy & Mobility at Rs 970.50 | Upside: 6-11% | Stop Loss: Rs 935 | Targets: Rs 1,025-1,080
Amara Raja Energy & Mobility has delivered a strong range breakout, moving decisively above the Rs 930–960 resistance band. The stock is trading well above its 50-DMA and 200-DMA, confirming an improvement in the medium- and long-term trend. RSI around 51 remains in the mid-range, indicating room for further upside without an overbought reading. A successful retest of Rs 950–960 as support would further strengthen the breakout structure.
3/5
Buy Kalpataru Projects International at Rs 1,360 | Upside: 5-10% | Stop Loss: Rs 1,315 | Targets: Rs 1,425-1,500
Kalpataru Projects International has broken out of a consolidation zone, with the stock moving above the Rs 1,330–1,350 resistance area. It is trading above its 20-DMA, 50-DMA and 200-DMA, while its shorter-term moving averages have turned bullish. RSI near 52 leaves room for further momentum. A sustained move above Rs 1,365–1,400 could confirm the next leg higher.
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4/5
Buy Sumitomo Chemical India at Rs 555 | Upside: 8% | Stop Loss: Rs 530 | Target: Rs 600
Sumitomo Chemical India has been in a sharp uptrend over the past couple of weeks, forming a series of higher tops and bottoms. The stock is attempting to break above the previous swing-high hurdle in the Rs 550–560 zone. Positive volume and RSI patterns indicate strengthening momentum and a favourable outlook for further upside.
5/5
Buy Mangalore Refinery and Petrochemicals at Rs 180.50 | Upside: 9% | Stop Loss: Rs 172 | Target: Rs 196
Mangalore Refinery and Petrochemicals witnessed a strong breakout after a minor downward correction and sustained above its 200-day EMA. The stock has formed a bullish higher bottom at Rs 161 and is attempting to break out of a multi-week range around Rs 182–183. Rising volumes during the upside move further support the bullish setup.