With the Indian stock market continuing to navigate a volatile trading environment, investors are likely to track stocks showing improving technical setups and signs of strengthening momentum. Against this backdrop, Sumeet Bagadia, Executive Director at Choice Broking, has identified five stocks—Kaynes Technology, Great Eastern Shipping Company, NTPC Green Energy, Eternal, and Aavas Financiers—with specific levels to watch.
1] Kaynes Technology: Buy at ₹3650, stop loss at ₹3475 and target ₹4000
Kaynes Technology is showing a constructive technical setup on the daily chart, with the stock breaking above the 21-day EMA, followed by a breakout above the previous week’s high, indicating improving price momentum and strengthening buying interest. The sequential breakouts suggest a positive shift in the short-term technical structure.
Momentum has also improved, with the RSI rebounding from oversold territory and currently sustaining around the 53 mark, reflecting recovery in underlying strength. With the stop-loss placed at 3,475, the setup remains constructive above this level. Sustained price action above the breakout zone supports further upside momentum, with 4,000 emerging as the potential target.
2] Great Eastern Shipping Company: Buy at ₹1487, stop loss at ₹1413 and target ₹1630
The daily price action in GESHIP has turned favorable after the stock convincingly breached its downward trend line. The breakout is accompanied by rising volumes, indicating increased market participation and lending strength to the move.
Momentum has also improved, with the RSI sustaining above the 60 mark, reflecting strengthening underlying momentum and scope for further upside. The Fixed Range Volume Profile provides additional confirmation, as the stock is trading above the Point of Control (POC) of the previous range, suggesting a favorable shift in the volume-backed price structure. With 1,413 as the key risk level, sustained strength above the breakout zone could support an upward move towards 1,630.
3] NTPC Green Energy: Buy at ₹91.30, stop loss at ₹87 and target ₹100
NTPCGREEN has entered a potential bullish reversal phase after breaking out from a falling wedge formation, signalling a shift in the prevailing price structure. The breakout gains further technical significance as the stock has sustained above the 21-day EMA, followed by a move beyond the pattern boundary, indicating improving buying interest.
The combination of the reversal pattern breakout and EMA support points towards strengthening short-term momentum. From a risk-management perspective, 87 remains the key level to monitor, as sustained trading above this zone would keep the setup intact. If the positive momentum continues, the stock could potentially advance towards the 100 target.
4] Eternal: Buy at ₹335, stop loss at ₹318 and target ₹370
ETERNAL has delivered a notable price breakout above its recent resistance, supported by strong volume, signalling renewed buying participation and improving price traction. The stock continues to maintain a favorable higher-high and higher-low structure, indicating that the broader short-term trend remains positive. Momentum is also reinforcing the breakout, with the RSI sustaining above the 60 mark, reflecting healthy buying strength and keeping the bullish bias intact.
The combination of price expansion, volume confirmation and a supportive market structure provides a favorable technical backdrop. With 318 placed as the key risk level, sustained trading above the breakout zone could keep the stock positioned for an upward move towards the 370 target.
5] Aavas Financiers: Buy at ₹1322, stop loss at ₹1262 and target ₹1440
AAVAS is witnessing a strong technical improvement on the daily chart, with multiple breakout signals emerging together. The stock has decisively moved above its downward trend line and subsequently cleared a sideways consolidation range, indicating a potential shift from range-bound action towards a stronger directional move.
Price is also sustaining above both the 21-day and 9-day EMAs, providing additional confirmation of improving short-term trend strength and buying interest. The combination of these breakouts with EMA support provides a constructive technical backdrop. With 1,262 placed as the key risk level, sustained strength above the breakout zone could keep the momentum intact and open the path towards 1,440.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
