Blue Star, Natco Pharma Among Under-The-Radar Stocks With Upside Potential: SEBI RA Mayank Singh Chandel

Some stocks in the Nifty 500 have shown early signs of momentum, but they are still flying under the radar with weekly relative strength index (RSI) below 70. SEBI-registered analyst Mayank Singh Chandel believes that these upward moves may just be beginning, rather than nearing exhaustion.

Barring Natco Pharma, the retail sentiment is ‘bullish’ on the rest of the counters on Stocktwits. 

Let’s take a look at the four stocks showing such technical setups: 

Chennai Petroleum

This stock has surged 12% last week, breaking through a significant resistance area and attracting strong buying interest. With a weekly RSI below 70, Chennai Petro still has space to run, noted Chandel. 

However, crude oil price trends and margin outlooks will be key factors to monitor for continued momentum. 

Chennai Petro shares have gained 19% year-to-date (YTD).

Natco Pharmaceuticals

This stock has rebounded 12.91% from a key support level, with a weekly RSI at 52.98. 

Technical indicators, such as the RSI, suggest that Natco Pharma is showing healthy strength without being overbought. Going ahead, developments on the regulatory and product pipeline front remain crucial for further momentum. 

Natco Pharma shares have fallen 30% year-to-date (YTD).

Asahi India Glass

This stock hit a fresh all-time high last week, climbing 15.59%, yet its weekly RSI stands at 66.7. 

Chandel observed this rare combination of breakout and controlled RSI in Asahi India, indicating that the rally is not yet overextended. Investors should pay attention to volumes and the stock’s ability to sustain above breakout levels. 

Asahi India shares have gained 10% year-to-date (YTD).

Blue Star 

This stock has risen 13.37% after a healthy pullback from its all-time high. With a weekly RSI of 52.71, Blue Star suggests there is still ample buying power left. The outlook for fresh orders and margin updates in the upcoming results will be a crucial factor to watch.

Blue Star shares have fallen 20% year-to-date (YTD).

Chandel concluded that these stocks have shown strong price action with weekly RSI values below 70, which suggests potential for further upside.

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