From breakouts and morning star patterns to wedge formations and trendline supports, technical charts are flashing green for six stocks, including Maharashtra Seamless, Ramco Systems, Happy Forgings, and others.
SEBI-registered analyst Vinay Taparia has identified these stocks as having potential for strong upside in the short to medium term.
Let’s take a look at his recommendations:
Maharashtra Seamless
Maharashtra Seamless has taken support at an upward-moving trendline and has formed a morning star pattern. The stock can move to ₹772 and ₹815 levels in the short term. But a close below ₹700 negates this view.
Ramco Systems
Ramco Systems has formed a small bullish wedge on the daily chart and has given a good breakout. The stock is expected to move to ₹450-₹495 in the short term. A close below ₹476 invalidates this view.
Happy Forgings
Happy Forgings has taken support at an upward-moving trendline and formed a good bullish candle. The stock is expected to rise to ₹1,072-₹1,132 over the next 12 months. A close below ₹920 negates this view.
Genus Power Infrastructures
Genus Power has taken support at an upward-moving trendline. The stock is sustaining above 50 and 200-day Exponential Moving Average (EMA). The stock can move to ₹424-₹455 in nine to twelve months. But a close below ₹353 invalidates this view.
Coral India Finance & Housing
Coral Finance has given a good breakout on daily chart with good volume. Its Relative Strength Index (RSI) is also reached near 70. The stock is expected to move to the ₹58-₹65 level over the next six to nine months. A close below ₹44 invalidates this view.
GE Vernova T&D India
GE Vernova has closed at an all-time high with good volume on Wednesday. The stock can potentially move to ₹3,000 in nine to twelve months; however, a close below ₹2,350 would negate this view.
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