SEBI-registered analysts are bullish on select small-cap names as technical charts flash strong reversal signals. HBL Engineering and Indian Hume Pipe have both formed an inverse head-and-shoulders pattern, often seen as a bullish indicator, while CreditAccess Grameen is approaching a critical breakout zone.
Let’s take a look at the analyst recommendations:
HBL Engineering
HBL shares have rallied 7% in the last one week. SEBI-registered analyst Palak Jain noted that HBL Engineering is trading below the identified breakout level of ₹638. The charts indicate that it has formed an inverse head and shoulders pattern, a potential indicator of a trend reversal from bearish to bullish. This is also supported by a surge in volumes, indicating possible upside gains.
Jain set immediate targets at ₹657, ₹676, and ₹701, with a stop loss at ₹570 to limit potential losses.
Data on Stocktwits shows that retail sentiment is ‘bullish’ on this counter amid 'extremely high' message volumes.
Indian Hume Pipe Company
Jain also flagged a buying opportunity in Indian Hume Pipe, which has rallied 10% in the last month.
Technical charts indicate that the Indian Hume stock has formed an inverse head and shoulders pattern, suggesting a potential bullish reversal. It is accompanied by strong volumes, which indicate increased buying interest and confirm breakout potential.
Jain also noted that the stock has formed a bullish trend line with higher highs and higher lows, indicating an upward trend. She sees strong support at ₹420 level, with a breakout above ₹470 leading to gains.
She suggested buying the stock for a target price of ₹510-₹525, with a stop loss at ₹420, to manage risk.
Data on Stocktwits shows that retail sentiment is ‘neutral’ on this counter.
Credit Access Grameen
Credit Access shares have rallied 13% in the last one month. Analyst Sunil Kotak sees a strong supply zone between ₹1,330 and ₹1,360. He added that the stock is likely to break out above ₹1,360. On the downside, he pegged support around ₹1,260-₹1,290.
Data on Stocktwits shows that retail sentiment is ‘bullish’ on this counter amid ‘high’ message volumes.
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