From Breakouts To Reversal: SEBI RA Gunjan Kumar Flags These Four Stocks For Potential Uptrend

SEBI-registered analyst Gunjan Kumar sees CarTrade and CEAT displaying bullish technical signals, supported by robust underlying fundamental strength. The analyst also added NTPC and DLF to the F&O watchlist.

CarTrade Tech

From a fundamental perspective, CarTrade Tech remains robust, Kumar said. It has remained nearly debt-free and has generated over 115% return on investment in the past year.

In the fourth quarter, it reported its second-highest revenue along with record profits. Foreign institutional investors (FIIs) had increased their stake during the period.

On the technical front, the stock has breached a key trendline. The analyst recommends traders keep an eye out for a move above ₹1,850, with ₹1,649 acting as crucial support.

Retail sentiment on Stocktwits turned ‘bullish’ from ‘neutral’ a day earlier.

At the time of writing, CarTrade stock was down 2.5% at ₹1,762.9. It has gained 19% year-to-date (YTD).

CEAT

CEAT appears undervalued fundamentally, having posted its highest-ever revenue in the recent quarter, Kumar said. Domestic institutional investors have steadily increased their stake for eight consecutive quarters, reflecting growing confidence.

Technically, a key trendline has been breached, the analyst said. The stock should be watched only above ₹3,875, with ₹3,604 as a closing support, she added.

Retail sentiment was ‘bullish’ on Stocktwits, having been ‘bearish’ a week earlier.

CEAT shares are currently trading 1.75% higher at ₹3,853.5, having gained 19% YTD.

F&O Stockwatch

NTPC has broken out of a consolidation box, indicating potential upside momentum, the analyst said. Watch for a move above ₹345, with ₹329 as the key support on a closing basis, she added.

Retail sentiment on Stocktwits turned ‘bearish’ from ‘neutral’ a day ago.

NTPC shares were slightly up at ₹343.65 on Wednesday. It had added 3.3% to its value on a YTD basis.

DLF is showing signs of reversal from a strong support zone. A breakout above ₹850 could trigger further gains, with ₹819 seen as a crucial support level, Kumar said.

DLF shares were down 1.8% at ₹828.85 at the time of writing. YTD gains stood at 0.7%

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