PG Electroplast Nearing Breakout? SEBI RA Manish Kushwaha Eyes 18% Upside in Medium Term

PG Electroplast has caught the attention of SEBI-registered analyst Manish Kushwaha, who sees a bullish setup forming on the charts. He has recommended a buy for the medium term, with an 18% upside target.

The stock has been consolidating in recent sessions, forming a symmetrical triangle—a classic technical pattern often preceding a breakout. 

According to Kushwaha, the converging trendlines of this triangle—a descending resistance line and an ascending support line—indicate the stock is nearing a key inflection point.

“The price is nearing the apex of the triangle, which suggests a significant move may happen soon,” he noted.

Adding to the technical case, PG Electroplast is currently trading between the 38.2% and 61.8% Fibonacci retracement levels, typically considered zones of price reaction.

“If the price breaks above the descending resistance with strong volume, it could retest previous highs near ₹1,000,” Kushwaha said.

He recommended accumulating the stock between ₹880–885, setting a target of ₹1,030, with a stop loss at ₹790, and a trade duration of 15 days to 3 months.

PG Electroplast, which manufactures plastic and electronic components for white goods and appliances, had seen strong gains over the past year, supported by rising demand in the consumer electronics space and positive earnings momentum.

Aggressive growth in its core business segments and a series of strategic developments that have propelled the stock into multi-bagger territory.

However, PG Electroplast shares have fallen 16% in 2025.

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