Investors tracking the stock market may want to keep an eye on three stocks that have recently shown positive technical signals. Choice Broking’s VP Research Sachin Gupta has shared trading strategies for HCL Technologies, Phoenix Mills and Marico, including possible entry levels, targets and stop-loss levels.
The setups are based on technical indicators such as support zones, moving averages, breakouts and MACD signals. Here is what the analyst has said about each stock.
HCL Technologies
HCL Technologies is trading around the ₹1,270 level. According to Sachin Gupta, the stock is currently showing a breakout-retest setup on the daily chart.
The ₹1,235 level has acted as an important support area in recent sessions. The stock has managed to hold this zone, while the MACD indicator is also showing an early positive crossover.
Based on this setup, the analyst has suggested considering a buy around ₹1,270.
- Buy Price: ₹1,270
- Target: ₹1,360
- Stop Loss: ₹1,235
- Potential Upside: Around 7.1%
The technical view would remain positive as long as the stock continues to hold the ₹1,235 support level, according to the analyst.
Phoenix Mills
Phoenix Mills is another stock on the analyst’s radar. The share was trading around ₹1,953 and had recently moved above a falling trendline with an increase in trading volume.
The stock is also holding above its 21-day EMA, while the MACD has given a positive crossover. Together, these signals indicate improving short-term momentum from a technical-analysis perspective.
Gupta has suggested a buy around ₹1,953, with a target of ₹2,150.
- Buy Price: ₹1,953
- Target: ₹2,150
- Stop Loss: ₹1,880
- Potential Upside: Around 10.1%
The increase in volume alongside the breakout is another factor supporting the technical setup.
Marico
Marico is also showing signs of strength on the daily chart. The stock was trading near ₹830 and has taken support around its breakout-retest zone as well as the 200-day SMA.
The stock has remained above its 21-day EMA for the past couple of sessions. Its recent price structure is also forming higher highs and higher lows, which points to positive short-term momentum.
The analyst has identified ₹804 as an important support level and suggested a buy around ₹830.
- Buy Price: ₹830
- Target: ₹886
- Stop Loss: ₹804
- Potential Upside: Around 6.7%
The MACD is also showing early signs of improvement, according to the technical view shared by the analyst.
Buy levels, targets and stop-loss at a glance
| Stock | Buy Price | Target | Stop Loss | Potential Upside |
|---|---|---|---|---|
| HCL Technologies | ₹1,270 | ₹1,360 | ₹1,235 | ~7.1% |
| Phoenix Mills | ₹1,953 | ₹2,150 | ₹1,880 | ~10.1% |
| Marico | ₹830 | ₹886 | ₹804 | ~6.7% |
What should investors keep in mind?
The levels above are technical trading views shared by Sachin Gupta of Choice Broking, rather than guaranteed returns. Stock prices can move sharply in either direction, and the setup can change if important support levels are breached.
Investors should also consider their own risk tolerance, investment horizon and the company’s fundamentals before taking any position. The buy, target and stop-loss levels mentioned above relate to the analyst’s stated trading strategy and should not be treated as assured outcomes.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a qualified financial adviser before making investment decisions.
Nitish Kumar Sharma is the Founder, Chief Executive Officer (CEO), and Editor-in-Chief of Learn Onex. He leads the platform’s vision, editorial strategy, content standards, and long-term growth initiatives with a focus on financial education and investor awareness.