According to Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi Shares and Stock Brokers, investors should look into three stocks for potential gains: CEAT, Endurance Technologies, and HPL Electric & Power. Each stock is showing signs of recovery following recent declines, with specific buying ranges and targets for those wanting to capitalize on market movements.
CEAT: Signs of Recovery
CEAT has seen a notable correction, declining around 17.6% from its peak of ₹4,438. The stock is now trading in the ₹3,930–₹3,900 range, aligning with the 50% Fibonacci retracement level of its previous rally. This price range is regarded as a potential demand zone, suggesting buyers may re-enter the market. Technical indicators indicate signs of stabilization, with both price action and the Relative Strength Index (RSI) hinting at a possible reversal. As long as the stock remains above ₹3,765, the risk-reward ratio appears favorable for a recovery move toward the target price of ₹4,300 within the next 30 to 60 days.
Endurance Technologies: Stabilizing at Support
Endurance Technologies has experienced a correction, falling approximately 14.5% from its peak of ₹2,986. The stock is currently trading near the ₹2,680–₹2,650 zone, which coincides with the 38.2% Fibonacci retracement level and the 200-day Exponential Moving Average (DEMA). This combination of support levels offers a strong base for potential upward movement. Furthermore, positive divergence in both the RSI and the Moving Average Convergence Divergence (MACD) points to weakening downward momentum. If the stock can hold above ₹2,545, it is well-positioned for a move toward the target price of ₹2,850 in the next month or so.
HPL Electric & Power: Trend Reversal Potential
HPL Electric & Power has encountered a significant 42% decline since July 2025. However, it is nearing a critical demand zone that previously saw noteworthy buying interest in February 2025. The stock has just surpassed its prior swing high, indicating a potential trend reversal rather than just a temporary bounce. This shift is supported by the daily RSI breaking above previous swing levels, signaling increasing momentum and renewed buying interest. If HPL Electric & Power can maintain its position above ₹375, it could continue its upward trend toward the target price of ₹460 in the upcoming sessions.
Disclaimer: Digihunt is not a financial advisor and this is not investment advice.