Investors are advised to consider MTAR Technologies and Angel One for potential gains, as both stocks have shown promising technical patterns. MTAR Technologies is currently trading at Rs 7,947, with a potential upside of 12%, while Angel One is trading at Rs 339.65, with a projected upside of 9%.
MTAR Technologies has experienced a parabolic breakout above the Rs 7,000 – 7,200 resistance zone, closing with a 6.58% gain. The stock has been on an upward trend since February, consistently making higher highs and trading above all key EMAs (20/50/100/200). Traders are advised to buy on dips between Rs 7,500 and Rs 7,700, with a stop loss at Rs 7,150 and a target of Rs 8,650.
Angel One has staged a clean breakout above the Rs 322.55 resistance level, challenging multi-month highs. The stock has recovered from February lows near Rs 220, forming a strong bullish structure with higher highs and lows. It is trading above all key EMAs, supported by a volume surge. Traders should consider buying between Rs 330 and Rs 340, with a stop loss at Rs 308 and a target of Rs 370.
“The overall sentiment continues to remain weak, with the possibility of further downside in the short term.”
Rupak De, Senior Technical Analyst at LKP Securities
Rupak De, Senior Technical Analyst at LKP Securities, noted that the RSI remains in a bearish crossover, indicating weakening momentum. "The overall sentiment continues to remain weak, with the possibility of further downside in the short term," De said.
The broader market sentiment remains cautious, with key indices showing signs of potential downside. Investors should be mindful of the 23,400 support level, as a breach could lead to panic selling. Conversely, a move above 23,800 could signal a directional rally.
Background
The broader market sentiment remains cautious, with key indices showing signs of potential downside. Investors should be mindful of the 23,400 support level, as a breach could lead to panic selling. Conversely, a move above 23,800 could signal a directional rally.
Looking ahead, market participants should monitor the movements of MTAR Technologies and Angel One closely, as their performance could provide insights into broader market trends. The technical indicators suggest potential gains, but caution is advised given the current market volatility.
