According to Geojit Investments chief market strategist Anand James, three stocks are showing strong technical patterns that suggest potential short-term recovery opportunities. The analysis focuses on Aster DM Healthcare, SPARC, and Syrma SGS Technology based on their chart formations and momentum indicators.
SPARC is positioned for short-term recovery after finding support near the 61.8% Fibonacci retracement level of the March low to July high rally. As reported by Geojit, the stock has managed to hold this key support zone despite recent correction, with buyers stepping in at lower levels. The weekly MACD histogram is printing exhaustion candles, suggesting that selling pressure may be nearing its end. With the RSI hovering around 55, reflecting gradual momentum improvement while remaining above neutral levels, SPARC could move towards ₹224 over the next few weeks.
Syrma SGS Technology is showing strong signs of continued strength after moving above a long-term consolidation zone. According to Geojit's analysis, the stock has completed a bullish Cup and Handle formation, often considered a sign of fresh upward movement. The breakout was accompanied by a strong bullish candle and sharp increase in volume, indicating strong buying interest. Momentum indicators are supportive, with the MACD generating a bullish crossover and RSI hovering near 70, reflecting strong buying pressure. The stock is trading above key moving averages with steady rise in delivery volumes, supporting a move towards ₹1835 in the next few weeks.
Aster DM Healthcare is showing signs of recovery after witnessing a healthy pullback from recent highs. As reported by Geojit, momentum indicators have started turning favorable with the MACD generating a bullish crossover, indicating strengthening buying momentum. The weekly MACD histogram has begun displaying exhaustion candles, suggesting that recent selling pressure may be losing steam. The RSI has moved above 50 mark and its moving average, reflecting improved trend strength and momentum shift back in favor of bulls. With positive momentum indicators and easing downside pressure, the stock could move towards ₹840 in the next few weeks.
