According to reports from Business Standard, Anand James, Chief Market Strategist at Geojit Investments, has recommended 'Buy' on three stocks - Siemens Energy India, EID Parry, and Cholamandalam Investment & Finance Company (CHOLAFIN) on Tuesday. The recommendations come as part of Geojit's technical stock picks for the current market environment.
As reported by Business Standard, Siemens Energy India (ENRIN) is showing signs of a bullish reversal after finding support near a key weekly horizontal demand zone. The stock is currently trading at ₹3,420 with a target price of ₹3,650 and a stop loss at ₹3,248. According to the analysis, the recent decline into support attracted buyers, resulting in a strong bullish reversal candle that indicates demand is returning at lower levels. Momentum indicators are improving, with the MACD histogram starting to contract on the downside, suggesting that bearish momentum is fading and a potential bullish crossover may be developing. The stock appears to be completing a healthy pullback within the broader uptrend, with the trade offering a favorable risk-reward setup as long as it sustains above ₹3,248.
According to Business Standard, EID Parry appears to be witnessing a meaningful trend reversal after an extended corrective phase. The stock is currently trading at ₹767 with a target price of ₹800 and a stop loss at ₹738. On the weekly chart, the stock has broken out of a prolonged narrow consolidation range near the 740-760 zone, indicating a potential shift in momentum from distribution to accumulation. Momentum indicators remain constructive with the weekly RSI holding firm around the 60 mark, reflecting healthy bullish strength without entering overbought territory. The daily MACD histogram has begun to reverse higher, indicating improving momentum and a potential acceleration in buying pressure after a brief consolidation phase. The combination of a strong long-term trend, range breakout, and positive momentum signals strengthens the bullish outlook for the stock.
As reported by Business Standard, Cholamandalam Investment & Finance Company (CHOLAFIN) continues to exhibit a strong bullish structure, supported by both trend-following and momentum indicators. The stock is currently trading at ₹1,850 with a target price of ₹1,930 and a stop loss at ₹1,815. The stock is trading comfortably above its 50-day, 100-day, and 200-day moving averages, highlighting a well-established primary uptrend and sustained institutional participation. On the price action front, CHOLAFIN has delivered a decisive breakout from a multi-week consolidation range, signaling a resumption of the broader upward trend. Such breakouts following periods of sideways movement often indicate fresh buying interest and can pave the way for the next leg of the rally.
