According to Geojit Investments chief market strategist Anand James, Lumax AutoTechnologies, V-Mart Retail and Enviro Infra Engineers are showing constructive technical setups with key support zones holding firm and momentum indicators signalling improving strength. As reported by Business Standard, these stocks are exhibiting early signs of trend reversal after prolonged corrective phases, with technical analysis suggesting potential upside momentum in the near term.
The stock is showing early signs of trend reversal after a prolonged corrective phase, having found support near the ₹1,440-1,450 zone and formed a strong bullish Marubozu candle indicating decisive buying interest at lower levels. According to the technical analysis, the daily MACD is on the verge of a bullish crossover with histogram showing signs of contraction, while the RSI has rebounded from oversold territory and is gradually turning higher. The stock is currently trading near an important support cluster, with a target of ₹1,528 and stop-loss at ₹1,433.
V-Mart Retail is exhibiting a constructive technical setup after correcting from recent highs and stabilizing above a key support zone, with the stock witnessing a strong rebound from the 760-770 horizontal support area. As reported by Geojit Investments, the formation of multiple Doji candles near support signalling indecision and exhaustion among sellers is particularly encouraging, followed by a sharp bullish candle confirming decisive buyer intervention. The daily MACD histogram is showing reversal with negative bars contracting after prolonged decline, while the RSI remains firmly positioned around 60 level highlighting underlying strength. The stock has a target of ₹840 with stop-loss at ₹750.
EIEL is displaying a constructive bullish setup after a healthy pullback within its ongoing uptrend, having retraced to the 38.2% Fibonacci retracement level measured from June swing low to July swing high and witnessed renewed buying interest from this support area. According to the technical analysis, the successful defense of the 38.2% retracement suggests the recent decline was corrective rather than the start of a deeper trend reversal. The daily MACD histogram is showing signs of reversal with negative bars beginning to contract, while the RSI remains comfortably above 55 mark highlighting the stock's ability to maintain bullish momentum. The stock has a target of ₹242 with stop-loss at ₹222.
As reported by Business Standard, these technical setups suggest that selling pressure may be exhausting and buyers are beginning to regain control across these three stocks. The positive divergence between price action and momentum indicators further strengthens the probability of near-term recovery, with all three stocks showing constructive patterns after recent corrections. The analysis indicates that price action near support further reinforces the bullish case for these technical setups in the current market environment.
