Market Trading Guide Recommends Buying Kalpataru Projects, Asahi India, and Three Other Smallcap Stocks for Potential 10% Returns
The Nifty index experienced continued losses, with analysts pinpointing critical support and resistance levels. Experts recommend buying Kalpataru Projects, Asahi India, and three other smallcap stocks, citing technical indicators such as breakouts, support from EMAs, rising RSI, and volume expansions, suggesting bullish momentum and potential upside over the next 2-3 weeks.
Nifty extended losses influenced by declines in IT, auto, and metal sectors, moving toward key support between 25,525 and 25,590, with resistance around 25,700. Rupak De of LKP Securities noted weak momentum with possible further correction if key support breaks. Five smallcap stocks are recommended for purchase over a 2-3 week horizon by various analysts. Kalpataru Projects International (KPIL) showed an upside breakout above Rs 1,310 with expanding volume and positive weekly RSI, signaling a bullish reversal. Another stock ended consolidation with a bounce from Rs 555, forming higher highs and favorable volume/RSI patterns. KPIL demonstrated strong accumulation and trading above multiple EMAs with an RSI around 63, indicating continued upward momentum. SIYSIL exhibited breakout from a rounding bottom pattern and strong bullish volume with an RSI near 77, implying robust buyer interest. ASAHIINDIA’s price action forms higher highs and lows, rebounding from its 20-day EMA near Rs 920, trading above key moving averages with resistance at Rs 965, projecting further gains. CCL experienced breakout above consolidation and trendline, supporting a likely continuation of its bullish trend, trading above essential EMAs with critical support near Rs 840. The overall technical assessment underscores accumulation and positive momentum across these recommended smallcaps, aligning with potential 10% returns within several weeks.
