Weekly Technical Outlook and Picks : Hero MotoCorp Ltd, Gujarat State Fertilizers & Chemicals Ltd, Cummins India Ltd -Axis Securities Ltd
Hero MotoCorp Ltd
Buy Hero MotoCorp Ltd CMP 4600 @ 4585-4495 Stop loss: 4310 Upside: 10% –13%
* HEROMOTOCO has broken out of an inverted Head and Shoulders pattern near 4,518 on the weekly chart—a strong reversal formation—confirming the onset of a medium-term uptrend.
* While volume remained muted during the base formation, a notable surge at the breakout point signals strong market participation and lends credibility to the bullish move.
* The stock also surpassed a short-term consolidation zone between 4,480 and 4,180, further strengthening the technical outlook.
* Supporting the bullish bias, the weekly RSI has crossed above its signal line and is sustaining above the 50 mark, reflecting improving momentum and a constructive setup.
* The above analysis indicates an upside toward 5,000-5,135 levels.
* The holding period is 3 to 4 weeks.
Gujarat State Fertilizers & Chemicals Ltd
Buy Gujarat State Fertilizers & Chemicals Ltd CMP 213 @ 211-207 Stop loss: 194 Upside: 14%–17%
* GSFC has registered a decisive breakout above the falling channel at 207 on the weekly chart, accompanied by a strong bullish candle, marking the end of its corrective phase and the beginning of a new uptrend.
* The stock is now trading firmly above all key moving averages—the 20, 50, 100, and 200-day SMAs—highlighting its robust underlying strength and improving trend structure.
* Adding to the bullish setup, the weekly RSI has crossed above its signal line and broken out of a horizontal resistance near 56, confirming renewed momentum and reinforcing the positive bias.
* A sustained move above recent swing highs could pave the way for a sharp rally in the coming weeks.
* The above analysis indicates an upside toward 239-245 levels.
Cummins India Ltd
Buy Cummins India Ltd CMP 3807 @ 3750-3676 Stop loss: 3494 Upside: 12%–15%
* CUMMINSIND has decisively broken above a multiple resistance zone near 3,700 on the weekly chart, supported by a strong bullish candle, reinforcing the continuation of its medium-term uptrend.
* The breakout is backed by rising volumes, adding conviction to the price action and suggesting further upside potential.
* The stock continues to exhibit a higher high–higher low formation and remains well above its upward-sloping trendline, reflecting sustained buying interest.
* Momentum indicators are aligned with the bullish trend, as the weekly RSI stays firmly above 50 and its signal line continues to slope upward, confirming strong underlying momentum.
* The above analysis indicates an upside toward 4,151-4,260 levels.
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