The stock market’s weakness has prompted investors to look for shares showing signs of recovery. Dipesh Sarawagi, Technical Research Analyst at Choice Broking, has identified three stocks in the cash segment that could attract buying interest: SAMHI Hotels, Tanla Platforms and Vijaya Diagnostic Centre.
According to the analyst’s technical assessment, these stocks are showing potential bullish reversal patterns, improving momentum and signs of renewed buying activity. The recommendations include specific entry prices, stop-loss levels and target prices to help traders manage their positions.
1. SAMHI Hotels Share Price: Target ₹167
Thursday’s closing price: ₹149.96, up 1.93%
SAMHI Hotels has shown signs of a possible recovery after forming a reversal candle on its daily chart. The stock has established a support zone between ₹141 and ₹143 and was recently trading around ₹150.49.
The share has moved above its 20-day Exponential Moving Average (EMA), positioned at ₹149.26. This development could open the way for a potential move towards its 50-day, 100-day and 200-day EMAs.
The 14-period Relative Strength Index (RSI) has improved to 49.64 and moved above its signal line, suggesting that selling pressure is easing and buying interest is returning.
The formation of successive green candles, accompanied by rising trading volumes, provides further signs of recovery.
- Buy price: Around ₹150.49
- Stop loss: ₹142
- Target price: ₹167
2. Tanla Platforms Share Price: Target ₹640
Thursday’s closing price: ₹579.80, up 3.15%
Tanla Platforms has displayed stronger upward momentum, with its daily chart showing a bullish candle following a prolonged base formation. The stock was recently trading around ₹581 after breaking above a rounding-base pattern that developed near the ₹480–₹490 support zone.
The share is trading above its major exponential moving averages, including the 20-day, 50-day, 100-day and 200-day EMAs. The rising 20-day EMA is also providing additional technical support.
Tanla Platforms’ 14-period RSI stands at 69.74 and remains above its signal line, indicating strong momentum and sustained buying interest.
If the positive trend continues, the stock could move towards its previous swing high near ₹640. However, the relatively elevated RSI also makes it important for traders to monitor potential short-term volatility.
- Buy price: Around ₹581
- Stop loss: ₹551
- Target price: ₹640
3. Vijaya Diagnostic Centre Share Price: Target ₹1,555
Thursday’s closing price: ₹1,392.80, up 2.91%
Vijaya Diagnostic Centre has shown signs of a potential rebound after finding support in the ₹1,335–₹1,340 range. The stock formed a reversal candle near this zone and was recently trading around ₹1,391.
The share has moved above its 100-day EMA and is attempting to cross the 20-day and 50-day EMAs. Its 200-day EMA is positioned at ₹1,280.80, providing a reference point for its longer-term technical trend.
The 14-period RSI has recovered to 41.92 and moved above its signal line. This suggests that selling pressure may be declining as buyers gradually return to the market.
If the recovery continues, the stock could advance towards its previous swing high. Traders should nevertheless watch whether the share can sustain its upward momentum.
- Buy price: Around ₹1,391
- Stop loss: ₹1,309
- Target price: ₹1,555
What Should Investors Keep in Mind?
SAMHI Hotels, Tanla Platforms and Vijaya Diagnostic Centre are showing different degrees of technical recovery, according to the analysis by Choice Broking’s Dipesh Sarawagi. The suggested targets indicate potential price levels if the anticipated upward movements develop.
However, technical patterns do not guarantee future performance, particularly when the broader market is under pressure. Traders should consider their risk tolerance, use appropriate stop-loss orders and avoid making investment decisions based solely on short-term price movements.
Disclaimer
This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. The stock prices, technical indicators, targets and stop-loss levels are based on the information provided and have not been independently verified. Share prices can change rapidly, and investors may lose some or all of their invested capital. Consult a SEBI-registered investment adviser and conduct your own research before making investment decisions.