Market Insights: Trading Strategies for SPARC, Gland Pharma, Techno Electric, GE Power India, Supriya Lifescience and Other Stocks on May 25

Market Bounces Back Amid Range-Bound Trading

On May 22, equity benchmarks showed a 0.3% increase, closing higher on the Nifty 50. Market breadth remained slightly positive, with 1,539 shares advancing against 1,407 declining shares on the NSE. Despite this, a strong move beyond last week's high is required for further market upside, otherwise, range-bound trading may continue.

Short-Term Trading Ideas

Sun Pharma Advanced Research Company

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Sun Pharma Advanced Research Company (SPARC) has decisively surpassed the past one-year consolidation zone around Rs 189 on a closing basis, indicating a trend reversal on the medium-term chart. Rising volumes over the past four weeks signal increased participation. The daily and weekly Bollinger Band buy signals indicate strengthening momentum, while the daily, weekly, and monthly Relative Strength Index (RSI) remains in favourable territory, indicating rising strength across all time frames. The stock is well placed above its 20, 50, 100, and 200-day simple moving averages (SMAs), which are also inching higher along with the price rise.

Minda Corp

Minda Corp has decisively surpassed the multiple resistance zone around Rs 558 on a closing basis, accompanied by huge volumes, indicating strong participation in the breakout zone. The daily Bollinger Band buy signals indicate strengthening momentum, while the daily and weekly RSI remains in positive territory, reconfirming rising strength.

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Gland Pharma

Gland Pharma has delivered a consolidation breakout on a closing basis, following strong gains witnessed during the past week. The weekly and monthly Bollinger Band buy signals indicate increasing momentum, while the stock is well placed above its 20, 50, 100, and 200-day simple moving averages (SMAs). These averages are also gradually moving higher along with the price rise, reaffirming bullish sentiment.

Techno Electric & Engineering Company

Techno Electric & Engineering Company has witnessed a breakout above the weekly down-sloping trendline near Rs 1,320 on a closing basis, accompanied by heavy trading volumes. The stock continues to form higher tops and higher bottoms on the weekly chart, indicating a strong uptrend.

Other Recommendations

• JSW Steel: Buy at current levels with a stop-loss below Rs 1,260, as it has consistently sustained above the pattern breakout and now appears poised for further acceleration.
• GE Power India: Buy at current levels with a stop-loss at Rs 678, as previous resistance levels have now turned into support.
• JB Chemicals and Pharmaceuticals: Buy with a target of Rs 2,350, Rs 2,500 and stop-loss at Rs 2,100.
• Supriya Lifescience: Buy with a target of Rs 832 and stop-loss at Rs 740.
• Endurance Technologies: Buy with a target of Rs 3,100 and stop-loss at Rs 2,650.