Bikaji, Raymond, SPARC among 5 smallcap stocks that can gain up to 18%

These 5 smallcap stocks have given a breakout on the hourly time-frame hence are expected to trade with a positive bias in the near-term, suggests the technical charts.

The National Stock Exchange (NSE) Nifty 50 index has been consolidating around the 25,000-mark for the last few days. After a 6 per cent fall from its peak of 26,266, the Nifty 50 has recovered near about 1.5 per cent from its recent low at present levels. 

Meanwhile, the NSE SmallCap 250 index, which had plunged 7 per cent from its all-time high of 18,657, has recovered nearly 5 per cent from its recent low. This shows that the Nifty SmallCap index has outperformed the benchmark Nifty 50 in terms of market recovery.

Against this backdrop, here are 5 smallcap stocks which have given a breakout on the hourly time-frame. These 5 stocks have broken above the super trend line on the daily intra-day charts. Technically, stocks trading above the super trend on the hourly-scale tend to trade with a positive bias in the short-term.

Raymond, Sun Pharma Advanced Research Company (SPARC), Bikaji Foods, Sonata Software and PNB Housing Finance are the 5 smallcap stocks. Here are the key levels to watch out for and likely near-term targets for these stocks.

Raymond

Current Price: Rs 1,690

Upside Potential: 10.7%

Support: Rs 1,630

Resistance: Rs 1,743; Rs 1,813

Raymond stock is likely to trade with a positive bias as long as the stock holds above Rs 1,630 levels, suggests the intra-day technical chart. On the upside, the stock can bounce back to Rs 1,870 levels, with interim resistance seen at Rs 1,743 and Rs 1,813 levels. CLICK HERE FOR THE CHART

Bikaji Foods

Current Price: Rs 859

Upside Potential: 13%

Support: Rs 852; Rs 840

Resistance: Rs 910

Bikaji Foods is expected to trade with a positive bias as long as the stock holds above Rs 840, with near support expected around Rs 852. On the upside, the stock can potentially rally to Rs 970 with interim resistance likely around Rs 910 levels. CLICK HERE FOR THE CHART

SPARC

Current Price: Rs 215

Upside Potential: 18.1%

Support: Rs 209; Rs 207

Resistance: Rs 225; Rs 243

SPARC stock is expected to trade with a favourable bias as long as the stock trades above Rs 209 - Rs 207 support range. On the upside, the stock can potentially surge to Rs 254, with interim resistance likely around Rs 225 and Rs 243 levels. CLICK HERE FOR THE CHART

PNB Housing

Current Price: Rs 976

Upside Potential: 9.6% 

Support: Rs 960

Resistance: Rs 987; Rs 1,030

PNB Housing Finance stock is likely to trade with a positive bias as long as the stock trades above Rs 960, below which support for the stock exists at Rs 940. On the upside, the can spurt to Rs 1,070 levels, with near hurdles seen at Rs 987 and Rs 1,030.  CLICK HERE FOR THE CHART

Sonata Software

Current Price: Rs 606 

Upside Potential: 11.4%

Support: Rs 584

Resistance: Rs 623; Rs 637

Sonata Software stock is likely to trade with a positive bias as long as the stock holds above Rs 584. On the upside, the stock can attempt a bounce back towards its 200-DMA (Daily Moving Average) which stands at Rs 675. Interim resistance for the stock is visible around Rs 623 and Rs 637 levels. CLICK HERE FOR THE CHART