Oil India, TechM: 5 stocks to buy in a falling market for up to 15% gain

Technical charts show that the key momentum oscillators on Oil India and Campus Activewear are turning favourable, hence the stock may trade with a positive bias in the near-term.

Equity markets have been in a downtrend for the last six trading sessions, with the benchmark indices the Sensex and the Nifty tumbling up to 4 per cent, thus far, at the day's low of 75,380 and 22,788 in intra-day deals on Wednesday.  Donald Trump's new tariffs, sustained selling by foreign institutional investors, a weaker rupee and unimpressive corporate earnings seem to be taking a toll on the markets, which analysts believe were trading at expensive valuations.  Amid the downturn, more than 81 per cent of the Nifty 500 stocks were seen trading below the long-term moving averages, in line with the NSE Nifty 50 index.  As such, stock selection becomes a challenging task. Here are 5 such stocks that can potentially buck the present gloomy sentiment and rally up to 15 per cent from present levels, based on the technical chart set-up.  Oil India  Current Price: Rs 417  Upside Potential: 12.7%  Support: Rs 407  Resistance: Rs 427; Rs 443; Rs 460  The key momentum oscillators for Oil India are favourably placed on the daily scale, and seem to be on course of a positive crossover on the weekly scale; hence the stock may witness an upside in the near-term. The stock is likely to trade with a favourable bias as long as it holds above Rs 407. CLICK HERE FOR THE CHART  On the upside, the stock has near resistance at Rs 427; break and sustained trade above the same can trigger a rally towards Rs 470 levels. Interim resistance for the stock can be expected around Rs 443 and Rs 460 levels.    Tech Mahindra  Current Price: Rs 1,680  Upside Potential: 11.9%  Support: Rs 1,668; Rs 1,630  Resistance: Rs 1,715; Rs 1,777; Rs 1,820; Rs 1855  Despite the broader market volatility, Tech Mahindra has consistently found support around its 100-DMA (Daily Moving Average), which stands at Rs 1,668; below which the next support for the stock stands at Rs 1,630. On the upside, the stock needs to break and trade consistently above Rs 1,715 for a likely rally towards Rs 1,880 levels. Interim resistance for the stock can be expected around Rs 1,777, Rs 1,820 and Rs 1,855 levels. CLICK HERE FOR THE CHART  Hindalco  Current Price: Rs 601  Upside Potential: 13.1%  Support: Rs 597; Rs 575  Resistance: Rs 618; Rs 647  Hindalco has been trading along its 20-DMA at Rs 597 for the last two weeks. On the downside, the stock has good support at around Rs 575 levels, while on the upside, it faces near resistance at Rs 618. Break and trade above this level can trigger a rally towards Rs 680, with intermediate resistance anticipated around Rs 647. CLICK HERE FOR THE CHART  Timken India  Current Price: Rs 2,723  Upside Potential: 10.2%  Support: Rs 2,700  Resistance: Rs 2,750; Rs 2,945  Timken India is seen testing support at its super trend line on the long-term chart, which stands at Rs 2,700. The stock seems to be contra-play, as it trades in a fairly oversold zone on the daily and weekly time-frames. The stock needs trade firmly above Rs 2,750, to attract buying interest at the counter. On the upside, it can spurt to Rs 3,000-mark, with interim resistance seen at Rs 2,945. CLICK HERE FOR THE CHART  Campus Activewear  Current Price: Rs 280  Upside Potential: 15%  Support: Rs 274; Rs 260  Resistance: Rs 290; Rs 295; Rs 313; Rs 323  Key momentum oscillators on the daily chart have seen a positive crossover today; hence Campus Activewear may trade with a positive bias in the near-term. As such, the stock needs to clear the hurdle at Rs 290 and Rs 295 for a likely rally towards Rs 322 levels. Interim resistance can be anticipated around Rs 313. Support for the stock exists at Rs 274 and Rs 260. CLICK HERE FOR THE CHART