Business Standard

Wednesday, February 05, 2025 | 08:13 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Cyient, Mah Life, SW Solar at 52-week lows; can fall up to 23%; hint charts

Chart shows that stocks like Cyient, Rajesh Exports, Mahindra Life, SW Solar and Gujarat Pipavav have tumbled up to 81 per cent from the highs in around last two years; Bias remains negative.

Market, BSE, NSE, NIfty, Stock Market, investment

Market, BSE, NSE, NIfty, Stock Market, investment(Photo: Shutterstock)

Rex Cano Mumbai

Listen to This Article

Equity benchmark indices were seen swinging between zones in morning trade on Friday. As of 11 AM, the BSE Sensex was up 65 points at 76,585, while the NSE Nifty 50 index quoted 10-odd points higher at 23,220.  Amid the subdued trend, 8 stocks - Cyient, Rajesh Exports, Mahindra Lifespaces, Sona BLW Precision, Sterling & Wilson Renewable Energy, Gujarat Pipavav Port, Kansai Nerolac and ZF Commercial Vehicle Control System - today hit a fresh 52-week low on the BSE and NSE, on falling up to 20 per cent.  Here's a technical outlook on 5 of these stocks:  Cyient  Current Price: Rs 1,439  Downside Risk: 11.3%  Support: Rs 1,336  Resistance: Rs 1,550  Cyient tanked 20 per cent to hit a 52-week low at Rs 1,404. The stock has tumbled nearly 42 per cent in the last 13 months, and is seen trading in oversold zone on the daily scale. Chart shows that the near-term bias for Cyient is expected to remain tepid as long as the stock trades below Rs 1,550. CLICK HERE FOR THE CHART  On the downside, the stock seems on course to test its 200-WMA (Weekly Moving Average) at 1,277. Interim support for the stock is seen placed at Rs 1,336.  ALSO READ:  Nifty Realty stocks trade below 200-DMAs; index down 18% in Jan; what next?  Rajesh Exports  Current Price: Rs 198  Downside Risk: 19.2%  Support: Rs 186; Rs 174  Resistance: Rs 216  Rajesh Exports stock has been in a downtrend for the last two years, and has slumped by almost 81 per cent from levels of Rs 1,030 to present. The stock is trading in oversold territory across time-frames; but the momentum indicators continue to show a negative bias. CLICK HERE FOR THE CHART  As such, the stock may extend the slide and test levels of Rs 160. Interim support for the stock can be expected around Rs 186 and Rs 174. On the upside, the stock will need to break above its 20-DMA (Daily Moving Average), which stands at Rs 216 for igniting hopes of a pullback.  Mahindra Lifespaces  Current Price: Rs 392  Downside Risk: 8.2%  Support: Rs 396  Resistance: Rs 415  Mahindra Lifespaces has shed 43 per cent in the last 9 months. The stock at present is seen testing support at its 50-MMA (Monthly Moving Average) at Rs 396. The long-term chart shows that a monthly close below Rs 415 shall invite fresh trouble for the stock. On the downside, the stock could then extend the fall towards Rs 360 levels. CLICK HERE FOR THE CHART  ALSO READ: Why mid, smallcap stocks are crashing in 2025? 70% stocks below 200-DMA  Gujarat Pipavav Port  Current Price: Rs 152  Downside Risk: 21.1%  Support: Rs 143; Rs 129  Resistance: Rs 168  Gujarat Pipavav Port has tanked over 36 per cent in the last 5 months. At present, the stock is seen trading below the 20-MMA, which stands at Rs 168. Chart hints that the stock can potentially slide all the way to Rs 120 levels, wherein stands the 200-WMA (Weekly Moving Average). Interim support for the stock can be anticipated around Rs 143 and Rs 129 levels. CLICK HERE FOR THE CHART  Sterling & Wilson Renewable Energy (SW Solar)  Current Price: Rs 339  Downside Risk: 23.3%  Support: Rs 333; Rs 285  Resistance: Rs 385; Rs 400  SW Solar stock is seen trading with a negative bias for the eighth straight month, and has tumbled by 59 per cent from its high of Rs 828 in May 2024. The stock is seen trading below the key moving averages on the daily and weekly scale. CLICK HERE FOR THE CHART  The near-term bias is likely to remain negative as long as the stock trades below Rs 400, with an interim hurdle for stock seen at Rs 385. On the downside, the stock could potentially crash to Rs 260 levels, wherein a strong base for the stock was formed in earlier years. Intermediate support for the stock can be expected at Rs 333 and Rs 285 levels. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 24 2025 | 11:36 AM IST

Explore News