MCX India, Ather, Welspun Corp: Analyst decodes charts of Aug top winners

Amit Trivedi, technical and derivative research analyst at YES Securities flags key levels to track on MCX India, Ather Energy and Welspun Corp; these stocks rallied up to 39% in August.

Disclaimer: Views and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers' discretion is advised. The Nifty 50 index ended August 2026 with a loss of 1.25 per cent at 24,080. In comparison, the broader indices - the Nifty Midcap 100 and Nifty Smallcap 100 gained 2.08 and 3.06 per cent respectively, while the Nifty 500 closed flat. Despite the Nifty 500 index closing flat, as many as 110 stocks rallied more than 5% last month. Welspun Corp was the top gainer, up 39 per cent followed by Cyient and Ather Energy up 36.8 per cent and 35 per cent, respectively. Among others, Multi Commodity Exchange Of India (MCX India), Welspun Living, Sapphire Foods India, Finolex Cables, HFCL, PTC Industries, One97 Communications (Paytm), Bosch, Motilal Oswal Financial Services and Apar Industries were up 20-29 per cent, shows ACE Equity data. ALSO READ | FIIs pile up 2.5 lakh index shorts; analysts decode Sep market outlook Given this background, here's a technical check by Amit Trivedi,  Senior Vice President, Technical and Derivative Research, YES Securities on select top gainers in August 2026. Technical outlook on MCX India, Ather Energy, Welspun Corp by YES Securities. 

MCX India

Current Market Price: ₹3,292 

 

 

 MCX India moved choppily in the past few sessions; nevertheless, the structure remains constructive, says Amit Trivedi of YES Securities. The analyst believes that the prior month's up move ensures a shift of range on the upside. He expects support for the stock near ₹3,100, and a likely upside target price around ₹3,550 levels. 

Ather Energy

Current Market Price: ₹1,696 

 

 Following a moderate price correction, Trivedi believes that Ather Energy has regained momentum on the upside. "After breaking through the recent high, the stock managed to sustain above it. Minor cool-off/consolidation is possible due to the overbought condition on short-term charts," explains the analyst. On the upside, Trivedi expects the stock to rally all the way to ₹1,840 levels. 

Welspun Corp

Current Market Price: ₹2,550 

 

 Welspun Corp's daily chart shows a series of positive candles, which underlines internal strength and a shift of range on the upside, says Trivedi. According to the analyst, the formation of a large bullish candle after a few days of consolidation indicates key support near ₹2,350 and more room on the upside till ₹2,750.