As market rallies, when will tide turn for these 5 stocks? details here

IndusInd Bank, PG Electroplast, Five-Star Business, Cohance Lifesciences and Praj Industries have shed 20% in the last 7 months, while the Nifty and Nifty 500 have rallied up to 18%, shows data.

After a damp start to the calendar year 2025, equity markets have now staged a smart recovery in the last 7-odd months. The NSE benchmark - Nifty 50 index has surged over 15 per cent from its February close of 22,125 to a high of 25,449 in trades today, September 18.  In the same period, the broader Nifty 500 index has rallied 18.4 per cent, shows the NSE data. A total of 8 stocks from the Nifty 500 components have more-than-doubled or zoomed over 100 per cent in this period.  These include stocks like - Data Patterns, Netweb Technologies, HBL Engineering, Godfrey Phillips, Garden Reach Shipbuilders & Engineers (GRSE), GE Vernova T&D India, Gujarat Mineral Development Corporation (GMDC) and Authum Investment & Infrastructure. These apart, another 58 stocks have soared more than 50 per cent in the last seven months.  ALSO READ |  Set for pre-Diwali run? 72% of Nifty, 63% of Nifty 500 stocks above 200-DMA 

Losers in a market rally

In contrast, data from ACE Equity shows that 1 in every 25 Nifty 500 stocks have dropped more than 10 per cent in the same above mentioned period. Five-Star Business Finance, PG Electroplast, IndusInd Bank, Cohance Lifesciences and Praj Industries are the 5 stocks that have plunged more than 20 per cent from their respective February month close, despite the broader market rally.  Is it time to look at these 5 laggards or will the pain continue? Here's a technical outlook on these shares. 

IndusInd Bank

Current Price: ₹739  Likely Target: ₹600  Downside Risk: 18.8%  Support: ₹725; ₹675; ₹640  Resistance: ₹751; ₹770; ₹850  IndusInd Bank stock is seen trading below the key moving averages on the daily, weekly and monthly scale; thus underlying the prevailing negative trend at the counter. The stock looks fairly oversold on the long-term scale, and is quoting below the 200-Month Moving Average (200-MMA) since the breakdown in March 2025. 

 

 

  The chart suggests that the long-term trend for the stock is likely to remain tepid as long as the stock trades below the 200-DMA, which stands at ₹850. On the downside, the stock may revisit its recent lows around ₹640 - ₹600 levels. Interim support for the stock can be anticipated around ₹725 and ₹675 levels.  For the near-term trend to turn positive, IndusInd Bank will need to cross and trade consistently above ₹770 levels; with the 20-DMA at ₹751 likely to act as an immediate hurdle for the stock. 

PG Electroplast

Current Price: ₹567  Likely Target: ₹471  Downside Risk: 17%  Support: ₹533  Resistance: ₹585; ₹613  PG Electroplast stock is seen testing support around its 100-Week Moving Average (100-WMA), which stands at ₹533, for the last six trading weeks. Historical chart shows that the stock has been trading consistently above the 100-WMA for the last five years; hence this support is likely to play an important role. 

 

  In case, the 100-WMA support breaks, the stock is likely to extend the fall and seek support around ₹471 levels - wherein stands the monthly trend line support. Thus implying a downside risk of 16.9 per cent from here.  In the very near-term, bias at the counter is likely to remain tepid as long as the stock trades below ₹613, with immediate resistance visible at ₹585 levels. 

Cohance Lifesciences

Current Price: ₹916  Likely Target: ₹716  Downside Risk: 21.8%  Support: ₹856; ₹778  Resistance: ₹935; ₹1,006  Cohance Lifesciences has been struggling below the key long-term moving averages post the breakdown in early May. In recent trading sessions, the stock has consistently met with resistance around its 100-DMA, which stands at ₹1,006. Today, the stock has slipped back below its 20-DMA, which stands at ₹935. 

 

  On the weekly scale, the stock is seen making lower highs and lower lows. Thus implying the possibility of the stock falling below its recent low of ₹856. On the downside, the stock may slide towards the 100-WMA, which stands at ₹716 levels, with interim support visible at ₹778. 

Praj Industries

Current Price: ₹392  Likely Target: ₹290  Downside Risk: 26%  Support: ₹353; ₹320  Resistance: ₹416; ₹437; ₹460  Praj Industries is likely to trade with a negative bias in the short-term as long as the stock remains below ₹416. Above which, the 50-DMA at ₹437 and the 100-DMA at ₹460 are likely to act as stiff hurdles for the stock. 

 

  On the downside, the stock may plunge towards the 100-MMA, which stands at ₹290 levels. Intermediate support for the stock can be anticipated around ₹353 and ₹320 levels, shows the long-term chart. 

Five-Star Business Finance

Current Price: ₹542  Likely Target: ₹485  Downside Risk: 10.5%  Support: ₹535; ₹514  Resistance: ₹546; ₹578  Five-Star Business Finance stock needs to break and trade consistently above ₹578 levels for the short-term bias to turn favourable at the counter. For now, the stock seems to be facing resistance around its 20-DMA, which stands at 546 levels. 

 

  On the downside, the stock seems on course to test the monthly trend line support at ₹485 levels, with interim support likely around ₹535 and ₹514 levels.