Stocks gaining momentum? Here's why Escorts, Hudco, 3 others are on radar

Technical charts show Escorts, Hudco, Dr Lal PathLabs, Force Motors and Godrej Consumer were trading above the higher-end of the Bollinger Bands on the daily scale; and can potentially rally up to 23%

Select stocks such as Escorts Kubota, Force Motors, Dr Lal PathLabs, Housing And Urban Development Corporation (Hudco) and Godrej Consumer Products rallied up to 5 per cent in Monday's intra-day trade backed by healthy volumes.  Technically, these 5 stocks are likely to be in limelight in the near-term as they are seen trading above the higher-end of the Bollinger Bands on the daily chart.  In general, stocks trading above the upper band, with widening Bollinger Bands tend to signal a start of fresh bullish trend. In the very near-term, the higher-end of the band acts as an immediate support for such stocks.  Given this background, here are the key levels to watch out for on these 5 stocks with potential upside target prices. 

Escorts Kubota

Current Price: ₹3,847  Likely Target: ₹4,200  Upside Potential: 9.2%  Support: ₹3,830; ₹3,785; ₹3,680; ₹3,625  Resistance: ₹4,050; ₹4,120  The near-term trend for Escorts is likely to remain upbeat as long as the stock quotes above ₹3,830; below which support for the stock exists at ₹3,785, ₹3,680 and ₹3,625 levels. On the upside, the stock can potentially surge to ₹4,200 levels, with interim resistance likely around ₹4,050 and ₹4,120. 

 

 

 

Force Motors

Current Price: ₹18,400  Likely Target: ₹20,500  Upside Potential: 11.4%  Support: ₹18,150; ₹17,800; ₹17,100  Resistance: ₹19,500; ₹20,000  Force Motors can potentially pullback towards ₹20,500 levels, shows the medium-term chart. Interim resistance for the stock can be anticipated around ₹19,500 and ₹20,000-mark. Immediate support for the stock is visible at ₹18,150; below which the stock may seek support around ₹17,800 and ₹17,100 levels. 

 

 

Dr Lal PathLabs

Current Price: ₹3,255  Likely Target: ₹3,550  Upside Potential: 9.1%  Support: ₹3,230; ₹3,150; ₹3,115  Resistance: ₹3,350; ₹3,410; ₹3,500  The short-term bullish pivot for Dr Lal PathLabs stands at ₹3,230; below which support for the stock is seen at ₹3,150 and ₹3,115 levels. On the upside, the stock faces near resistance around ₹3,320; above which a rally towards ₹3,550 seems likely. The stock may face interim resistance around ₹3,350, ₹3,410 and ₹3,500 levels. 

 

 

Housing And Urban Development Corporation (Hudco)

Current Price: ₹239  Likely Target: ₹295  Upside Potential: 23.4%  Support: ₹230  Resistance: ₹240; ₹243; ₹253; ₹260; ₹277  Hudco stock has been trading around its higher-end of the Bollinger Bands for the last four trading sessions, and seen facing resistance around ₹240. Above which, the weekly trend line indicates likely resistance at ₹243. 

 

  The stock needs to clear these 2 hurdles for a likely rally towards ₹295. Intermediate resistance can be expected around ₹253, ₹260 and ₹277 levels. The short-term trend is likely to remain favourable as long as the stock holds above its 20-Day Moving Average (20-DMA), which stands at ₹230.

  Godrej Consumer Products

Current Price: ₹1,165  Likely Target: ₹1,300  Upside Potential: 11.6%  Support: ₹1,158; ₹1,140; ₹1,127  Resistance: ₹1,177; ₹1,203  Immediate support for Godrej Consumer stands at ₹1,158, below which following key support levels for the stock stand at ₹1,140 and ₹1,127. On the upside, the stock needs to sustain above the 200-DMA and the 100-DMA hurdles, which stand at ₹1,177 and ₹1,203 levels; for a likely rally towards ₹1,300.