Technical analysts are focusing on mid-cap stocks like CCL Products and Marksans Pharma, given the current market trends. Both stocks' charts indicate bullish patterns, potentially signaling a breakout in the coming sessions.
In recent weeks, certain mid-cap stocks have captured investors' attention in the stock market. Specifically, CCL Products (India) and Marksans Pharma shares are showing bullish signals. Both companies' stocks have demonstrated b trends and breakouts on technical charts, indicating the potential for significant price increases in the future.
'Higher High-Higher Low' Pattern Reviving Momentum
CCL Products shares have gained momentum in the past few weeks. Technical analysis experts suggest that the stock has now entered a 'higher high-higher low' pattern. This pattern is generally viewed as a sign of strength, indicating that the stock is gradually rising while making higher levels.
Additionally, the stock has exhibited a V-shaped recovery recently. This signifies that the share has rebounded with the same speed after a decline, demonstrating that investor interest is returning to this stock.
ADX Indicator Suggests a Strong Trend
According to analyst Osho Krishna, the ADX (Average Directional Index) indicator on both daily and weekly charts shows that the stock has now established a b trend. This trend is pointing towards a bullish outlook.
If the share experiences a dip around 880 to 870 rupees in the coming days, buying opportunities may arise at that level. Market analysts suggest that potential upside targets for this stock could be around 1000 to 1020 rupees. Conversely, the level of 810 rupees is seen as a crucial stop-loss.
Increased Investor Interest in the Market
Considering CCL Products' current performance, it appears that investors are being drawn back to this share. Notably, the company is a well-known name in coffee exports and has a substantial list of global clients. Consequently, the company's fundamental position also makes it a b candidate.
Marksans Pharma: New Hope from 'Inverted Head and Shoulders' Breakout
On the other hand, Marksans Pharma, a company in the pharma sector, is also on investors' radar. This share has gradually moved upward in recent trading sessions and is now trading above all its short-term moving averages. This indicates that the share is gaining internal strength.
Technical Breakout Inspiring Optimism
A breakout of the 'Inverted Head & Shoulder' pattern has been observed on Marksans Pharma's daily chart. In technical analysis, this pattern is considered a b bullish signal. This pattern's formation often increases the possibility of a surge in the share price in the future.
Moreover, a positive crossover has also been seen in the MACD (Moving Average Convergence Divergence) indicator. The MACD crossover suggests that the existing uptrend in the stock is being supported and that the bullish momentum may persist for some time.
Bullish Sentiment Building from Technical Signals
Bullish patterns have formed on the charts of both CCL Products and Marksans Pharma. While CCL is exhibiting a 'higher high-higher low' trend, Marksans Pharma is experiencing an 'Inverted Head & Shoulder' breakout. Both of these signals are viewed as early indicators of bullishness in technical analysis.
Eyes on These Levels
CCL Products:
- Buying Level: 880 to 870 rupees
- Potential Target: 1000 to 1020 rupees
- Stop-Loss: 810 rupees
Marksans Pharma:
- Buying Level: 260 rupees
- Potential Target: 290 to 300 rupees
- Stop-Loss: 240 rupees
Amidst the market's movements and global signals, investors are keeping a close watch on every movement of these two shares. It will be interesting to see the direction in which their prices move in the coming weeks.
