Trade Spotlight: How should you trade CAMS, Nippon Life India, Aditya Birla Capital, Indian Hotels, Shyam Metalics, Supriya Life, and others on April 3?

CAMS has pulled back towards the 40-day exponential moving average support (Rs 3,654) and has witnessed buying interest. We expect this consolidation to break out on the upside.

Strategy: Buy

Target: Rs 3,975

Stop-Loss: Rs 3,690

Nippon Life India Asset Management | CMP: Rs 593.75

Nippon Life India has broken out of a Bullish Flag pattern on the daily charts, suggesting the resumption of the next leg of the upmove. The breakout, accompanied by above-average volume, suggests broader participation in the direction of the trend.

Strategy: Buy

Target: Rs 631

Stop-Loss: Rs 580

REC | CMP: Rs 424.55

REC has pulled back to the 20-day average (Rs 417) and witnessed buying interest. It has formed a Hammer pattern on the daily charts, which has bullish implications. A rise in volume also suggests bullish sentiment.

Strategy: Buy

Target: Rs 461

Stop-Loss: Rs 417

Sudeep Shah, the Deputy Vice President and Head of Technical and Derivative Research at SBI Securities

Aditya Birla Capital | CMP: Rs 190.16

Aditya Birla Capital has given a Bullish Pennant pattern breakout on Wednesday. This breakout is confirmed by relatively higher volume. In addition, it has formed a sizeable bullish candle on the breakout day, which adds strength to the breakout. Most noteworthy, the stock has surged above its 200-day EMA level for the first time since November 2024, which is a bullish sign.

The daily RSI is in bullish territory and is in rising mode. The trend strength indicator, Average Directional Index (ADX), is at 28.15 and is rising, which indicates strength. The +DI is much above the -DI. This structure is indicative of bullish strength in the stock. Hence, we recommend accumulating in the zone of Rs 190-191 with a stop-loss at Rs 183. On the upside, it is likely to test the level of Rs 206 in the short term.

Strategy: Buy

Target: Rs 206

Stop-Loss: Rs 183

Indian Hotels Company | CMP: Rs 830.15

On March 25, Indian Hotels formed a Bearish Engulfing candlestick pattern and thereafter witnessed a throwback. The throwback was halted near the 20-day EMA level and coincided with the 50 percent Fibonacci retracement level of its prior upward rally (Rs 703.20-858). The stock has formed a strong base near the support zone and witnessed a strong rebound. Currently, the stock is trading above its short- and long-term moving averages.

Further, the daily RSI is in bullish territory. The daily MACD (Moving Average Convergence Divergence) stays bullish as it is quoting above its zero line and signal line. Hence, we recommend accumulating in the zone of Rs 833-827 with a stop-loss of Rs 798. On the upside, it is likely to test the level of Rs 910 in the short term.

Strategy: Buy

Target: Rs 910

Stop-Loss: Rs 798

Shyam Metalics and Energy | CMP: Rs 914.4

Shyam Metalics and Energy has given a consolidation breakout on a daily scale. This breakout was supported by a robust volume of more than five times the 50-day average volume, indicating strong buying interest by market participants. The 50-day average volume was 4.32 lakh, while on Wednesday the stock registered a total volume of 23.39 lakh. Currently, the stock is trading above its short- and long-term moving averages. These averages are on a rising trajectory, which is a bullish sign.

Further, the daily RSI is in the super bullish zone, as per RSI range shift rules. Hence, we recommend accumulating in the zone of Rs 915-905 with a stop-loss of Rs 870. On the upside, it is likely to test the level of Rs 1,010 in the short term.

Strategy: Buy

Target: Rs 1,010

Stop-Loss: Rs 870

Vidnyan S Sawant, Head of Research at GEPL Capital

Mangalore Chemicals & Fertilizers | CMP: Rs 167.01

Mangalore Chemicals maintains a higher top and higher bottom formation on the monthly scale. On the weekly chart, buying interest emerged from the 61.8% Fibonacci level, leading to a rebound from a double-bottom formation. It is sustaining above the 12 and 26-week EMAs, while the RSI nearing 60 indicates improving momentum.

Strategy: Buy

Target: Rs 200

Stop-Loss: Rs 154

Supriya Lifescience | CMP: Rs 786.4

Supriya Lifescience maintains a strong uptrend across timeframes, reinforcing its bullish outlook. On the monthly scale, a key polarity shift has turned the 2022 resistance into a solid support zone, indicating a strong base for long-term growth. On the weekly chart, the stock has been forming higher highs and higher lows since November 2023, with a bullish mean reversion from the 50-week EMA confirming sustained buying interest. Momentum-wise, the RSI is nearing 60 after a bullish crossover, signaling strengthening momentum and increasing buying pressure, further validating the ongoing uptrend.

Strategy: Buy

Target: Rs 906

Stop-Loss: Rs 732

Gabriel India | CMP: Rs 597.25

Gabriel India has displayed strong bullish momentum across timeframes. On the monthly scale, it continues to form higher tops and higher bottoms. On the weekly chart, the stock has formed a double-bottom pattern at the December 2023 polarity level, attracting buying interest and breaking out above the September 2024 swing high, indicating positive structural development. Additionally, the MACD remains in buy mode on the weekly scale, reinforcing the bullish outlook.

Strategy: Buy

Target: Rs 665

Stop-Loss: Rs 560

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