Trade Spotlight: How should you trade Eicher Motors, HDFC Life, Manappuram Finance, UNO Minda, Tube Investments, PB Fintech, and others on August 18?

Manappuram Finance has demonstrated a robust recovery over the last couple of trading weeks and has now surpassed all major EMAs on the daily chart. The stock has retraced to the neckline of the breakout and has gained traction again, suggesting potential for increased momentum in the short term. The alignment of momentum indicators with the positive crossover among EMAs and a robust increase in trading volumes during the recent period indicates the likelihood of sustained momentum in the foreseeable future. We recommend buying the stock around Rs 264–260.

Strategy: Buy

Target: Rs 294, Rs 300

Stop-Loss: Rs 245

Titan Company | CMP: Rs 3,489.4

Titan Company has seen a decent surge in recent times, followed by consolidation resembling a ‘Double Bottom’ pattern on the daily chart structure. The stock has been hovering slightly above its 20 DEMA, with bullish bias. Additionally, the counter has witnessed a higher low formation on the daily chart and has showcased a positive crossover on technical indicators, adding to the bullish sentiment. The SuperTrend has also turned bullish after the recent surge. From a risk-reward point of view, the counter is firmly aligned with a favourable setup for the short to medium term. Hence, we recommend buying Titan around Rs 3,480–3,460.

Strategy: Buy

Target: Rs 3,630, Rs 3,680

Stop-Loss: Rs 3,350

UNO Minda | CMP: Rs 1,149.8

UNO Minda has recently experienced a notable spurt in price and volume, characterized by a multi-week breakout. Additionally, the stock has been trading at new highs in the current calendar year, with favourable technical parameters suggesting a bullish bias. From a technical perspective, the MACD indicator has demonstrated a positive crossover around the zero line, contributing to an optimistic outlook for the stock. Hence, we recommend buying UNO Minda around Rs 1,120–1,100.

Strategy: Buy

Target: Rs 1,250, Rs 1,260

Stop-Loss: Rs 1,040

Jay Mehta, Technical Research at JM Financial Services

Tube Investments of India | CMP: Rs 3,063.6

Tube Investments of India, after breaking out from a double bottom pattern, was trading within a wedge formation. Recently, it broke above the wedge and is currently trading above its 20-day and 50-day EMAs, approaching its 200-day EMA. A breakout above the 200-day EMA could further strengthen its bullish momentum. Rising volumes indicate strong buying interest, supporting the bullish outlook.

The stock has shown good relative strength and has outperformed the Nifty over the last 6 months. On the daily chart, the RSI stands at 63 with a positive crossover, trending upward, while the rising MACD histogram signals robust momentum. A bullish Marubozu candle on the weekly chart reinforces the strong continuation pattern.

Strategy: Buy

Target: Rs 3,400, Rs 3,550

Stop-Loss: Rs 2,844

TBO Tek | CMP: Rs 1,444

TBO Tek was trading in a descending triangle pattern since June 30 but recently broke out above it. It has reclaimed its position above the 200-day EMA and is trading above all key short- and long-term moving averages. Volume is gradually increasing on the positive side, indicating growing buying interest.

The daily RSI is at 63 and is maintaining its position above 50 levels, showing strong stock strength and suggesting that every small fall is countered with good buying interest. The rising MACD histogram supports continued bullish momentum. The stock exhibits relative strength and has outperformed the Nifty in the past 3 months. The immediate resistance is at Rs 1,508, and a breakout above this level could trigger a significant upward move.

Strategy: Buy

Target: Rs 1,582, Rs 1,600

Stop-Loss: Rs 1,363

PB Fintech | CMP: Rs 1,834.2

PB Fintech was in a long consolidation phase after a bearish gap-down on January 13. On June 4, it broke above the consolidation pattern, filling the bearish gap between Rs 1,800–1,840. Subsequently, it marked a high of Rs 1,978, then entered a tight wedge consolidation. On August 11, the stock broke out above the wedge with strong volume, signaling robust buying interest.

It is trading above all key moving averages, with the daily RSI above 50 and a rising MACD histogram, indicating sustained bullish momentum. The stock has shown good relative strength and has outperformed the Nifty over the last 6 months. The price can test the recent swing high of Rs 1,978, and sustaining above this level could open the path to higher levels.

Strategy: Buy

Target: Rs 1978, Rs 2,100, Rs 2,170

Stop-Loss: Rs 1,709

Hardik Matalia, Derivative Analyst at Choice Broking

Eicher Motors | CMP: Rs 5,764

Eicher Motors has recently given a breakout from a Symmetric Triangle formation on the daily chart. Prior to this breakout, the stock had undergone a consolidation phase at higher levels, indicating healthy profit booking and base building. The breakout has been supported by consistent trading volumes, reflecting strong participation and growing investor confidence.

If the stock manages to sustain above the Rs 5,800 level, it could pave the way for further upside, potentially leading to new lifetime highs. Such price action would confirm the continuation of the prevailing bullish trend.

The Relative Strength Index (RSI) stands at 66.14, trending strongly upwards, highlighting strengthening momentum and buying interest. Additionally, the stock is comfortably holding above all its key moving averages — short-term, medium-term, and long-term EMAs — underlining its strong underlying trend.

Strategy: Buy

Target: Rs 6,350

Stop-Loss: Rs 5,475

HDFC Life Insurance Company | CMP: Rs 788.75

HDFC Life Insurance remains in a long-term uptrend, consistently forming higher highs and higher lows over the past few months. Recently, after hitting a record high, the stock witnessed a healthy retracement toward its demand zone. From this support area, it has staged a reversal, also forming a Double Bottom pattern on the daily timeframe — a classic bullish reversal formation.

If the stock manages to sustain above the Rs 800 mark, it could further extend its bullish trajectory and head higher toward the Rs 875 level. Such a move would reinforce the prevailing trend and signal renewed buying momentum.

The RSI stands at 65.46 and is trending upwards, highlighting strong positive momentum. Furthermore, the stock has reversed from its demand zone and has reclaimed both its short-term and medium-term EMAs, signaling a revival of buying interest. From a price action standpoint, the formation of a Double Bottom coupled with a rebound from key support levels suggests that buyers are firmly regaining control.

Strategy: Buy

Target: Rs 875

Stop-Loss: Rs 745

State Bank of India | CMP: Rs 826.55

SBI has witnessed a bounce from lower levels after a period of range-bound movement. Recently, the stock has been trading within a parallel channel, indicating a phase of consolidation with defined support and resistance levels. Taking support from the lower boundary of this channel, the stock is now showing early signs of a potential reversal.

A sustainable move above the Rs 840 mark could act as confirmation of this reversal, paving the way for further upside in the near term. Such a breakout would signal renewed bullish momentum and open the door for a move toward higher targets.

The RSI is at 62.71, trending upwards, indicating improving strength in the underlying trend. Additionally, SBI has taken support from its long-term EMA and has successfully moved above both its short-term and medium-term EMAs, highlighting a strengthening technical structure. From a price action perspective, the channel support and EMA alignment suggest that buyers are gradually regaining control, with the current zone offering a favourable risk-reward setup.

Strategy: Buy

Target: Rs 910

Stop-Loss: Rs 785

Om Mehra, Technical Research Analyst, SAMCO Securities

Aditya Birla Capital | CMP: Rs 273

Aditya Birla Capital has rebounded from the 50-day SMA, while the 20-day SMA and the 9-DEMA are providing layered support beneath the current price. The recent candles reflect a higher high formation after the early August low, signalling a steady recovery.

The RSI has improved to 55 from the neutral zone, indicating strengthening momentum. The MACD has crossed above the zero line, with the histogram turning positive, supporting the emerging bullish tone. There has been a decent rise in delivery-based participation, highlighting that the trend continuation is likely to remain intact. The price is now positioned above multiple moving averages, creating a strong base for a short-term pullback.

Strategy: Buy

Target: Rs 286

Stop-Loss: Rs 266

Endurance Technologies | CMP: Rs 2,602.20

Endurance Technologies has moved above the mid-Bollinger band, signalling the early stages of a recovery phase after consolidation. The stock displays a higher lows formation, with multiple moving average supports clustering near the Rs 2,550–2,570 zone.

The RSI has improved to 52 from the mid-40 levels, indicating a pickup in momentum. The MACD is turning higher toward a potential bullish crossover, and the histogram is printing green bars. The weekly candle has a follow-up green close, hinting at the potential for expansion on the higher side.

A notable rise in volumes on up-days further validates accumulation at current levels. The overall setup suggests a continuation if the stock sustains above immediate supports.

Strategy: Buy

Target: Rs 2,740

Stop-Loss: Rs 2,530

GMR Airports | CMP: Rs 90.77

GMR Airports has registered a strong bounce from the lower boundary of a falling channel. The recovery has pushed the price back above the 9-day and 20-day SMAs, with the daily SuperTrend also providing underlying support. The stock displays a cup-and-handle pattern, providing additional confirmation of a bullish setup.

The RSI has improved to 53 from the neutral zone, suggesting strengthening momentum. The MACD is edging toward a potential bullish crossover. The stock’s recent rebound also aligns with the neckline zone of a prior cup formation, adding strength. The volume trend shows steady participation alongside the price rise, strengthening the setup. Any short-term pullback toward the Rs 89.50 zone would offer a better range entry.

Strategy: Buy

Target: Rs 94.50

Stop-Loss: Rs 88.30

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