Trade Spotlight: How should you trade Kaynes Technology, Jindal Stainless, Hero MotoCorp, CCL Products, Grasim Industries and others on August 5?

Recently, Kaynes Technology reversed after testing its trendline and successfully broke above the descending trendline with strong volume, signalling renewed buying interest. This breakout, supported by increased participation, indicates a shift in trend. From a technical standpoint, the MACD has generated a bullish crossover near the zero line, which often acts as a reliable confirmation of building momentum. This confluence of price breakout and indicator strength suggests that the stock may be entering a new upward phase.

Traders should monitor follow-through price action for confirmation, as the setup points toward a potential continuation of the bullish trend in the near term. Traders may consider entering long positions in the Rs 6,300–6,200 zone.

Strategy: Buy

Target: Rs 6,900

Stop-Loss: Rs 6,000

Mazagon Dock Shipbuilders | CMP: Rs 2,767.2

Mazagon Dock Shipbuilders has recently experienced a significant correction from its peak of Rs 3,775, resulting in a 30% decline. At the current juncture, the price has tested the 200-day exponential moving average (DEMA) and the 200-day simple moving average (SMA), as indicated in the chart. Historically, Mazagon Dock Shipbuilders has signalled a bullish reversal after testing both averages. Additionally, volume has been increasing from the recent low, observed on both daily and hourly scales. Traders may consider entering long positions in the Rs 2,780–2,750 zone.

Strategy: Buy

Target: Rs 3,100

Stop-Loss: Rs 2,550

Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities

Jindal Stainless | CMP: Rs 728

Jindal Stainless Futures has provided a breakout from sideways consolidation, accompanied by a decrease in open interest, indicating short covering. Since the stock was introduced in the F&O segment, it has mostly witnessed short buildup. Now, with this strong upward momentum, the stock is likely to see further short covering.

On the lower side, Rs 680 is a crucial support level as there have been significant Put additions, while the Rs 770 strike has the highest Call open interest, making it a near-term resistance. The stock is trading well above its maximum pain and modified maximum pain levels of Rs 700 and Rs 725, respectively. It is also trading well above its 20-day VWAP (volume-weighted average price) level of Rs 685, providing good support in the Rs 725–680 zone. Buy Jindal Stainless Futures in the range of Rs 732–738.

Strategy: Buy

Target: Rs 800, Rs 830

Stop-Loss: Rs 705

Hero MotoCorp | CMP: Rs 4,535.9

Hero MotoCorp has provided a breakout from a prolonged consolidation phase, with a decrease in open interest indicating short covering. The previous up move was also driven by short covering. The recent monthly sales numbers are positive, and with the price providing a breakout, one can expect a Rs 250 up move from the breakout level of Rs 4,400—targeting Rs 4,650, and potentially Rs 4,750 thereafter.

On the downside, immediate support lies at Rs 4,400 on a closing basis. As long as this level holds, upward price movement can be expected. The stock is trading above its 20-day VWAP, which is approximately Rs 4,300. It is also trading well above its maximum pain and modified maximum pain levels of Rs 4,400 and Rs 4,490, respectively, which will act as support in the near term. Buy Hero MotoCorp Futures in the range of Rs 4,520–4,450.

Strategy: Buy

Target: Rs 4,650, Rs 4,750

Stop-Loss: Rs 4,400

LTIMindtree | CMP: Rs 5,089

LTIMindtree Futures had fallen due to short buildup but has bounced back on account of short covering. The recent short buildup seems to have been covered, leading to consolidation. As a result, a bounce back is expected. It has taken support at the lower end of the range, making Rs 4,950 a critical support level in the near term.

Although it is trading below its maximum pain and 20-day VWAP levels of Rs 5,100 and Rs 5,160, respectively, the stock is likely to witness upward momentum. The overall IT sector is oversold, and a bounce back in the Nifty could lead to a relief rally in IT stocks. Buy LTIMindtree Futures in the range of Rs 5,070–5,050.

Strategy: Buy

Target: Rs 5,300, Rs 5,400

Stop-Loss: Rs 4,950

Vidnyan S Sawant, Head of Research at GEPL Capital

CCL Products | CMP: Rs 927.6

CCL Products has been forming higher bottoms on the monthly chart since 2020, highlighting a strong and sustained long-term uptrend. On the weekly timeframe, the stock bounced from its 200-week EMA in April 2025 and has maintained upward momentum. It is now consolidating near its all-time highs, showing relative strength amid broader market weakness. Technically, it continues to trade above its 12-week and 26-week EMAs, affirming the bullish structure. The MACD remains in buy mode, supporting the ongoing uptrend and signalling momentum strength.

Strategy: Buy

Target: Rs 1,088

Stop-Loss: Rs 875

Shyam Metalics and Energy | CMP: Rs 977.65

Shyam Metalics continues to exhibit a robust long-term uptrend, consistently forming higher highs and higher lows on the monthly chart. In July 2025, the stock broke above its September 2024 swing high, marking a new all-time high and signalling accelerating momentum. On the weekly chart, it confirmed a cup-and-handle breakout last week, supported by a bullish candlestick and strong volume, reflecting solid buyer participation. The stock trades well above its 12-week, 26-week, and 50-week EMAs, reinforcing trend strength. The MACD remains in buy mode, validating sustained bullish momentum.

Strategy: Buy

Target: Rs 1,122

Stop-Loss: Rs 927

Grasim Industries | CMP: Rs 2,787.8

Grasim Industries continues to exhibit strong bullish price action across multiple timeframes. On the weekly chart, the formation of higher highs and higher lows confirms a well-established bullish structure. On the daily timeframe, the stock witnessed a bullish mean reversion from its 100-day EMA in July 2025, signalling renewed buying interest. It remains firmly positioned above its key 5-, 12-, 25-, and 50-week EMAs, underscoring sustained trend strength. Additionally, the MACD stays in positive territory, further validating the ongoing bullish momentum.

Strategy: Buy

Target: Rs 3,070

Stop-Loss: Rs 2,679

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.