Trade Spotlight: How should you trade Sumitomo Chemical, Prestige Estates, Kalyan Jewellers, Sharda Cropchem, Godfrey Phillips and others on July 21?

Venus Pipes has confirmed a bullish reversal with a breakout above the Inverted Head and Shoulders pattern at Rs 1,555, supported by a strong bullish candle and a notable surge in volume. Last week, the stock successfully retested the breakout zone and rebounded sharply, reinforcing the breakout and paving the way for a sustained rally. Elevated volume during the breakout highlights strong market participation, lending further credibility to the move. The weekly RSI remains above its signal line, underscoring positive momentum and a firm upward bias.

Strategy: Buy

Target: Rs 1,800, Rs 1,935

Stop-Loss: Rs 1,560

Sumitomo Chemical India | CMP: Rs 606.15

On the daily and weekly charts, Sumitomo Chemical has experienced an 8–10 month downsloping trendline breakout at Rs 575 on a closing basis, which supports bullish sentiment. Rising volumes over the past three weeks signify increased participation. Additionally, the stock has witnessed buying and accumulation around the 61.8% Fibonacci support zone (Rs 447), which remains a crucial support level. The stock is now trading well above its 20-, 50-, 100-, and 200-day SMAs, reconfirming a bullish trend. The RSI across daily, weekly, and monthly timeframes reflects rising strength.

Strategy: Buy

Target: Rs 655, Rs 735

Stop-Loss: Rs 590

Prestige Estates Projects | CMP: Rs 1,782.2

With last week's price action, Prestige Estates has decisively surpassed a one-year downsloping trendline breakout at Rs 1,730, indicating a strong comeback by bulls. The move was accompanied by huge volumes, suggesting increased participation. A daily Bollinger Band buy signal indicates rising momentum. The RSI on daily, weekly, and monthly timeframes also shows increasing strength.

Strategy: Buy

Target: Rs 1,950, Rs 2,100

Stop-Loss: Rs 1,685

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

Kalyan Jewellers India | CMP: Rs 590.15

Kalyan Jewellers has demonstrated a robust recovery in the current fiscal year and has now surpassed all major EMAs on the daily chart. The stock has broken out of both a ‘Cup and Handle’ pattern on a broader structure and a ‘Flag’ pattern in the near term, indicating potential for short-term momentum. The alignment of momentum indicators with the Super Trend further supports the prevailing trend, pointing to the likelihood of sustained momentum.

Strategy: Buy

Target: Rs 680

Stop-Loss: Rs 540

Sharda Cropchem | CMP: Rs 839.75

Sharda Cropchem has seen a decisive surge, followed by some profit booking after a ‘Rounding Bottom’ breakout. The stock is currently trading above all its significant EMAs and the 200-day SMA. The recent movement has been backed by rising trading volumes, indicating positive momentum. Additionally, the stock has shown a higher low formation on the daily chart and has triggered a positive crossover on technical indicators, adding to the bullish bias. We recommend buying on dips near Rs 820.

Strategy: Buy

Target: Rs 920

Stop-Loss: Rs 760

SMS Pharmaceuticals | CMP: Rs 251.55

SMS Pharmaceuticals has experienced a gradual resurgence over the last few trading sessions, leading to a strong weekly close. The stock is now positioned above all its short-term EMAs and the 200-day SMA on the daily timeframe after an extended period, indicating inherent strength likely to continue in the near term. The stock has also witnessed a ‘Sloping Trendline’ breakout and is backed by a positive MACD crossover, supporting ongoing bullish momentum.

Strategy: Buy

Target: Rs 275, Rs 285

Stop-Loss: Rs 227

Anshul Jain, Head of Research at Lakshmishree Investment

Godfrey Phillips India | CMP: Rs 9,355.5

Godfrey Phillips is on the verge of a bullish breakout from a 46-day Cup and Handle pattern on the daily charts, with the breakout level near Rs 9,400. The base formation shows clear signs of institutional accumulation, supported by strong volume candles. The stock is trading in a tight range, which often precedes a large directional move. Momentum indicators have cooled off and are now well-aligned for a fresh breakout. A sustained move above Rs 9,400 could trigger a sharp uptrend in the short term.

Strategy: Buy

Target: Rs 10,300

Stop-Loss: Rs 9,000

Jubilant Pharmova | CMP: Rs 1,232

Jubilant Pharmova has broken out of a 152-day Cup and Handle pattern on the daily chart, also resembling a classic rounding base, with the breakout level at Rs 1,220. Although volumes during the breakout were subdued, the base includes multiple institutional accumulation candles, and the tight consolidation zone lends strength to the breakout structure. The breakout candle is strong and well-formed, reflecting bullish intent. Momentum indicators are catching up, and the weekly MACD has turned bullish, supporting a sustained upmove in the sessions ahead.

Strategy: Buy

Target: Rs 1,400

Stop-Loss: Rs 1,145

Kellton Tech Solutions | CMP: Rs 140.18

Kellton Tech has broken out of a 24-day bullish Cup and Handle pattern, supported by a sharp volume spike — over 435% of its 50-day EMA — indicating strong institutional activity. The base was short and tight, with over three visible institutional accumulation candles, clearly showing institutional interest. The last two sessions have seen a low-volume, narrow-range pullback, which typically suggests bullish continuation. With the structure, volume, and price action aligned, the stock appears poised for a sustained upmove in the near term.

Strategy: Buy

Target: Rs 165.5

Stop-Loss: Rs 134.5

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.