Both stocks show potential for over 10% upside in the near term, supported by volume action and trend reversals.
Two stocks are catching the eye of investors. SEBI-registered analyst Palak Jain has identified bullish swing trade setups in BEML and Navkar Corporation, driven by technical breakouts, strong volume, and solid fundamentals.
BEML
She noted an inverse head and shoulder pattern breakout above significant resistance levels, supported by a volume buildup and clear trend reversal on the weekly chart for BEML. Jain added that it was the ‘cleanest setup for a medium-term swing’, with a previous resistance now turning into a strong support level.
The government PSU has reported consistent multi-quarter revenue growth, maintained a steady order book, and gained importance in the defense and rail spheres. Additionally, the management’s expansion plans add to the long-term growth confidence.
Jain recommended buying BEML stock above ₹4,490, with a stop loss at ₹4,040, for target prices of ₹4,625, ₹4,760, and ₹5,029, indicating over 10% upside potential.
Data on Stocktwits showed that retail sentiment had turned from ‘bearish’ to ‘neutral’ a day ago on this counter.
BEML shares have risen 10% year-to-date (YTD).
Navkar Corporation
Palak Jain has flagged a breakout from downtrend resistance on substantial volume, with the stock taking support at a clear horizontal zone. Technical and volume action signals reversals, offering a favorable swing setup.
In terms of fundamentals, the company has steady cash flows and operational efficiency in the logistics and ports business. Jain noted that the management was actively focusing on capacity utilization and service expansions.
She recommended buying Navkar above ₹130.40, with a stop loss at ₹116 and target prices of ₹134, ₹138, and ₹146, indicating over 10% upside potential.
Data on Stocktwits showed that retail sentiment has been ‘neutral’ for a month on this counter.
Navkar Corporation shares have declined 25% year-to-date (YTD).
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