Indian Markets Rangebound, But SEBI Analysts Flag 3 Stocks With Bullish Technical Signals

Analysts see fresh upside potential in Sai Life Sciences, Alpex Solar, and Indian Bank.

Indian equity markets remain stuck in a tight range as a lack of directional triggers keeps the sentiment subdued. But SEBI-registered analysts have flagged a few stocks with breakout potential ahead. 

Let’s take a look at their stock recommendations: 

Sai Life Sciences 

Analyst Palak Jain has flagged Sai Life Sciences as the stock has broken out above a significant resistance level, indicating a potential upward trend.

Its technical chart shows a channel formation, suggesting a potential continuation of the uptrend. And the surging trading volumes support the breakout and indicate a strong investor interest in the stock.

Analyst Varunkumar Patel too shared a buy call on Sai Life. He recommended entering at ₹895-₹900, with a stop loss of ₹795 for a target price of ₹1,049 over a one-month timeframe.

Alpex Solar 

Jain’s second pick is Alpex Solar as technicals suggest potential for further gains. She recommended buying with a target price of ₹1,400-₹1,450, and a stop loss of ₹1,275. 

The stock has seen a decisive breakout above a significant resistance level, accompanied by a good volume buildup, indicating a potential upward trend.

She believes that the company's growth prospects in the solar energy sector, driven by increasing demand for renewable energy sources, could be a key driver of its stock performance.

Indian Bank

And analyst Vinay Taparia flagged a breakout in Indian Bank, with the stock trading at an all-time high. Its Relative Strength Index (RSI) stands near 70. 

He predicts an upside till ₹750 in the short term, but a close below ₹640 negates this view.

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