Tree House Education, Ansal Housing, MRPL: Strategies for buzzing stocks

Is there more steam left in these counters, or is it time to take money off the table? Here's what technical charts suggest.

Even as the broader market traded on a nervouss note given the macro-economic growth, rising rates and high inflation worries, select stocks have managed to outperform the markets by a wide margin.
 

One of the notable stock among them is MRPL - it has surged over 50 per cent from Friday’s lows of Rs 82.35, similarly, Mangalore Chemicals & Fertilizers has gained 30 per cent in the current week, and has appreciated as much as 66 per cent in the last two weeks. 

Among others, Tree House Education and Accessories, Ansal Housing and Noida Toll Bridge Company have soared over 50 per cent each in the last one week and a lot of interest can be seen in these stocks as the recent volume addition looks impressive. 

As data shows, these stocks have defied gravity and gained significantly in the past one week, is s there more steam left in these counters, or is it time to take money off the table? Here's what technical charts suggest:

Mangalore Refinery & Petrochemicals Ltd (MRPL)

Likely target: Rs 150 and Rs 170

Upside potential: 16% to 30%

The stock has not only gained 50 per cent in the last five trading sessions, but also tripled since April 2022. The stock recently hit an all-time high at Rs 128.90 and upon hitting a new historic peak, the counter could see a further breakout in the direction of Rs 150 and Rs 170. The support for the stock comes at Rs 100. The RSI divergence exhibits a robust potential for the stock to counter the selling pressure, shows the daily chart. CLICK HERE FOR THE CHART

Mangalore Chemicals & Fertilizers Ltd (MANGCHEFER)

Likely target: Rs 150

Upside potential: 30%

The V-shaped recovery from the 200-day moving average (DMA) in the recent times reflects a firm bullish undertone, according to the daily chart set-up. The volume additions with price jump further affirms the strength at the counter. The broader trend suggests a positive direction towards Rs 150 level as the Moving Average Convergence Divergence (MACD) conquered the zero line upward displaying a positive bias. The immediate support for the stock exists at Rs 110, which needs to be considered on a closing basis. CLICK HERE FOR THE CHART

Tree House Education and Accessories Ltd (TREEHOUSE)

Likely target: Rs 18

Upside potential: 20%

The stock has claimed a new territory by striking a fresh 52-week high at Rs 14.85, and freezing at upper circuit on Thursday. Now, every close above Rs 13, which was the previous obstacle, could see fresh upward rallies. This counter might see Rs 18 level in the coming sessions, shows the daily chart. The immediate support comes at Rs 11 and Rs 9 levels. CLICK HERE FOR THE CHART

Ansal Housing Ltd (ANSALHSG)

Likely target: Rs 12

Upside potential: 25% to 40%

Post March 2020, the shares of Ansal Housing were seen rising upwards with the formation of “Higher High, Higher Low”, shows the weekly chart. Now, this set-up exhibits a secured support of Rs 6 and until this mark is protected on a weekly basis, the counter could see a sharp surge to Rs 12 and Rs 15 levels. CLICK HERE FOR THE CHART 

Noida Toll Bridge Company Limited (NOIDATOLL)

Outlook: Needs to sustain over Rs 9

Noida Toll Bridge is making efforts to sustain above Rs 9 mark on a weekly basis, its major resistance. As and when this happens, the stock could fetch higher rallies on a breakout. Until then, the support for the stock at Rs 6 continues to remain the backbone, shows the weekly chart. CLICK HERE FOR THE CHART