Divi's Lab, AEL, M&M among top movers & shakers in FY25; trading guide here

Among existing gainers, Divi's Lab and Shriram Finance seem poised for further gains, whereas losers IndusInd Bank and Nestle too look promising on technical charts; check key levels.

We are near about six months into the fiscal year 2024-25, and the Indian stock market has witnessed strong gains already thus far. The BSE benchmark Sensex 30 has rallied 12.7 per cent or 9,349 points and has been quoting at all-time highs in recent days. Similarly, the NSE Nifty 50 index has surged 13.7 per cent and is hovering around 25,400 levels for the first time in its life-time.

The next three months are likely to be very significant with big ticket triggers including the first US Fed rate cut since March 2020 likely tomorrow followed by other policy decisions by other global bankers, including the Reserve Bank of India (RBI). Other big triggers include how the US and China economies continue to grow, and the US Presidential elections.

 

Back to the present, out of 50 stocks in the Nifty basket, as many as 28 have outperformed the NSE benchmark so far in the financial year FY25, shows ACE Equity data. Divi's Laboratories leads the pack with a 59 per cent surge followed by Shriram Finance and Mahindra & Mahindra - up around 45 per cent each. 

Among others 14 stocks including the likes of Bharti Airtel, Infosys, Bajaj Auto, Hindustan Unilever, Hero MotoCorp, SBI Life Insurance and Grasim have gained in the range of 20 - 30 per cent each. 

 

On the other hand, there are only 9 losers so far. Adani Enterprises down nearly 7 per cent is the top laggard followed by IndusInd Bank, Larsen & Toubro, Maruti, Tata Steel and Reliance Industries among others.

Against this backdrop, here's a trading guide on the top 3 movers and shakers of FY25.

Divi's Labs

Current Price: Rs 5,533

Upside Potential: 5.6%

Support: Rs 5,255

Resistance: Rs 5,545; Rs 5,695

Divi’s Labs is seen trading with a bullish bias on the monthly scale for the fifth straight month. The long-term chart shows that the bias is likely to remain upbeat as long as the stock holds above Rs 5,255 levels. The price-to-moving averages action remains favourable across time-frames. CLICK HERE FOR THE CHART

On the upside, the stock can potentially aim for the Golden ratio (1.618 per cent) retracement of the calendar year 2023, indicating an upside target of Rs 5,845 levels. Interim resistance can be expected around Rs 5,545 and Rs 5,695. 

Shriram Finance

Current Price: Rs 3,449

Upside Potential: 11.1%

Support: Rs 3,380

Resistance: Rs 3,445; Rs 3,610

Shriram Finance stock has been treading along its higher-end of the Bollinger Bands on the weekly and monthly scale. The key momentum oscillators on the weekly scale are in extremely overbought conditions, with Slow Stochastic showing some signs of peaking out. 

Having said that, the overall bias is likely to remain upbeat as long as the stock holds above Rs 3,380 levels. On the upside the stock can rally to Rs 3,832 levels; with interim resistance likely around Rs 3,445 and Rs 3,610 levels, shows the half yearly Fibonacci chart. CLICK HERE FOR THE CHART

Mahindra & Mahindra (M&M)

Current Price: Rs 2,781

Downside Risk: 15.5%

Support: Rs 2,725

Resistance: Rs 2,844

Mahindra & Mahindra stock has witnessed a notable 11 per cent correction from its peak of Rs 2,990 hit in June 2024. At present, the stock is seen facing resistance around its super trend line on the daily scale at Rs 2,844 levels. The stock will need to conquer the same in order to revive the mood. As such, on the upside, the stock can attempt a rally towards Rs 3,000-mark. CLICK HERE FOR THE CHART

On the flip side, the stock is seen testing support around its 20-WMA (Weekly Moving Average) at Rs 2,725 levels. The stock has maintained above this key moving average since November 2023. Break and sustained trade below the same can see the stock fall to Rs 2,350 levels.

Adani Enterprises (AEL)

Current Price: Rs 2,965

Downside Risk: 8.4%

Support: Rs 2,970; Rs 2,830; Rs 2,780

Resistance: Rs 3,115

Adani Enterprises has been trading below its key moving averages on the daily scale, clearly showcasing the bearish bias at the counter. The medium-term chart suggests that the stock seems trapped in a broad range of Rs 2,715 - Rs 3,400; with interim support seen at Rs 2,970, Rs 2,830 and Rs 2,780 levels. On the other hand, interim resistance can be expected around Rs 3,115. CLICK HERE FOR THE CHART

IndusInd Bank

Current Price: Rs 1,474

Upside Potential: 14%

Support: Rs 1,430; Rs 1,386

Resistance: Rs 1,473; Rs 1,503; Rs 1,535

Today, IndusInd Bank stock is seen attempting a breakout above its 200-DMA, which stands at Rs 1,473; above which immediate resistance for the stock is seen at Rs 1,503. The momentum oscillators have turned favourable on the medium-term scale; hence the stock may attempt a pullback. On the upside, the stock can potentially rally to Rs 1,680 with some resistance around Rs 1,535 levels.

Going ahead, in case of a dip, the stock is likely to seek support around Rs 1,430 and Rs 1,386 levels. CLICK HERE FOR THE CHART

Nestle India

Current Price: Rs 2,574

Upside Potential: 8.9%

Support: Rs 2,520

Resistance: Rs 2,580; Rs 2,600; Rs 2,625

Nestle India is seen testing resistance at its super trend line on the daily scale at Rs 2,580 levels. Breakout above the same can open the doors for further gains up to Rs 2,755 - Rs 2,800 levels; interim resistance is seen placed at Rs 2,600 and Rs 2,625 levels. For now, the stock seems to have found support around Rs 2,520. CLICK HERE FOR THE CHART