Stocks of some battery makers can jump up to 25%

2. Exide Industries Limited

The counter is losing momentum as it has formed a “Death Cross” ( 200-DMA converging 50-DMA), as per the daily chart. However, if the RSI manages to jump above the oversold territory with strong positive close, then the downside bias may get arrested and the stock may consolidate for a while before it regains strength. The next immediate support comes at Rs 150 levels.

3. HBL Power Systems Limited

Likely target: Rs 55

Upside potential: 12%

Though the counter has broken its 50-DMA, as long as the support of Rs 40 level is held, which is its 100-DMA, the positive bias will remain intact. The 50-DMA and 100-DMA are placed at Rs 49.10 and Rs 42.50 levels, respectively. Going forward, a decisive close above 50-DMA may trigger a rally towards Rs 55 levels, as per the daily chart.

4. High Energy Batteries (India) Ltd

Likely target: Rs 2,200

Upside potential: 10%

Since June 2021, High Energy Batteries has gained over 300 per cent to Rs 2,921 levels with the stock hitting the upper circuit frequently. That said, there was some profit booking given the sharp rally and the scrip corrected towards the Rs 1,900 levels. However, as long as the 50-days moving average (DMA) is protected, which is currently trading at Rs 1,701, the medium-term outlook is intact and the stock is expected to show positive reversal and head towards Rs 2,200 levels.

5. Indo National Ltd

Likely target: Rs 1,200 and Rs 1,300

Upside potential: 16% to 25%

The formation of a “Golden Cross” on the weekly chart suggests a positive outlook from a medium-term perspective. The overall trend suggests that the stock is heading towards Rs 1,500 levels going ahead.As long as the medium-term support of Rs 900 levels is held, the reversal may deliver unexpected returns in the near future and the counter can even jump as much as 25 per cent from the current levels.