Tech Query: Sundram Fasteners, HDB Financial Services, Sterlite Technologies, Techno Electric & Engineering Company – What is the outlook? Where are these stocks headed?

I bought Sundram Fasteners shares at ₹1,012. What is the outlook?

Mandeep Singh, Jaipur

Sundram Fasteners (₹1,036): The long-term picture looks good for this stock. The strong bounce from the low of ₹730 has happened from the 61.8 per cent Fibonacci retracement support. That marks the end of the downtrend that was in place since September 2024.

Immediate support is at ₹965. Below that, ₹840 and ₹790 are the next important supports. From a long-term perspective, there is potential for Sundram Fasteners’ share price to go up to ₹1,900-₹2,000.

You can accumulate at ₹1,020. Keep a stop-loss at ₹710. Trail the stop-loss up to ₹1,210 as soon as the price goes up to ₹1,420.

Move the stop-loss further up to ₹1,520 and ₹1,730 when the price touches ₹1,640 and ₹1,810, respectively. Exit the stock at ₹1,880.

What is the outlook for HDB Financial Services? Can I buy this stock now?

Rhiya, New Delhi

HDB Financial Services (₹499): The overall trend is down and very strong. There is no sign of a reversal. Resistance at ₹560 and ₹610 can cap the upside.

The stock can fall to ₹380-₹370. So, for now, stay out of this stock. However, the ₹380-₹370 is a very good support which can halt the fall.

A bounce from this support zone may have the potential to take the share price higher towards ₹500. However, the broader trend will still remain down. If you have a high-risk appetite, then you can buy the stock at ₹380.

Keep a stop-loss at ₹345. Trail the stop-loss up to ₹395 as soon as the stock goes up to ₹415. Revise the stop-loss higher to ₹420 and ₹445 when the share price touches ₹440 and ₹460, respectively.

Exit the stock at ₹480.

I would like to buy Sterlite Technologies shares. Please suggest a good entry level.

Pradeep, Kolkata

Sterlite Technologies (₹828): The stock price skyrocketed to a high of ₹1,054 and has come down from there. But this just looks like a corrective fall. The important support at ₹715 can be tested in the coming weeks.

A strong rise from around ₹715 can take the stock up to ₹1,250. But a break below ₹715 will indicate a bearish trend reversal and drag the price down to ₹600 or even lower. If you have a high-risk appetite, buy on dips at ₹760 and ₹740.

Keep the stop-loss at ₹680. Trail the stop-loss higher to ₹810 as soon as the stock goes up to ₹930. Revise the stop-loss higher to ₹940 and ₹1,090 when the price touches ₹1060 and ₹1,140, respectively.

Exit the stock at ₹1,230.

I have the Techno Electric & Engineering Company shares. My average price is ₹1,150. What’s the outlook?

Elanchezhian, Mumbai

Techno Electric & Engineering Company (₹830): The outlook is bearish for this stock. The recent fall below ₹940 indicates a bearish breakout of a huge multi-year triangle pattern. That has opened the doors on the downside for more fall.

There is a danger of the price tumbling toward ₹450 in a year or so. Any intermediate rise will now face resistance around ₹1,000. Strong resistance is in the ₹1,250-₹1,300 region.

Ideally, the stock has to rise past ₹1,300 in order to become convincingly bullish. But that looks unlikely. Exit the stock and accept loss.

Do not wait and hope for a bounce to come out at higher levels. It may not happen and there is a danger of getting stuck with more loss.

Please send your questions to techtrail@thehindu.co.in