CG Power and Industrial Solutions (₹688.45)
Eyeing a breakout
The stock of CG Power and Industrial Solutions, currently trading at ₹688, faces a resistance at ₹705. While the scrip has been struggling to break out of this hurdle over the last month, we expect it to surpass this level soon. Supporting this, the price action shows good buying interest in the last few sessions and the stock remains above the key support of ₹660 even though there was some moderation.
Once the breakout of ₹705 occurs, it can rally to ₹850 soon. So, buy at ₹688 and accumulate if the price dips to ₹660. Stop-loss can be ₹630. When the price rises to ₹780, trail the stop-loss to ₹720. On a rally to ₹820, tighten the stop-loss to ₹790. Book profits at ₹850.
Mankind Pharma (₹2,289.05)
Hands out to the bears
By shedding 3.9 per cent last week, the stock of Mankind Pharma slipped below a notable support at ₹2,330. Thus, it has now formed a lower low. Adding to the weakness, the chart shows that the trend has been bearish since early 2025. So, the probability of further depreciation is high. The nearest notable support is the price band of ₹2,120-2,150.
The stock might drop to these levels in one swing. Or after an initial decline to ₹2,200, there might be a temporary sideways movement before an eventual fall to ₹2,120-2,150. Go short now at ₹2,289 with stop-loss at ₹2,350. Alter the stop-loss to ₹2,280 when the price dips to ₹2,200. Exit at ₹2,150.
SBI Cards and Payment Services (₹946.30)
Trend revival on the cards
The bulls pushed the stock of SBI Cards and Payment Services through the resistances at ₹930 and ₹970 in the first half of June. It hit a fresh 52-week high of ₹1,023.05 on June 10. Even though the price declined last week, the broader bull trend is intact. We expect the scrip to resume the uptrend from the current level of ₹946 or after extending the decline to ₹915.
Once it gets back to the upward trajectory it can hit ₹1,100 once before the end of 2025. Buy at ₹946 and ₹915. Place stop-loss at ₹860. When the stock jumps to ₹1,040, tighten the stop-loss to ₹980. Revise the stop-loss higher to ₹1,030 when the price rises to ₹1,075. Liquidate the longs at ₹1,100.
Published on June 21, 2025