Jyoti CNC Automation, RK Forge, and ACI are displaying constructive chart patterns, with each stock at various stages of recovery, signalling potential gains amid improving technical indicators, says analyst Anand James.
Jyoti CNC Automation, RK Forge and ACI are among three stocks that Geojit analyst Anand James says are showing constructive chart patterns, with each name at a different stage of recovery or continuation. In a note carried by Business Standard, James argued that Jyoti CNC has begun to turn higher after breaking a falling trendline and moving back above its weekly Supertrend level, a signal he read as an early trend reversal.
For Jyoti CNC, James said momentum has improved on both weekly and daily time frames, with the weekly relative strength index near 60 and the daily reading moving above its moving average. He also pointed to a MACD crossover that is close at hand, alongside a pattern of higher lows that suggests buyers have been stepping in on dips. Business Standard reported that he sees the stock advancing towards ₹885, with ₹830 set as the stop-loss. Market data from Investing.com and Moneycontrol shows mixed but improving technical signals, with RSI readings above 60 on one set of indicators and MACD pointing to strength, although some shorter-term measures remain less decisive.
RK Forge, James said, has resumed its climb after finding support on a rising trendline and breaking out of a consolidation band. He added that a bullish monthly MACD crossover and an upward RSI profile support the case for further gains, provided the stock stays above ₹732. External technical data from MarketNeuron points to a more cautious picture on some measures, noting that the share is still below key moving averages and that momentum is not uniformly strong, even as it highlights improving quarterly earnings and higher institutional holdings.
ACI, meanwhile, is being treated as a short-term recovery play rather than a fully fledged trend leader. James said the stock has started to stabilise after a two-week pullback, with buyers emerging around a weekly support area and daily momentum indicators beginning to firm. He said the setup could carry the stock towards ₹554 if the rebound holds, with ₹494 as protection. That view is broadly consistent with the technical data cited by ETMoney, which shows the stock trading near key moving averages but with RSI and money-flow readings that point to improving strength.
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