Technical analysts weigh in on select Indian stocks, highlighting strength in commodities and auto components while advising caution on valuation-heavy names amid sector uncertainties.
Investor interest in a handful of widely traded Indian stocks was framed as a simple buy, hold or sell exercise on NDTV Profit’s Ask Profit show, where technical analyst Ruchit Jain of Motilal Financial Services and Lancelot D’Cunha of ValueX Wealth Connect weighed in on names spanning commodities, auto components, IT services, tobacco and power. Their remarks suggested a generally constructive view on companies showing price strength and earnings momentum, while they took a more cautious line on stocks where valuation or operating performance appeared stretched.
On Multi Commodity Exchange of India, Jain argued that the stock had not broken below its 200-day moving average, a closely watched trend indicator, and pointed to support near ₹2,500. His view was that investors could start building positions at current levels and add more if the price eases towards that band. Moneycontrol’s coverage of MCX’s latest financial picture also points to a business with a strong market position, ongoing growth and efforts to broaden products and improve technology, though regulatory shifts remain an important influence on sentiment.
D’Cunha was positive on Sona BLW Precision Forgings, saying the auto-components maker had delivered a solid quarter with volume growth and healthy margins. Moneycontrol’s analysis of the company likewise highlights revenue growth, profitability and operational efficiency, underscoring its role in the automotive supply chain and its push into new technologies and expansion. Taken together, the commentary supports a constructive view on the stock, particularly for investors looking for exposure to the auto parts segment.
Samvardhana Motherson International also drew a buy call from Jain, who said the chart showed a pattern of higher highs and higher lows, backed by strong volumes after the numbers. He described the stock as one where buying interest remained visible and suggested investors could go long while leaving room to average down if needed. Moneycontrol’s overview of the company similarly describes a business with broad automotive exposure, steady operational performance and a strategic push to strengthen its competitive position.
Coforge was another name D’Cunha preferred, saying the mid-tier IT services company looked better placed than larger peers to adapt as earnings growth in the sector takes time to recover. He argued that smaller firms may be turning their businesses around faster and said Coforge could offer stronger returns than Tata Consultancy Services. Moneycontrol’s profile of Coforge points to revenue growth, profitability and expansion plans that reinforce that relatively upbeat stance, even as the wider IT sector continues to face demand uncertainty.
By contrast, D’Cunha advised selling Godfrey Phillips India, citing a valuation of 26 times earnings, softer operating profit, weaker volumes and margin pressure from higher taxes. He said ITC might offer better diversification and suggested investors exit the stock and potentially the sector. Jain was similarly cautious on NHPC, recommending that investors book profits on rallies rather than hold through pullbacks. Moneycontrol’s notes on both companies show businesses with established sector positions, but the show’s message was clear: where earnings momentum weakens or valuation looks demanding, caution outweighs conviction.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
