Leading Indian equity analysts from Mirae Asset Sharekhan have highlighted three stocks—Welspun Corp, Netweb Technologies India Ltd, and CarTrade Tech Ltd—as potential 'multibagger' opportunities for traders. The firm has issued 'Buy' recommendations for all three, outlining specific target prices and crucial stop-loss levels for short to medium-term trading strategies.
Netweb Technologies India Ltd: Bullish Outlook
Netweb Technologies India Ltd has demonstrated a consistent pattern of forming higher tops and higher bottoms, recently reaching a new 52-week high. This strong technical performance suggests a potential upward trajectory, with analysts setting a target price range of Rs 6,085 to Rs 6,500. The weekly chart further supports this bullish view, showing a breakout above its previous swing high, indicating robust momentum. The Relative Strength Index (RSI) consistently above 60 across multiple time frames reinforces the positive outlook. However, investors should closely monitor the key support zone between Rs 5,200 and Rs 5,025; a breach below this level could trigger profit-taking. Mirae Asset Sharekhan maintains a positive stance unless a clear trend reversal is observed.
CarTrade Tech Ltd: Positive Momentum Confirmed
CarTrade Tech Ltd has shown significant positive momentum after finding solid support at its swing low of Rs 2,650 on the daily chart. This rebound suggests that the rally is likely to continue, with analysts projecting a target price range of Rs 3,180 to Rs 3,300 in the short to medium term. Conversely, a break below the Rs 2,800 support level could lead to a decline towards Rs 2,648. Momentum indicators, including readings above 65 and positive crossovers across various time frames, signal sustained buying interest in the stock. Overall, CarTrade Tech maintains a strong positive bias for the immediate future.
Welspun Corp Ltd: New Highs Amid Overbought Signals
Welspun Corp Ltd has sustained an impressive positive trend, characterized by higher tops and higher bottoms, since March 2026, recently achieving a new 52-week high. Analysts anticipate a further move towards the Rs 2,640 to Rs 2,900 range in the short to medium term. Despite this strong performance, the Relative Strength Index (RSI) currently stands at 90 on both daily and weekly time frames, indicating that the stock is in an overbought zone. Traders are advised to monitor the critical support zone of Rs 2,100 to Rs 1,990, as a breakdown below this level could initiate profit-taking. The bullish outlook remains contingent on the absence of a clear trend reversal.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.