Leading brokerage firm Axis Direct has issued 'buy' recommendations for shares of Tata Technologies Ltd, Granules India Ltd, and Triveni Turbine Ltd, citing strong technical indicators and potential for upward movement. The analysis, released on May 20, 2026, details specific target prices and stop-loss levels for traders.
Triveni Turbine: Bullish Flag Breakout
Triveni Turbine Ltd confirmed a bullish flag continuation pattern breakout at the Rs 615 level on daily charts, supported by substantial trading volumes. The stock is positioned strongly above its key Simple Moving Averages (SMAs) for 20, 50, 100, and 200 days. The upward trajectory of these averages, in conjunction with price increases, reinforces a robust bullish trend. Furthermore, a daily 'Bollinger Band' buy signal indicates increasing momentum, while favorable Relative Strength Index (RSI) readings across daily, weekly, and monthly charts suggest rising strength over various time horizons.
- Recommendation: Buy
- Target Price: Rs 700-740 (with an expected upside of Rs 700-760)
- Stop Loss: Rs 635 (with downside support between Rs 615-585)
Tata Technologies: Inverse Head & Shoulders Signal
Tata Technologies experienced a trend reversal, confirming an 'inverse head and shoulders' pattern on both daily and weekly charts, which typically signals a shift in market direction. Similar to Triveni Turbine, Tata Tech is well-placed above its 20, 50, 100, and 200-day SMAs, whose upward movement alongside the stock price reconfirms a bullish outlook. Increased momentum is also suggested by a daily 'Bollinger Band' buy signal, and positive RSI readings across all timeframes indicate sustained strength.
- Recommendation: Buy
- Target Price: Rs 700-740
- Stop Loss: Rs 635 (with downside support between Rs 645-628)
Granules India: Strong Uptrend & Rounding Bottom
Granules India is currently in a strong uptrend across all timeframes, indicating consistent upward momentum. The stock also confirmed a breakout from a 'rounding bottom' formation at the Rs 725 level, accompanied by rising trading volumes. It maintains a strong position above its 20, 50, 100, and 200-day SMAs, with these averages moving higher in line with the price, reinforcing the bullish trend. Favorable RSI readings across daily, weekly, and monthly charts further underscore its increasing strength.
- Recommendation: Buy
- Target Price: Rs 805-855
- Stop Loss: Rs 730 (with downside support between Rs 735-725)
Disclaimer: This article provides stock market news for informational purposes only and should not be considered investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.