As West Bengal assembly election results spurred market activity, technical research analyst Jatin Gedia of Teji Mandi highlighted several state-based stocks showing potential for continued momentum. Gedia suggested traders implement stop losses at the past three trading sessions' lows to manage risk.
Key Stock Recommendations
Gedia noted that many West Bengal-related stocks were already gaining traction even before the election outcome. Early trends, showing the BJP leading the 2026 assembly elections, further fueled this sentiment across various counters.
Emami: Bullish Flag Pattern
The Fast-Moving Consumer Goods (FMCG) sector is experiencing significant buying interest, with Gedia particularly favoring West Bengal-based Emami. He indicated that Emami has formed a Bullish Flag pattern on its technical chart. "Emami is one stock which we like from a short-term perspective. We see a scope of it moving upward till Rs 500-520. Emami is a buy," Gedia stated.
Bandhan Bank: Post-Results Breakout
Bandhan Bank has shown a clear breakout following its recent results announcement. Gedia observed a continuation of its uptrend, making it another stock to watch closely. On the day of the market rally, Bandhan Bank was quoting 3.45 percent higher at Rs 206.61.
CESC: Power Sector Momentum
CESC, a prominent player in the power distribution sector, has been rallying consistently for four to five weeks. Data indicated that CESC shares were up 26 percent in the month leading up to the election results. On Monday's trade, CESC shares added 6.20 percent, reaching Rs 199.15.
Titagarh Rail: Overbought Caution
While railway stocks saw some traction in April, Gedia believes Titagarh Rail is currently overbought. He anticipates a period of consolidation for the counter, potentially moving towards Rs 750-730. "We would wait for a trend reversal pattern and thereafter enter into that trade. As of now, one can avoid Titagarh Rail," Gedia advised.
Broader Market Reaction
Beyond these specific calls, several other West Bengal-headquartered stocks were in focus and experienced gains. RP Sanjiv Goenka Group (RPSG) stocks like RPSG Ventures Ltd and CESC, along with Senco Gold Ltd and Birla Corporation Ltd, all saw upward movement as vote counting progressed.
- Senco Gold Ltd soared 8.51 percent to Rs 339.75.
- Spencer's Retail Ltd advanced 6.88 percent to Rs 36.98.
- RPSG Ventures Ltd quoted 4.90 percent higher at Rs 888.95.
- PCBL Chemical Ltd was up 6.49 percent to Rs 309.45.
- Saregama India Ltd and Firstsource Solutions Ltd also gained over 1 percent.
In the textile sector, Lux Industries Ltd rose 3.42 percent to Rs 1,446, and Dollar Industries increased 3.62 percent to Rs 310.65. Vedant Fashions Ltd added 1.65 percent to Rs 434. Among other railway stocks, Texmaco Rail & Engineering Ltd was up 2.69 percent at Rs 108.31, while Titagarh Rail Systems Ltd advanced 1.15 percent to Rs 777.20, despite Gedia's cautionary outlook.