Geojit Picks Finolex Cables, TD Power Among Three Technical Stock Ideas

Support Tests Shape Three Short-Term Trade Setups

Geojit’s technical calls hinge on whether key support zones hold as selling pressure begins to ease.

The three recommendations share a common premise: each stock has corrected towards a chart support area, while technical indicators or candle patterns suggest selling pressure may be losing force. That makes the analyst’s view conditional, not a confirmation that a sustained recovery has begun. For investors and traders, the key distinction is whether prices hold the stated support and stop-loss levels—not simply whether a stock appears oversold.

TD Power’s recovery case rests on the rising channel

James recommends buying TD Power Systems at a cited price of ₹688, with a target of ₹750 and a stop loss at ₹660. The stock has been moving within a rising channel since March, according to the analysis. Its recent correction brought it towards support near ₹600, followed by a sharp recovery. A Morning Star pattern near that support is presented as a possible near-term reversal signal.

The broader support zone identified on the point-and-figure chart is ₹600–640. The analyst says holding this area would leave the larger bullish structure intact. RSI recovery from near-oversold levels and shorter-term signs of selling exhaustion in the MACD histogram add to the case, though they do not guarantee follow-through. The analysis also describes recovery potential towards ₹750–770 over the next few weeks; the stated trade target remains ₹750.

Finolex Cables needs a confirmed turn from support

For Finolex Cables, the recommendation is a buy at ₹1,144, with a target of ₹1,310 and a stop loss of ₹1,090. Heavy October selling had taken the stock into a broad ₹1,000–1,200 support zone. The chart is now attempting a pullback, while a bullish Harami formation is cited as evidence that lower levels may be facing rejection.

The RSI and MACD are described as deeply stretched, and the MACD histogram’s shorter negative bars suggest easing selling momentum. The point-and-figure chart shows the decline testing rising support near ₹1,100. James sees the risk-reward as favourable if the stock stabilises, but notes that confirmation would require a fresh X-column recovery. The ₹1,090 stop-loss is therefore an important boundary for the proposed trade.

Cholamandalam’s channel support is the key test

Cholamandalam Investment is recommended at ₹1,447, with a target range of ₹1,520–1,560 and a stop loss at ₹1,389. The analysis says its longer-term uptrend remains intact, with the stock trading in a broad rising channel since 2025. The recent decline has brought it towards the channel’s lower end, around ₹1,400, where buying interest is said to be emerging.

A Doji candle near support signals indecision after the decline, rather than a confirmed reversal. The weekly RSI is approaching 30, which the analyst interprets as the stock nearing oversold territory. The point-and-figure chart places support near ₹1,450, while the analysis identifies ₹1,389–1,360, around the 200-week moving average, as a level range that should hold for the rebound case to remain viable.

Key Highlights

• TD Power Systems: cited price ₹688; target ₹750; stop loss ₹660.
• Finolex Cables: cited price ₹1,144; target ₹1,310; stop loss ₹1,090.
• Cholamandalam Investment: cited price ₹1,447; target ₹1,520–1,560; stop loss ₹1,389.
• All three calls depend on support holding and are framed as near-term recovery trades.
• The cited chart signals indicate potential setups, not certainty that prices will reach their targets.

Investor Note: These are technical views attributed to Geojit’s Anand James, not assured outcomes or a substitute for individual research. Traders should assess whether the proposed entry, target and stop-loss levels suit their risk tolerance; a break below support could weaken the recovery case.