Choice Equity Broking has released research reports identifying positive technical setups for HEG, Supreme Industries, and Astra Microwave Products. While the brokerage suggests potential upside based on price momentum, investors should note that these technical calls do not account for fundamental risks or current market volatility, which has seen the Nifty trade with a sideways bias.
Choice Equity Broking has released a series of research notes highlighting technical setups for HEG, Supreme Industries, and Astra Microwave Products. The brokerage's analysis focuses on short-term price momentum and chart patterns, suggesting these stocks may see further movement based on recent trading activity. It is important for investors to note that these recommendations are based on technical indicators such as moving averages, RSI, and Bollinger Bands, rather than long-term fundamental valuation.
Regarding HEG, the report highlights the stock's positioning above its 50-day and 200-day exponential moving averages. The brokerage suggests a technical entry point around ₹700, with a risk level set at ₹670 and a target of ₹750, citing a breakout from a previous consolidation phase. Similarly, for Supreme Industries, the technical analysis points to a shift in price structure, with the stock reclaiming key moving averages. The suggested buy level is around ₹3,560, with a stop-loss at ₹3,460 and an upside target of ₹3,850.
For Astra Microwave Products, the brokerage identifies a constructive chart setup with support noted near the ₹1,660 level. The suggested buy entry is around ₹1,740, with a target of ₹1,830 and a risk level at ₹1,680. Investors looking at Astra Microwave should balance this technical view against the company’s recent financial performance. In its Q1 FY27 results, the company reported a consolidated net profit of ₹12.35 crore, which is a decline from the ₹16.27 crore reported in the same period last year. The company has also indicated a dividend of ₹2.40 per share, with payment context expected around September 2026.
Broader market conditions may also influence these stocks. The Indian market is currently showing a sideways trend, with the Nifty index facing resistance in the 24,500 to 24,550 range and support near 24,200 to 24,250. When a market index is moving sideways, technical breakouts can sometimes be less reliable. Investors may track whether these individual stocks can sustain their momentum despite the wider market hesitation. The final outcome for any short-term trade will depend on whether the stocks can hold these support levels and if the underlying business performance can justify price stability in the coming quarters.