Technical analyst Kunal Kamble of Bonanza has identified potential momentum in Mphasis, Rico Auto, and Tenneco Clean Air India. While technical indicators suggest strength, investors should consider broader IT sector volatility, raw material cost risks in the auto component space, and upcoming company earnings.
Indian equity markets have faced recent volatility, with indices showing signs of selling pressure. Amidst this climate, technical research analysts are scanning for stocks that show signs of independent strength. Kunal Kamble, a senior analyst at Bonanza, recently shared technical observations on Mphasis, Rico Auto Industries, and Tenneco Clean Air India, noting that these stocks exhibit patterns such as price breakouts and favorable moving averages that may interest short-term traders.
Mphasis is currently trading near ₹2,460. The technical outlook suggests that the stock has moved past previous resistance levels. However, for investors, the IT sector remains a space to watch carefully, as it has been subject to recent market-wide selling pressure. The stock's future performance will likely depend on whether the broader technology sector can sustain demand and manage margins in a changing economic environment.
Rico Auto Industries, trading around ₹156, is another stock in focus. The company recently reported record revenue of ₹2,477 crore for FY26, indicating strong operational scale. While the technical momentum points to a positive trend, the auto component sector faces inherent risks related to the cost of raw materials. Investors often monitor how effectively companies like Rico Auto can pass on these costs to customers or manage their margins when commodity prices are unpredictable.
Tenneco Clean Air India is trading near ₹580. The company is set to release its Q1 FY26-27 results on August 6, 2026, which makes the timing of this analyst observation significant. Financially, the company has maintained a near-debt-free status with healthy return ratios, which can be an attractive feature for investors. Despite these strong financial indicators, the stock is not immune to global industry segment pressures or indirect costs that can sometimes impact earnings performance.
For investors, the immediate next steps involve monitoring the actual quarterly results for Tenneco Clean Air, which will provide clarity on current profitability. For Rico Auto, the management’s commentary on how they are navigating raw material price volatility will be a key monitorable. Meanwhile, Mphasis will continue to be influenced by the sentiment surrounding the IT industry. As with all technical recommendations, these setups are based on short-term price patterns and should be weighed against individual company fundamentals and broader market risk.