The Nifty IT index has risen nearly 5% in the last five trading sessions, with all index constituents gaining between 5% to 10%.
The Nifty Metal index has also risen 9% in the last five trading sessions, with all index constituents gaining up to 12%.
Amidst this outperformance, are there still stocks that command value or potential upside on the charts?
SAIL
Jigar Patel of Anand Rathi believes that SAIL is currently poised for upside towards ₹126 – ₹128 levels, which implies another 5% upside potential from current levels.
“The successful retest of a long-term falling trendline, indicates a shift in sentiment, indicating bullish momentum,” he added. Patel sees support for SAIL around levels of ₹112, which will now act as a base and resistance at ₹128 levels.
Birlasoft
Anand Rathi’s Patel is of the view that the ₹330 level could potentially mark a significant bottom for Birlasoft and this will be a critical level to monitor for a possible trend reversal.
There is also a inverse head and shoulder pattern formed on the daily chart and a neckline breakout is seen with strong volumes. He recommends buying the stock between the ₹425 – ₹415 range, with a price target of ₹510. Stop loss should be placed at ₹375.
The price target implies a potential upside of 20% from current levels.
Cyient
The other IT recommendation from Patel is Cyient, which is approaching a key technical inflection point, where multiple indicators are suggesting a potential trend reversal.
“This setup is supported by a powerful confluence of time cycles, Fibonacci ratios, and chart structure—signaling a high-probability turning zone,” he said.
On the daily chart, Cyient has given breakout from Inverse Head & Shoulders pattern, which is a classic bullish reversal formation.
He recommends buying Cyient for a price target of ₹1,800, a stop loss of ₹1,080 and a buying zone to be between ₹1,240 – ₹1,280.
Cyient’s price target implies a potential upside of 39% for the stock.
