One month ago, the Nifty 50 index showed strength against the backdrop of rising geopolitical tensions.
On April 25, 2025 however the index fell sharply, down 207 points (0.86%) at 24,039, after a terrorist attack in Kashmir fuelled India-Pakistan tensions.
Since then both countries declared a ceasefire. Nifty50 and the border market started their upward journey.
However, what can be noticed is that there is mixed performance across sectors. In fact, what we see from derivative data suggests that stocks like Astral and PayTm could soon perform well.
Let’s take a deeper look.
Astral: Bullish Reversal After a 50% Fall
Astral has declined significantly by 50% from the highs it hit in July 2024. It has fallen from a level of ₹2,450 down to ₹1,234. Yet, the recent price movement indicates a possible turnabout because the share has rallied from these lower levels. This might indicate renewed interest from buyers and the beginning of a trend moving upward.
Key Signs Indicating Astral’s Potential Reversal
- Falling Channel Pattern on the Verge of a Breakout: The share is on the verge of a breakout from a “falling channel” chart pattern, which indicates that the price will begin moving upward.
- 100-Day Moving Average: Following August 2024, the share price is crossing over again its 100DAM, a signal for a probable trend change.
- Increased Volume: The number of shares changing hands has risen as the price rises and may indicate a trend shift.
- Increased RSI Momentum: The Relative Strength Index (RSI) has crossed over 60 and indicates strength and confirmation that the share might continue rising.
Outlook for Astral Ind
Astral Ind has been an underperformer and has given a -50% return between July 2024 and March 2025, and has dipped from ₹2,450 levels to ₹1,234 levels. It has now formed a bullish reversal pattern in lower timeframes, and is perhaps on the verge of a breakout from the falling channel. The stock has now crossed above the 100-day moving average. Moreover, 14-period RSI indicates strength and is in bullish zone, and thus indicates Astral may be about to move on the upside.
PayTm: Ready for a Potential Up move after Time and Price Correction
After creating a panic bottom, Paytm generated 230% between May 2024 and December 2024. However, the share has recently fallen back to the support level and is exhibiting a possible reversal. The bullish daily chart indicates that the upward trend may be seen re-emerging.
Key Technical Levels Favouring PayTm’s Reversal
- Rounding Bottom Pattern: The stock is forming the “Rounding Bottom” pattern, which indicates the possibility of a price rise.
- 100-Day Simple Moving Average: Following the temporary minor price correction, the share has now found support and prices are holding above its 100SMA, a traditional sign of positive sentiment and trend reversal.
- Volume Surge Confirming the Breakout: The concurrent increase in price and volume marks powerful participation and confirms the positive momentum.
Enhancing RSI Momentum: The 14-period RSI has crossed above 45, showing bullish divergence and supporting a continuing upside momentum.
Prospects of PayTM
PayTm got stuck in a range between February 2025 and April 2025. It broke out from it and returned 19% in April 2025. It did not hold there and came under pressure lately, coming down to the upper zone from ₹820 to ₹850. Although this decline did happen, technical levels indicate the early stages of a rebound. The breakout above a crucial bullish formation and increasing volumes, coupled with a rising RSI, indicate the likelihood of a pull-up in PayTm.
Final Take
Both PayTm and Astral also provide strong technical cues pointing towards a possible bullish trend in the realty sector. These stocks present bullish chart patterns, building strength in the RSI levels and demonstrating crucial breakouts. All these indicate building momentum and a positive trend. The sectoral and border market revival is strengthening sentiment and making the stocks even more desirable.
Disclaimer
Note: The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.
As per SEBI guidelines, the writer and his dependents may or may not hold the stocks/commodities/cryptos/any other assets discussed here. However, clients of Jainam Broking Limited may or may not own these securities.
Kiran Jani has over 15 years of experience as a trader and technical analyst in India’s financial markets. He is a well-known face on the business channels as Market Experts and has worked with Asit C Mehta, Kotak Commodities, and Axis Securities. Presently, he is Head of the Technical and Derivative Research Desk at Jainam Broking Limited.
Disclosure: The writer and his dependents do not hold the stocks discussed here. However, clients of Jainam Broking Limited may or may not own these securities.
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