Ganesh Chaturthi picks: Eternal, Dmart and Eicher Motors are stocks to buy with potential upside of 16%

As India celebrates the auspicious Ganesha Chaturthi festival, market expert Pravesh Gour, Senior Technical Analyst at Swastika Investmart, has suggested three stocks to buy for long-term gains this time around. The stocks recommended by him include Eicher Motors, Avenue Supermarts, and Eternal. Here’s why

Buy Eicher Motors | Target: Rs 6,800 | Upside: 11%

Eicher Motors shares have broken out of a Symmetrical Triangle formation on the longer timeframe with strong volumes above Rs 5,700. After retesting the breakout zone of Rs 5,800 – Rs 5,900, it initiated a fresh rally towards Rs 6,800. The overall structure appears promising for long-term investors, as the stock continues to trade above all major moving averages. A breakout above Rs 6,000 could pave the way for a move towards Rs 6,800 in the short term, while Rs 5,900 remains a crucial support level on the downside.

Buy Avenue Supermarts | Target: Rs 5,300/5,500 | Upside: 16%

DMart shares have given a strong breakout from a long-term symmetrical triangle formation, supported by healthy volumes, which confirms genuine buying interest. After consolidating between Rs 3,900 and Rs 4,400, the price moved decisively above the upper trend-line and has since sustained well above the breakout zone, indicating strength in the ongoing uptrend. The stock is trading above all key moving averages, thereby reinforcing the bullish structure. On the upside, resistance is placed at Rs 5,000, and a sustained move above this zone could pave the way towards Rs 5,300 – Rs 5,500 in the medium term. On the downside, Rs 4,500 acts as immediate support, with a stronger cushion around Rs 4,350 – Rs 4,300 near the moving average cluster.

Buy Eternal | Target: Rs 6,800 | Upside: 11%

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The stock has given a flag pattern breakout on the weekly chart and delivered a decisive move above the key resistance zone of Rs 305, supported by rising volumes, which signals strong accumulation at lower levels. Post breakout, it has successfully sustained above this level, turning the resistance into an important support zone. The stock is trading comfortably above all major moving averages, reflecting a well-established uptrend with a positive price structure. The stock could extend its rally towards Rs 360 – Rs 380 levels if it continues to hold above Rs 305. On the downside, Rs 305 – Rs 300 will act as an immediate support zone, while stronger support lies near Rs 280.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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