InCred Equities Unveils Diwali Picks 2025: Promising Stocks for Strong Returns

InCred Equities has introduced its Diwali Picks 2025, featuring a selection of stocks with strong fundamentals and promising technical setups. This festive season, the focus is on five stocks: Apollo Tyres, Canara Bank, NESCO, Sandur Manganese & Iron Ores, and Premier Explosives. These stocks are projected to offer returns ranging from 20% to 30% within a year.

Apollo Tyres is currently trading in the range of INR 460-500, with a target price of INR 580, indicating a potential upside of 20%. The stock's chart reveals a decade-long ascending channel where prices have consistently respected both resistance and support levels. Recently, it has been consolidating within a symmetrical triangle near the channel's upper boundary, suggesting a possible breakout.

The Williams Alligator indicator on monthly charts is signalling a buy, which could enhance momentum in the coming months. This indicator's alignment suggests that the stock may experience an upward movement if the breakout is confirmed.

Canara Bank's stock price has broken past a long-standing horizontal resistance zone around INR 110-115. This level had previously capped rallies since 2011. The breakout was followed by a retest of this former resistance as support, offering an ideal entry point for trend followers.

The MACD has shown a fresh bullish crossover, with the histogram turning positive. This indicates renewed upward momentum and trend acceleration. Additionally, all three Alligator lines are open and fanned upwards, signalling an established strong trend.

NESCO: Ascending Wedge and Volume Insights

NESCO's stock price is currently in the range of INR 1320-1360, targeting INR 1655, reflecting a potential upside of 23%. The price action shows a multi-year ascending wedge with successful tests of resistance and support levels. The most recent retest occurred at INR 1250.

Volume remains steady throughout the rally, indicating positive participation. The absence of distribution on volume drops suggests demand retention at higher levels and minimal selling pressure. The RSI remains above bullish support zones with an upward slope, strengthening bullish momentum.

Sandur Manganese & Iron Ores: Breakout and Volume Expansion

Sandur Manganese & Iron Ores has broken above multi-year wedge resistance, marking a major bullish breakout after prolonged consolidation. The stock is trading between INR 205-225 with a target of INR 280, offering a potential upside of 30%.

The Donchian Channel is expanding upward, confirming that volatility favours bulls and supports sustained trend development. Volume expansion during the breakout signals robust market participation and institutional conviction behind the rally.

Premier Explosives: Uptrend and Institutional Interest

Premier Explosives has maintained a strong uptrend within a rising channel since its recovery in 2020. It is trading between INR 630-650 with a target price of INR 780, indicating an upside of 22%. Recent candles show consolidation followed by a breakout retest at the lower channel line.

Volume has expanded significantly during breakout attempts and key uptrend candles. Recent bars show sustained participation, confirming institutional interest and robustness of the upward move. The RSI has witnessed hidden bullish divergence alongside a bullish MACD crossover.

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