Thermax Ltd.- Stock Investment Idea Weekly Pick
| Update: Book Full Profit. We recommended THERMAX on 16th Mar 2026. The stock has delivered 30% returns in just 22 trading sessions. |
Thermax has formed a strong technical base with a double bottom pattern and higher bottom structure on weekly charts. Price sustaining above key averages and anchored VWAP indicates accumulation. Momentum indicators remain supportive, suggesting continued upside bias with potential targets in the ₹3800–₹4200 range over the medium term.
Expert recommendation by Mr. Ketan Kaushik - Derivative Analyst (NISM - 202200162803)
- Current Price: 3221
- Buying Price: 3150 -3250
- Target Price: 3800 - 4200
- Stop loss: 2750
- Upside: 30%
- Time Frame: 12-14 Weeks
Stock Technical Analysis
- The stock witnessed a sharp upward move from the 2500 level and made an all-time high of 5840 in Jul24; after making the high, it corrected till 2800-3000 zone.
- Stock has made double bottom formation near 2750 level and it has been making higher bottom formation on the weekly chart.
- Stock has closed above 21 WMA and anchored VWAP, indicating buying interest with volumes support
- Stock has closed at the highest point with bullish candlestick formation on weekly chart
- The momentum indicator RSI has closed above 50 level on both daily as well as weekly time-frames, indicating that upside momentum is likely to continue in the coming days.
Traders can look to accumulate THERMAX in the 3150 - 3250 zone and expect upside targets of 3800 - 4200 over the next 12-15 weeks, with a stop loss below 2750 on a closing basis.
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Know more about Thermax Ltd.
Website: https://www.thermaxglobal.com/
Thermax Ltd. is a leading Indian engineering company providing energy and environment solutions, including boilers, heating systems, cooling solutions, water treatment and pollution control equipment. The company serves industries such as power, chemicals, infrastructure and manufacturing, with a strong presence in both domestic and global markets.
Thermax Ltd. Swing Trading – Key Investor FAQs
Overview: Thermax has shown a strong technical recovery after a prolonged correction, supported by a double bottom formation and improving momentum indicators. The stock is witnessing accumulation with potential upside over the medium term.
1. What is the key technical pattern in Thermax stock?
The stock has formed a double bottom near ₹2,750, indicating a strong support zone and potential trend reversal.
2. What confirms the bullish trend in Thermax?
Price trading above the 21-week moving average and anchored VWAP, along with strong volume participation, confirms buying interest.
3. What do momentum indicators suggest?
RSI sustaining above 50 on both daily and weekly charts indicates strengthening momentum and supports the continuation of the uptrend.
4. What is the expected price outlook?
The stock has potential to move towards ₹3,800–₹4,200 over the next 12–15 weeks, subject to market conditions.
5. What risks should be monitored?
Key risks include a breakdown below ₹2,750 and broader market weakness that may impact momentum.
Before You Trade, Strengthen Your Foundations with These Guides
- For a stronger understanding of indicators such as RSI, VWAP, and trendlines, check our 👉 Technical Analysis Fundamentals section.
- Want to refine your risk-reward planning? Explore our insights on 👉 Position Sizing & Risk Management Strategies.
Disclaimer: - Investments in securities market are subject to market risk, read all the related document carefully before investing. https://www.mnclgroup.com/research-disclaimer
