MUMBAI — As the Indian markets enter the new financial year with renewed vigor, technical scanners have identified a select group of stocks flashing strong bullish signals. Leading the charge are IT major Tech Mahindra and fintech disruptor Billionbrains Garage Ventures (Groww), both of which have cleared significant resistance levels according to the latest Relative Strength Index (RSI) and White Marubozu candlestick scans.
The “White Marubozu” Breakout
On April 2, 2026, the Nifty 200 index saw six prominent stocks appear on the “White Marubozu” scanner. In technical analysis, this pattern occurs when a stock opens at its daily low and closes at its daily high, signaling overwhelming buying pressure and a potential trend reversal or continuation.
1. Bosch Ltd.
Bosch emerged as the top performer in this group, surging 4.9% to close at Rs 32,135. The stock has shown a sharp RSI upswing, crossing the critical 50-mark, which suggests the “bulls” are firmly in control.
2. Persistent Systems
The IT services firm gained 3.54%, closing at Rs 5,227.70. Persistent continues to demonstrate resilience, maintaining a steady uptrend supported by institutional inflows in the mid-cap segment.
3. HCL Technologies
HCL Tech mirrored broader sector strength with a 3.53% rise, ending the session at Rs 1,402.20. Analysts point to its recent RSI crossover as a sign of strengthening price momentum.
4. KPIT Technologies
Focused on the automotive software niche, KPIT gained 3.34% to reach Rs 696.80. The stock’s technical health remains robust, clearing short-term moving average hurdles with ease.
Tech Mahindra: IT Sentiment Rebounds
Tech Mahindra has been a focal point for momentum traders after rallying 2.63% to reach Rs 1,441.50.
- Key Signal: The stock’s RSI recently surged to 56.9, climbing from a neutral base.
- Moving Averages: It is currently trading above its 5-day EMA and 10-day SMA, indicating a short-term bullish bias.
- Financial Health: With a Return on Equity (ROE) of 16.3% and a low debt-to-equity ratio of 0.07, the stock offers a compelling mix of technical momentum and fundamental stability.
Billionbrains Garage (Groww): The Fintech Favorite
Operating under the ticker GROWW, Billionbrains Garage Ventures saw a steady climb of 2.02%, closing at Rs 164.82.
- Technical Setup: The stock is currently trading above all major Simple Moving Averages (SMAs), a rare technical alignment that often precedes a multi-week rally.
- Valuation: Currently trading at a P/E of 60.59, the market appears willing to pay a premium for its high-growth trajectory in the financial services sector.
Investor Outlook
The broader market rally is being driven by easing geopolitical tensions and aggressive buying by Foreign Institutional Investors (FIIs). While technical indicators like the RSI upswing and White Marubozu patterns offer attractive entry points for traders, experts suggest monitoring the upcoming Q4 earnings reports to confirm if this momentum is sustainable throughout the quarter.
Technical Insight: An RSI value crossing above 50 is generally interpreted as a shift from a bearish/neutral phase to a bullish one, often serving as a precursor to a test of higher resistance zones.