The stock market is a cycle that oscillates between bullish surges and bearish retreats and never moves in a straight line. Indian equities, after a stellar rally from the pandemic lows of 2020 to the euphoric peaks of September 2024, finally faced the heat of profit-booking in Q4-2024. This corrective phase extended into Q1-2025, making March and April particularly volatile months.

During this churn, many stocks cracked to their 52-week lows. Yet, amidst the storm, some quietly began attracting smart money. Investors looking beyond the noise noticed something interesting: rising prices accompanied by rising volumes—a classic confirmation of accumulation.

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We screened stocks that not only rebounded from their 52-week lows but also registered at least 100% higher trading volumes compared to their 10-month averages. This rare alignment could indicate that the bear phase flushed out the weak hands, setting the stage for potential long-term winners.

Here are three stocks to keep a close eye on:

1. Tata Elxsi

Tata Elxsi is one of the world’s leading design and technology services providers in automotive, media, communications, and healthcare industries. Its solutions fuel some of the most cutting-edge innovations globally, from self-driving cars to OTT platforms.

Source: TradePoint, Definedge Securities

After breaking down below a crucial swing low, Tata Elxsi’s stock experienced a sharp bullish reversal from its 52-week lows. This shakeout move — commonly seen before a major rally — hints at a classic bear trap where weak hands exit and smart investors step in.

Rising volumes—doubling the previous 10-month average—confirmed the surge, a clear sign of smart money accumulation. The stock’s behaviour suggests that the worst may be over, and a potential fresh uptrend could be underway.

2. Delhivery

Delhivery is India’s largest fully integrated logistics provider, powering supply chains for businesses across the country. Delhivery is the backbone of India’s booming e-commerce and industrial distribution sectors, from express parcel transportation to warehousing and cross-border logistics.

Source: TradePoint, Definedge Securities

Delhivery’s stock touched an all-time low of ₹236 in March 2025, forming a narrow range candle — a technical hint that selling pressure might be exhausting. When the market rebounded in April, Delhivery rode the wave with strength.

The stock has since climbed above ₹300, backed by the highest monthly trading volumes seen in years. This rising price with rising volume scenario often marks the early stages of a new bullish trend. It seems the delivery of returns for long-term believers might just be starting.

3. Vardhman Textiles Ltd (VTL)

Vardhman Textiles is a leading textile conglomerate in India, with a strong presence in yarn, fabric, sewing threads, acrylic fiber, and garments. Known for quality and innovation, VTL has established a robust global footprint, catering to some of the biggest names in fashion and apparel.

A textbook example of Dow Theory in action, Vardhman Textiles has resumed its higher high–higher low structure on the monthly charts, indicating a strong primary bullish trend.

After a prolonged consolidation, the stock exploded upwards with three-year high volumes, a powerful validation of renewed bullish momentum. When volumes and price break out together after a long phase of dormancy, it usually signals a potential structural shift—one that patient investors can capitalize on.

Conclusion

Market volatility often provides the best opportunities, but only for those who can distinguish noise from signals. Tata Elxsi, Delhivery, and Vardhman Textiles have not just bounced back from 52-week lows; they are showing tangible signs of accumulation backed by strong volumes — an essential ingredient for a sustainable rally.

Watchlist them, track them — the next big move might already be brewing.

Disclaimer:

Note: We have relied on data from http://www.definedgesecurities.com throughout this article. Only in cases where the data was unavailable have we used an alternate but widely used and accepted source of information.

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. 

Brijesh Bhatia has over 18 years of experience in India’s financial markets as a trader and technical analyst. He has worked with UTI, Asit C Mehta, and Edelweiss Securities. Presently, he is an analyst at Definedge.

Disclosure: The writer and his dependents do not hold the Stocks discussed in this article. However, clients of Definedge may or may not own these securities.

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