Top 3 stocks for today, recommended by Ankush Bajaj
Buy: Indus Towers Ltd. (INDUSTOWER) — Current Price: ₹404.30
Why it’s recommended:Indus Towers has broken out of a falling wedge pattern on the daily chart — a bullish reversal structure that indicates potential for trend reversal. Additionally, on the 45-minute chart, the stock has confirmed a triangle breakout, adding to the bullish conviction. The Relative Strength Index (RSI) on the daily chart is at 62.90, suggesting strengthening momentum.
Key metrics:
Resistance level: ₹419 (short-term target)
Support level: ₹397 (pattern invalidation level)
Pattern: Falling wedge breakout on the daily chart; triangle breakout on the 45-min chart.
RSI: 62.90 on daily chart, indicating bullish strength
Technical analysis:The confluence of breakouts on both daily and intraday timeframes strengthens the bullish view. The RSI in the 60+ zone reflects solid momentum, and the breakout structure is clean. A move above ₹419 could open up further upside in the short term, provided the breakout sustains with volume confirmation.
Risk factors:Failure to hold above ₹397 would invalidate the bullish pattern and may lead to selling pressure. A lack of volume follow-through may weaken the breakout signal.
Buy at: ₹404.30
Target price: ₹419
Stop loss: ₹397
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Buy: Bharat Electronics Ltd. (BEL) — Current Price: ₹408.25
Why it’s recommended:BEL has closed at a new all-time high, indicating strong bullish sentiment. The RSI is above 72 on the daily chart, showing strong momentum and suggesting the trend may continue. On the 15-minute chart, a rectangle breakout has been confirmed, supporting a continuation of the uptrend in the near term.
Key metrics:
Resistance level: ₹426– ₹430 (short-term target range)
Support level: ₹396 (pattern invalidation level)
Pattern: Rectangle breakout on the 15-min chart; breakout to new life-time high on daily chart
RSI: Above 72 on daily chart, suggesting overbought strength and trend continuation
Technical analysis: BEL is showing strong price action with volume support at higher levels. The breakout above its previous high, combined with short-term consolidation breakout, makes it a high-conviction trade. While the RSI is in the overbought zone, this can persist during strong trends.
Risk factors: High RSI may lead to brief consolidations or minor pullbacks. A drop below ₹396 would negate the current bullish structure.
Buy at: ₹408.25
Target price: ₹426– ₹430
Stop loss: ₹396
Buy: Aeroflex Industries Ltd. (AEROFLEX) — Current Price: ₹204.45
Why it’s recommended: Aeroflex has delivered two consecutive strong green sessions accompanied by high volume, indicating strong buying interest. The stock is showing positive relative strength and is currently in a healthy pullback mode, which offers a good entry point in the broader uptrend.
Key metrics:
Resistance level: ₹235– ₹240 (short-term target range)
Support level: ₹189 (pattern invalidation level)
Pattern: High-volume continuation with positive relative strength and pullback support
RSI: Not overbought; momentum building with volume support
Technical analysis:The stock is showing signs of sustained strength after a recent correction, with increasing volume lending credibility to the bounce. Positive relative strength suggests it is outperforming its peers, and the setup indicates potential for continued upside toward ₹235– ₹240.
Risk factors:Any dip below ₹189 could suggest a failed pullback and may invite selling. Volume needs to remain elevated to confirm the current momentum.
Buy at: ₹204.45
Target price: ₹235– ₹240
Stop loss: ₹189
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How the market performed on Friday
The Nifty 50 ended the session 319.15 points or 1.29% higher to close at 25,112.40. The BSE Sensex also closed in the green, gaining 1,046.30 points or 1.29% to finish at 82,408.17. Nifty Bank also saw weakness early on but recovered ground, ending 675.40 points or 1.22% higher at 56,252.85.
The realty index gained 2.11%, infrastructure rose 1.73%, and PSU banks were up 1.64%, showing strength in domestic-facing segments. No sector ended in the red, underscoring the recovery mood across the market.
Among individual gainers, Jio Finance led with a 3.57% gain, backed by strong institutional buying. Bharti Airtel climbed 3.18%, and Trent added 3.04%, indicating continued strength in select auto and consumer names.
On the flipside, Bajaj Auto fell 2.52%, while Hero MotoCorp declined 2.01%, and Dr. Reddy’s slipped 1.57% as profit-booking set in after recent rallies.
Nifty technical analysis: daily & hourly
The Nifty opened flat but maintained a steady upward trajectory throughout the session, ultimately closing with robust gains of around 319 points. This move marked a significant breakout above the recent consolidation zone of 24,700–25,000 on the daily charts, indicating a likely continuation of the ongoing uptrend. Notably, the index ended the day above the key psychological level of 25,000, reinforcing the bullish sentiment. With this breakout, the next upside target appears to be around 25,600, which coincides with the upper Bollinger Band on the weekly chart.
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From a technical standpoint, the outlook remains positive. Both the daily and hourly momentum indicators have registered a bullish crossover, typically interpreted as a buy signal. The 20-day moving average, positioned at 24,860, is expected to serve as a key support level in the near term.
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Additional technical observations show that the Nifty is trading comfortably above both its 20-day and 40-day exponential moving averages, which are currently at 24,862 and 24,597 respectively. However, the daily momentum indicator (MACD) still reflects a negative crossover, with the daily MACD reading at 121, suggesting some caution. On the hourly chart, the index remains above the 20-hour and 40-hour moving averages at 24,873 and 24,896 respectively, and the hourly MACD is at 55, supporting continued strength. The Relative Strength Index (RSI) also reflects bullish momentum, with a daily RSI at 59 and hourly RSI at 65.
Options data further confirms the bullish undertone. The Put-Call Ratio (PCR) stands at 1.12, indicating more aggressive put writing relative to calls. Total Put Open Interest (OI) is at 16.10 crore, exceeding the Call OI of 14.21 crore, with a net difference of 1.90 crore in favor of puts. This suggests a bullish positioning in the options space. The maximum Call OI is concentrated at the 26,000 strike, while the highest Call OI change was observed at the 27,000 strike. On the put side, the 25,000 strike holds both the maximum OI and the largest change in OI, indicating strong support at this level.
The total change in Put OI (6.15 crore) outpaced that of Calls (3.38 crore), resulting in a 2.77 crore difference — again highlighting bullish sentiment. The overall OI and change in OI trends are both marked as bullish.
Lastly, India VIX, the volatility index, declined by 4.10% to settle at 13.67, suggesting reduced market uncertainty and supporting the stability of the current uptrend.
In summary, the technical structure, momentum indicators, options data, and declining volatility all point towards a strong and sustained bullish trend, with 25,600 as the next immediate resistance level.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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