Indian benchmark indices staged a sharp rebound from day’s low and posted smart gains on Tuesday amid weekly expiry of Nifty contracts. Optimism around trade deal with the US supported the sentiments. BSE Sensex surged 335.97 points, or 0.40 per cent, to settle at 83,871.32, while NSE’s Nifty50 jumped 120.60 points, or 0.47 per cent, to close at 25,694.95 for the day.
Select buzzing stocks including Welspun Corp, Alkem Laboratories and Angle One are likely to remain under the spotlight of traders for the session today. Here is what a couple of brokerage firms have to say about these stocks ahead of Wednesday’s trading session:
Angel One | Buy | Target Price: Rs 2,930 | Stop Loss: Rs 2,410
Angel One has given a decisive breakout above the rectangle channel on the daily chart, signaling a strong bullish continuation. The stock closed firmly above its breakout zone, supported by a noticeable surge in trading volumes, confirming buyer dominance. Additionally, the 21-day EMA has crossed above the 55-day EMA, reinforcing short-term momentum strength. The MACD has turned positive, indicating a sustained upward bias. With technical indicators aligning positively, Angel One is well-positioned for further upside, and any minor dip toward the breakout zone could offer a fresh buying opportunity for positional traders
Recommended by: Master Capital Services
Welspun Corp | Buy | Target Price: Rs 1,150 | Stop Loss: Rs 830
Welspun Corp registered a decisive breakout above the downward-sloping trendline on strong volumes, signaling renewed bullish momentum. Post-breakout, it retested the trendline support and rebounded sharply, confirming the validity of the breakout and a shift in trend bias toward the upside. Prices are trading well above the 21, 50, and 100-day SMAs, reaffirming a strong bullish structure. The RSI also mirrored the price action, retesting its trendline support and currently hovering near the 60 level, indicating a healthy consolidation within bullish territory. The MACD line crossing above the signal line confirms a bullish crossover, supporting continued upward momentum. We recommend a long position in the Rs 920-940 range, maintaining a stop-loss at Rs 830, with an upside target of Rs 1,150.
Recommended by: Geojit Investments
Alkem Laboratories | Buy | Target Price: Rs 5,350 | Stop Loss: Rs 6,400-6,500
Alkem Labs has given a breakout from a multi month consolidation phase on the weekly chart, supported by strong bullish candles. The stock is forming higher highs and higher lows, confirming a sustained uptrend. It is trading well above key moving averages, indicating strong underlying momentum. The breakout above the Rs 5,450-5,500 zone validates a bullish continuation pattern, with price action showing strength and follow-through, suggesting further upside potential in the coming sessions. Traders are advised to consider buying Alkem in the zone of Rs 5,630-5,680, with a potential to ride the ongoing uptrend toward Rs 6,400-6,500 in the Short term. A stop loss below 5350 is prudent to mitigate any potential downside
Recommended by: Master Capital Services
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.