Indian benchmark indices ended a volatile trading session with modest gains ahead of RBI’s monetary policy later today. Weakness in rupee and persistent FII outflows continued to limit gains. BSE Sensex rose 158.51 points, or 0.19 per cent, to settle at 85,265.32, while NSE’s Nifty50 gained 47.75 points, or 0.18 per cent, to close at 26,033.75 for the day.
Select buzzing defence stocks including IndusInd Bank, Coforge and Tata Consultancy Services (TCS) are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say on these stocks for Friday’s trading session:
Tata Consultancy Services | Buy | Target Price: Rs 3,400-3,500 | Stop Loss: Rs 3,080
TCS has shown a notable bullish shift after completing a rare diamond pattern on the daily chart, often considered a strong reversal formation. The breakout from this structure, supported by rising volumes, signals a potential trend reversal after a prolonged decline. The stock is also reclaiming key short term EMAs, reinforcing momentum strength. With price action recovering from the major 2,950 demand zone, TCS now exhibits a favourable setup for continued upside as long as it sustains above immediate support.
IndusInd Bank | Buy | Target Price: Rs 930-960 | Stop Loss: Rs 830
IndusInd Bank is displaying a constructive bullish structure as price is breaking out from its recent base formation. The stock is sustaining above key short term EMAs, indicating improving momentum, while the recent breakout attempt suggests growing market participation. A steady series of higher lows further reinforces trend strength. With the broader setup turning favourable and volatility contracting near resistance, IndusInd bank appears poised for a potential continuation move on sustained trade above 880, offering a positive risk reward outlook.
Coforge | Buy | Target Price: Rs 2,200-2,300 | Stop Loss: Rs 1,790
Coforge has confirmed a bullish continuation by breaking out of its ascending triangle pattern, showcasing strength after weeks of consolidation. The move above the horizontal resistance reflects solid demand and improving momentum. Price action remains well-supported by key moving averages, reinforcing the positive structure. Sustaining above the breakout zone can open the door for further upside, with any pullbacks expected to be bought into.
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.