Nifty may test 9,500 levels; 5 stocks which can give up to 20% return

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26 Aug, 2025 12:21

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The Nifty has been trading sideways in the band of 9,300-9,400 since last 8 trading sessions. However, derivative data indicates long rollover to May series by foreign institutional investors (FIIs) with an average rollover price of 9,300. Most importantly, Nifty is trading above this level.

Put writers sold heavily in the expiry week and are still holding put sold positions. Post expiry, no major short build-up was seen by FIIs; however, they have been liquidating some on index long carry forward position.

Now, the Nifty has multiple strong supports at lower levels around 9,250, 9,200 and 9,170. In the May series, we are seeing options open interest is building up in 9,300 puts which indicate higher probability of upside breakout in prices from recent consolidations.

From current scenario, we expect Nifty to trade high and can test 9,500 levels going forward as far 9,250 levels is intact.

The stock has been relatively trading high since late 2016 and has given a sharp rally in prices from Rs 260 to Rs 400 in past. In Tuesday’s session, the stock has again given another breakout from its consolidation phase with hefty volumes.

Moreover, positive divergence in oscillators on daily charts is also well supportive for the stock. Traders can accumulate the stock in a range of Rs 395-400 for the upside target of Rs 445 with a stop loss below Rs 370.

The stock has been an underperformer within the market and the banking space. It has been consolidating in a broader range of Rs 480-520 for quite a while. The stock has its major support of Rs 498 on downside where its 200-DEMA is also well placed.

On the daily charts, the stock has made triple bottom formation around Rs 485 levels and bounced sharply from there to once again retain above its 200-DEMA.

On the weekly chart, the stock has formed rectangle formation and is on verge of giving breakout above its resistance level of 530. Traders can accumulate the stock in a range of Rs 515-520 for the upside target of Rs 575 with the stop loss below Rs 480.

The stock has shown a sharp rally in prices from Rs 140-180 levels in the very short span of time in the recent past. Since then, the stock saw consolidation as it cooled off from recent highs.

In Tuesday’s session, bulls came back with large volumes along with spur in prices. On the daily charts, the stock has also formed bullish flag formation and has given break above its falling trend line.

Traders can accumulate the stock in the range of Rs 175-178 for the upside target of Rs 210 with a stop loss below Rs 156.

Last week, the stock has given a consolidation breakout above its multiple resistance levels and tested several weeks high with a large rise in volumes at lower levels. However, the minor pull back in prices has been seen in last few sessions but with marginally lower volumes.

Prices are still maintained above its breakout level of 29 and we believe that the bullish momentum is likely to remain intact in the scrip going forward as technical indicators along with volumes with rising prices are supporting this rally.

Traders can accumulate the stock in a range of 30-31 for the upside target of 35 with a stop loss below 28.

The sharp rise in prices took the stock from Rs 510 levels towards Rs 710 levels. Subsequently, pull back in prices has taken stock towards Rs 650 levels and since then it is trading in upwards channel making higher highs and higher lows on daily charts.

Moreover, short-term and the long-term moving averages along with positive oscillators are also well supporting the prices.

In the previous session, stock saw a breakout in prices and we believe that continuation of Bull Run is expected to remain in stock as far prices are maintaining above its important 100 and 200 DEMA. Traders can accumulate the stock in a range of Rs 710-700 for the upside target of Rs 790 with a stop loss below Rs 650.