Trade Spotlight: How should you trade Apex Frozen, Hero MotoCorp, Tata Communications, Mahindra Finance, Global Health, and others on November 24?

Top Buy Ideas for November 24

Equity benchmarks saw profit booking after a couple of days of correction, with the Nifty 50 declining nearly half a percent on November 21. The market breadth remained weak, with 2,132 shares declining compared to 697 advancing shares on the NSE. The market is expected to be rangebound until it trades below the previous week’s high. Below are some short-term trading ideas to consider:

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Apex Frozen Foods | CMP: Rs 331.75

On the daily and weekly charts, Apex Frozen Foods has experienced a short- and medium-term trend reversal, forming a series of higher tops and bottoms. With the current weekly close, the stock has decisively surpassed the last 3–4 years’ down-sloping trendline on a closing basis, along with huge volumes, which signify increased participation.

The daily and weekly Bollinger Band buy signals indicate increased momentum. The daily, weekly, and monthly strength indicator RSI shows rising strength. The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms a bullish trend.

Strategy: Buy

Target: Rs 435, Rs 500

Stop-Loss: Rs 310

Hero MotoCorp | CMP: Rs 6,002.5

Hero MotoCorp has registered an over 8% rally and has decisively surpassed the past couple of months’ multiple resistance zone of Rs 5,700 on a closing basis. This breakout is accompanied by huge volumes, which reconfirms increased participation.

The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily and weekly strength indicator RSI shows rising strength.

Strategy: Buy

Target: Rs 6,300, Rs 6,400

Stop-Loss: Rs 5,900

Safari Industries India | CMP: Rs 2,275

With the past couple of weeks’ price action, Safari Industries has broken out of a one-year down-sloping trendline at Rs 2,250 on a closing basis. Huge volumes on a closing basis signal increased participation. This buying was observed around the major multiple support zone of Rs 2,000–1,930.

The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily and weekly strength indicator RSI indicates rising strength.

Strategy: Buy

Target: Rs 2,450, Rs 2,515

Stop-Loss: Rs 2,230

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

Global Health | CMP: Rs 1,226.9

Global Health has experienced a pronounced correction in recent weeks, resulting in a decline that has pushed the stock price below all significant EMAs, including the 200-DSMA. These developments have also pushed the technical indicators into oversold territory.

However, support is evident from an ascending trendline, which highlights a robust demand zone. Furthermore, a positive crossover in the 14-day RSI has been observed, indicating an early sign of a potential counter-trend reversal. Hence, we recommend buying Global Health around Rs 1,200.

Strategy: Buy

Target: Rs 1,280, Rs 1,300

Stop-Loss: Rs 1,140

Tata Communications | CMP: Rs 1,920.9

Tata Communications has been consistently trading above its significant exponential moving averages (EMAs) following a rebound from the neckline of a breakout that coincides with the 50% Fibonacci retracement level of the recent rally.

The stock has demonstrated a breakout from a sloping trendline on the daily chart, coupled with a positive crossover in the 14-day Relative Strength Index (RSI), which suggests a bullish outlook in the near term. Hence, we recommend buying Tata Communications around Rs 1,910–1,900.

Strategy: Buy

Target: Rs 2,020, Rs 2,050

Stop-Loss: Rs 1,820

Anshul Jain, Head of Research at Lakshmishree Investments

M&M Financial Services | CMP: Rs 342.55

Mahindra and Mahindra Financial Services (Mahindra Finance) has broken out on the weekly charts from a 396-week cup-and-handle pattern, with the handle forming a tight flat base. Volume behaviour in the handle was ideal, and although the breakout printed only satisfactory volume, the strong candle suggests volume expansion ahead.

The immediate hurdle sits near Rs 399, yet the pattern structure points toward a broader move. Holding above the breakout zone can drive momentum toward the Rs 500 mark and beyond. The overall setup stays bullish with rising support and improving trend strength. Traders may watch for steady closes above resistance zones.

Strategy: Buy

Target: Rs 399, Rs 500

Stop-Loss : Rs 310

Ethos | CMP: Rs 2,901.7

Ethos is building an 83-day cup-and-handle pattern supported by steady and healthy volume. The handle shows tight action that often precedes a clean breakout. Moving averages have risen to meet the price and now act as a strong launchpad. A decisive move above Rs 2,925 would confirm the breakout and set up a fast push toward Rs 3,200.

Sustained momentum above that zone can drive an extension to Rs 3,500 in the near term. The setup remains constructive while the price holds above the handle base and volume expands during strength. This overall structure favours disciplined traders watching for sustained confirmation.

Strategy: Buy

Target: Rs 3,200, Rs 3,500

Stop-Loss: Rs 2,800

Arihant Capital Markets | CMP: Rs 96.97

Arihant Capital is shaping a 63-week cup-and-handle pattern on the weekly charts, with the handle forming a four-bar mini coil that signals tightening and near completion of consolidation. A sustained move above Rs 104 would confirm the breakout and open an immediate push toward the mother-bar high at Rs 120. Strength above 120 would confirm a firm bull trend and pave the way for further upside.

The pattern structure, rising support, and tight price action highlight strong accumulation and a setup that favours momentum traders watching for decisive confirmation in the coming week. Breakout conditions remain favourable.

Strategy: Buy

Target: Rs 120

Stop-Loss: Rs 91