Trade Spotlight: How should you trade Aster DM Healthcare, Astral, JB Chemicals, ONGC, Honasa Consumer, SBI Card, and others on February 20?

Top Buy Ideas on February 20

• Experts advise buying top 9 stock ideas on February 20 including Aster DM Healthcare, Astral, JB Chemicals, ONGC, Honasa Consumer, SBI Card

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The benchmark indices on February 19 recorded their biggest single-day fall since February 1, with the Nifty 50 shedding 1.41 percent after three days of gains. Market breadth turned bearish, with about 2,235 shares declining against 687 advancing shares on the NSE. The market is expected to consolidate with a negative bias. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

Astral | CMP: Rs 1,621

Astral has broken out above a long consolidation range in recent sessions, clearing the Rs 1,590–1,596 zone with conviction. The price now trades comfortably above all key EMAs, which are sloping upward. Momentum indicators (RSI and MACD) remain in bullish territory and suggest strong continuation potential.

Trend indicators show a bullish bias, with the ADX confirming that the trending move is likely to persist. Any dip toward Rs 1,585–1,600 should be viewed as a high-probability buying opportunity, as long as the breakout zone holds.

Strategy: Buy

Target: Rs 1,750, Rs 1,800

Stop-Loss: Rs 1,530

Aster DM Healthcare | CMP: Rs 636.8

Aster DM found strong support at the rising trendline on February 4, forming a hammer candle followed by robust buying with expanding volume. On the daily chart, it has developed a triple-bottom pattern with multiple bullish divergences and has recently reclaimed key EMAs.

Momentum indicators (RSI and MACD) point to a bullish bias and accelerating momentum. Trend indicators favour the bulls, with the ADX supporting a trending move ahead. The structure remains positive as long as support holds.

Strategy: Buy

Target: Rs 660, Rs 700

Stop-Loss: Rs 586

Larsen & Toubro | CMP: Rs 4,280.5

Larsen & Toubro broke out above a consolidation range and marked a fresh all-time high on February 18, backed by steadily rising positive volume, indicating increasing buyer participation. The small pre-breakout consolidation zone is now expected to act as solid support.

The price trades well above all key EMAs, which are sloping upward. Momentum indicators (RSI and MACD) confirm a bullish bias and strong continuation potential. Trend indicators are also bullish, with the ADX signalling that the trending move is likely to persist.

Strategy: Buy

Target: Rs 4,475, Rs 4,650

Stop-Loss: Rs 4,124

Hitesh Tailor, Technical Research Analyst at Choice Broking

JB Chemicals & Pharmaceuticals | CMP: Rs 1,992.4

JB Chemicals is showing strong signs of strength after delivering a breakout above a key horizontal resistance zone and continuing its upward move. The stock remains above its key 20-, 50-, and 200-day EMAs, indicating a well-aligned bullish trend.

It is consistently forming a higher high–higher low structure, supported by healthy volumes, which reflects sustained buying interest. The RSI stands at 65.43 and has rebounded from its support zone, signalling rising upside momentum.

Based on the technical structure, short-term traders may consider buying at CMP, with a stop-loss of Rs 1,900 and a target of Rs 2,200, while applying appropriate risk management.

Strategy: Buy

Target: Rs 2,200

Stop-Loss: Rs 1,900

Petronet LNG | CMP: Rs 301.8

Petronet LNG is witnessing a rising uptrend emerging from a strong base formation, signalling a positive shift in trend. The stock has delivered a breakout above a falling trendline and, after taking strong support near the breakout zone with healthy volumes, is moving higher—indicating solid accumulation.

It continues to trade above its key EMAs, reinforcing the bullish structure. The RSI stands at 58.34 and is forming a higher high–higher low pattern, signalling strengthening momentum. Based on the technical parameters, short-term traders may consider buying at CMP, with a stop-loss of Rs 290 and a target of Rs 325, while ensuring appropriate risk management.

Strategy: Buy

Target: Rs 325

Stop-Loss: Rs 290

Honasa Consumer | CMP: Rs 304.35

Honasa Consumer has recently delivered a decisive breakout above its trendline resistance. The stock successfully retested the breakout zone and is now moving higher, indicating strong bullish confirmation and sustained buying interest.

It continues to trade above its key 20-, 50-, and 200-day EMAs, reflecting a robust technical structure and positive trend alignment. The RSI stands at 65.59, signalling rising momentum and strength in the near term without immediate overbought concerns.

Based on the prevailing technical setup, a buy is recommended at CMP, with a stop-loss of Rs 288 and a target of Rs 335, while maintaining disciplined risk management.

Strategy: Buy

Target: Rs 335

Stop-Loss: Rs 288

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

ONGC | CMP: Rs 274.65

Oil and Natural Gas Corporation is displaying a strong short-term bullish structure on the daily chart, marked by a clear sequence of higher highs and higher lows after a sharp impulsive rally. The stock recently formed a Morning Star reversal pattern near the 20-EMA cluster around Rs 262–265, confirming buying interest on dips.

The price is now trading above its 20-, 50-, and 100-day moving averages, indicating positive moving average alignment, while the RSI is holding above 60, reflecting sustained bullish momentum without extreme overbought readings. Volumes have expanded during up moves, validating participation. The structure suggests potential toward Rs 296, while Rs 262 acts as a critical stop-loss, below which the bullish structure would weaken.

Strategy: Buy

Target: Rs 296

Stop-Loss: Rs 262

SBI Cards and Payment Services | CMP: Rs 798.2

SBI Card has staged a sharp rebound after a prolonged corrective decline from the Rs 900 zone, forming a short-term rounding base. The stock has now reclaimed its 20-day moving average and is attempting a breakout above the immediate horizontal resistance near Rs 800, indicating a potential shift from distribution to accumulation.

The recent sequence of higher lows reflects an improving price structure, while volumes have expanded on up moves, supporting the recovery bias. The RSI has rebounded strongly from oversold territory and is now near 55, signalling strengthening momentum without being overbought. The setup suggests an early trend reversal with improving momentum and base confirmation. The structure indicates potential toward Rs 862, while Rs 760 acts as a critical stop-loss, below which the reversal structure would weaken.

Strategy: Buy

Target: Rs 862

Stop-Loss: Rs 760

Data Patterns India | CMP: Rs 2,914

Data Patterns is exhibiting a strong bullish recovery structure on the daily chart following a sharp V-shaped reversal from lower levels. The stock is decisively trading above its 10-day and 20-day moving averages, along with its longer-timeframe moving averages, indicating sustained momentum and a well-established bullish price structure.

It has delivered a breakout above its horizontal resistance zone, confirming a range expansion and signalling renewed buying interest. Momentum remains supportive, with the RSI sustaining above the 60 mark, reflecting a strengthening bullish bias, while improving volumes during the upswing validate participation behind the move.

The overall structure indicates potential toward Rs 3,150, whereas Rs 2,790 remains a crucial stop-loss level; a breach below this would weaken the current reversal framework and momentum structure.

Strategy: Buy

Target: Rs 3,150

Stop-Loss: Rs 2,790