Trade Spotlight: How should you trade Biocon, Equitas Small Finance Bank, Minda Corporation, KFin Technologies, Blue Star, and others on January 16?

Amber Enterprises has exhibited a robust price structure since 2023, forming higher highs and higher lows, signaling a potential continuation of its upward trend. On the daily chart, a change in polarity highlights a strengthening bullish setup. The MACD (Moving Average Convergence Divergence) indicator reinforces this momentum, displaying higher waves and confirming sustained positivity.

Strategy: Buy

Target: Rs 8,272

Stop-Loss: Rs 6,519

Blue Star | CMP: Rs 1,917.8

Blue Star has sustained a bullish structure, maintaining its upward momentum since 2022 following a breakout from a rising trendline. The stock trades comfortably above its 12-week and 26-week EMAs (Exponential Moving Averages), underscoring a strong trend. Additionally, the ratio chart indicates a rising trajectory, signaling potential for continued outperformance.

Strategy: Buy

Target: Rs 2,203

Stop-Loss: Rs 1,780

PG Electroplast | CMP: Rs 849.85

PG Electroplast continues its upward journey, forming higher bottoms and consistently staying above the 12-week and 26-week EMAs, reinforcing bullish momentum. On the daily chart, the stock has witnessed a bullish mean reversion from the 50-day EMA. The ratio chart shows a steady rise, highlighting strong relative strength.

Strategy: Buy

Target: Rs 1,018

Stop-Loss: Rs 788

KFin Technologies | CMP: Rs 1,244.15

KFin Technologies is in an uptrend on the weekly scale, holding strong support above its 12-week and 26-week EMAs. A polarity shift on the weekly chart suggests the stock is poised to extend its upward momentum. On the daily chart, bullish mean reversion signals from the 100-day EMA further reinforce the likelihood of continued upward movement.

Strategy: Buy

Target: Rs 1,458

Stop-Loss: Rs 1,155

Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan

Biocon | CMP: Rs 382.05

Biocon has broken out of a Cup and Handle pattern on the daily charts. The daily momentum indicator has a positive crossover, which is a buy signal. We expect the stock to trade with a positive bias and target levels of Rs 396 – Rs 405. A stop-loss of Rs 369 should be maintained for long positions.

Strategy: Buy

Target: Rs 396, Rs 405

Stop-Loss: Rs 369

Aarti Industries | CMP: Rs 429.75

Aarti Industries has witnessed a trend reversal on the daily charts. Positive divergence on the daily momentum indicator suggests exhaustion of selling pressure. We expect a retracement of the decline and target levels of Rs 458 – Rs 473 from a short-term perspective. A stop-loss of Rs 411 should be maintained for long positions.

Strategy: Buy

Target: Rs 458, Rs 473

Stop-Loss: Rs 411

Shitij Gandhi, Senior Technical Research Analyst at SMC Global Securities

Minda Corporation | CMP: Rs 568.25

Since the last few months, Minda Corporation has been consolidating in a broader range of Rs 490-550, with prices sustaining well above its 200-day exponential moving average on daily charts. Technically, the stock has formed a Triple Bottom pattern on daily charts around the Rs 485 level and given a breakout above the consolidation zone. Therefore, one can accumulate the stock in the range of Rs 560-570 for the expected upside of Rs 645-650, with a stop-loss below Rs 510.

Strategy: Buy

Target: Rs 645, Rs 650

Stop-Loss: Rs 510

Equitas Small Finance Bank | CMP: Rs 70.97

Equitas Small Finance Bank has been maintaining its downtrend, as prices have witnessed a series of declines from Rs 85 levels to Rs 62 over several months. Recently, the stock recovered from the Rs 62 level and once again gained fresh momentum above its key resistance level of Rs 70, after forming a rounding bottom pattern on broader charts. Additionally, the stock has given a breakout above the Cup & Handle pattern along with positive divergences on secondary oscillators. Therefore, one can accumulate the stock in the range of Rs 70-71 for the expected upside of Rs 78-79, with a stop-loss below Rs 65.

Strategy: Buy

Target: Rs 78, Rs 79

Stop-Loss: Rs 65

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