The benchmark indices took a breather after a day of sharp rally, with the Nifty 50 declining by 0.2 percent due to profit booking on February 5. However, the market breadth remained positive, with 1,796 shares advancing compared to 773 shares that saw corrections on the NSE. Overall, the sentiment remains in favour of bulls despite Wednesday's consolidation. Below are some trading ideas for the near term:
Vidnyan S Sawant, Head of Research at GEPL Capital
Taj GVK Hotels & Resorts | CMP: Rs 424.65
On the monthly scale, Taj GVK Hotels has witnessed a structural shift, with the 2006 resistance turning into strong support in October 2024, reinforcing its bullish foundation. The weekly chart confirms an uptrend with higher highs and higher lows since June 2022. Demand near the 61.8% Fibonacci retracement (Rs 281–Rs 458) strengthens the bullish structure. On the daily scale, strong buying near the 200-day EMA and a bullish MACD (Moving Average Convergence Divergence) signal further upside potential.
Strategy: Buy
Target: Rs 512
Stop-Loss: Rs 392
Aeroflex Industries | CMP: Rs 264.2
Aeroflex has sustained a rising trend for 10 consecutive months. On the weekly scale, it remains above the 12 and 26-week EMAs (Exponential Moving Averages), confirming a bullish mean reversion. A recent episodic pivot gap on the daily chart has fueled strong price action, while the RSI (Relative Strength Index) above 60 reinforces bullish momentum.
Strategy: Buy
Target: Rs 304
Stop-Loss: Rs 245
Max Healthcare Institute | CMP: Rs 1,169.7
Max Healthcare Institute maintains a robust bullish structure with consistent higher tops and bottoms. The weekly chart highlights a rebound from the 26-week EMA, reinforcing its positive stance. RSI, rising to 61, signals strengthening momentum and trend continuation.
Strategy: Buy
Target: Rs 1,371
Stop-Loss: Rs 1,090
Muthoot Finance | CMP: Rs 2,266.15
Despite market volatility, Muthoot Finance has shown strong resilience, maintaining a structure of higher tops and higher bottoms. On the daily scale, it continues to find strong support from the rising trendline connecting higher lows. The momentum indicator, RSI, has been above the 60 mark, denoting a positive trend backed by bullish momentum.
Strategy: Buy
Target: Rs 2,645
Stop-Loss: Rs 2,100
Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan
Crompton Greaves Consumer Electricals | CMP: Rs 367
Crompton Greaves Consumer has broken out of a falling channel on the upside, indicating a trend reversal. During the last three sessions, it has been consolidating in a narrow range, which is likely to breakout on the upside. The momentum indicator has a positive crossover, which is a buy signal.
Strategy: Buy
Target: Rs 391
Stop-Loss: Rs 357
Hero MotoCorp | CMP: Rs 4,270.4
Hero MotoCorp has retraced towards the support zone of Rs 4,220 – Rs 4,200, which coincides with the 61.8% Fibonacci retracement level of the previous five-wave advance. With the daily momentum indicator showing positive signs, we expect the stock to resume its next leg of upward movement towards Rs 4,500 – 4,700.
Strategy: Buy
Target: Rs 4,500, Rs 4,700
Stop-Loss: Rs 4,100
Shitij Gandhi, Senior Technical Research Analyst at SMC Global Securities
Global Health | CMP: Rs 1,152.9
Global Health has been maintaining its downtrend in recent weeks, with a series of declines from Rs 1,190 levels to Rs 1,000 levels, forming a lower high and lower bottom pattern. This week, fresh bullish momentum has picked up in the stock above the falling trendline of its downward-sloping channel, as prices once again breakout above its 200-day exponential moving average on daily charts. Therefore, one can accumulate the stock in the range of Rs 1,130–1,140.
Strategy: Buy
Target: Rs 1,285, Rs 1,290
Stop-Loss: Rs 1,030
L&T Finance | CMP: Rs 152.86
For the past few months, L&T Finance has been consolidating in a broader range of Rs 135–150, with prices sustaining well below its 200-day EMA on daily charts. Technically, the stock has given a fresh breakout above its 200-day EMA after a period of prolonged consolidation. The breakout was observed above the key resistance of Rs 150, accompanied by marginally higher volumes. Therefore, one can accumulate the stock in the range of Rs 150–152 for the expected upside of Rs 174–175 levels.
Strategy: Buy
Target: Rs 174, Rs 175
Stop-Loss: Rs 135
City Union Bank | CMP: Rs 179.4
City Union Bank has been maintaining its momentum well above its 200-day EMA on daily charts, with prices getting support there multiple times. Technically, the stock has formed a double-bottom pattern around Rs 162 levels and given a breakout above its key resistance level of Rs 178 after a period of consolidation. The breakout was observed above the W-pattern, supported by positive divergences on secondary oscillators. Therefore, one can accumulate the stock in the range of Rs 175–178 for the expected upside of Rs 194–195 levels.
Strategy: Buy
Target: Rs 194, Rs 195
Stop-Loss: Rs 165
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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