The benchmark indices rebounded sharply from the day's low and closed one percent higher on December 13, despite a negative market breadth. A total of 1,432 shares declined against 1,056 advancing shares on the NSE. The market may see some rangebound trade after Friday's rally, though the overall trend remains positive, given the decline in the VIX. Below are some trading ideas for the near term:
Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities
ICICI Bank | CMP: Rs 1,344.9
ICICI Bank is trending higher on the weekly and monthly charts, forming a series of higher tops and bottoms, indicating a strong uptrend. On the daily chart, the stock has decisively surpassed the past couple of months' "multiple resistance" zone of Rs 1,340 levels on a closing basis. Rising volumes signify increased participation. The stock is well placed above its 20, 50, 100, and 200-day SMA (Simple Moving Average), with these averages also inching up along with the price rise, reaffirming the bullish trend.
The daily, weekly, and monthly strength indicator RSI (Relative Strength Index) is in favourable terrain, which justifies the rising strength across all time frames. Investors should buy, hold, and accumulate this stock with an expected upside of Rs 1,390-1,450 and a downside support zone of Rs 1,313-1,300.
Strategy: Buy
Target: Rs 1,390, Rs 1,450
Stop-Loss: Rs 1,313
CRISIL | CMP: Rs 5817.75
CRISIL is in a strong uptrend across time frames, forming a series of higher tops and bottoms. Recently, it recaptured its 20-day SMA and rebounded sharply. With the recent close, the stock has decisively broken its six weeks' "consolidation range" on a closing basis, indicating a positive bias. Huge volumes on the breakout signify increased participation. The daily and weekly "Bollinger Bands" justify increased momentum. The stock is well placed above its 20, 50, 100, and 200-day SMA, and these averages are also inching up along with the price rise, reaffirming the bullish trend. Investors should buy, hold, and accumulate this stock with an expected upside of Rs 6,130-6,385 and a downside support zone of Rs 5,650-5,500.
Strategy: Buy
Target: Rs 6,130, Rs 6,385
Stop-Loss: Rs 5,650
KPR Mill | CMP: Rs 1,080.35
On the daily chart, KPR Mill has confirmed a "rounding bottom" formation breakout at the Rs 1,055 level on a closing basis. On the weekly chart, the stock is trending higher in the "up-sloping channel," indicating a sustained uptrend. The daily, weekly, and monthly strength indicator RSI (Relative Strength Index) is in favourable terrain, which justifies the rising strength across all time frames. Investors should buy, hold, and accumulate this stock with an expected upside of Rs 1,185-1,300 and a downside support zone of Rs 1,010-970.
Strategy: Buy
Target: Rs 1,185, Rs 1,300
Stop-Loss: Rs 1,010
Rajesh Bhosale, Technical Analyst at Angel One
Kesoram Industries | CMP: Rs 232.1
Kesoram Industries is displaying a multiple-pattern formation. After reaching highs around Rs 230 in September, the prices experienced a correction alongside broader markets. However, they have since formed a double bottom around Rs 205 levels and crossed the previous swing high, entering uncharted territory with a Saucer formation. Additionally, a pennant continuation pattern breakout is evident upon close observation of the charts. These developments are further supported by strong volumes, indicating robust interest in this counter. Hence, we recommend buying Kesoram Industries around Rs 232-230.
Strategy: Buy
Target: Rs 248
Stop-Loss: Rs 224
Bharti Airtel | CMP: Rs 1,681.75
After forming a base around the key 89 DEMA, Bharti Airtel's prices have established a higher top, higher bottom formation, signaling the start of a bullish cycle. This setup also confirms a Cup and Handle breakout, further strengthening the bullish outlook. During the week, prices surged with strong volumes, reflecting renewed buying interest. Additionally, the RSI indicator crossing the 60 mark highlights positive momentum flow in this counter. Hence, we recommend buying Bharti Airtel around Rs 1,682-1,675.
Strategy: Buy
Target: Rs 1,835
Stop-Loss: Rs 1,600
Kushal Gandhi, Technical Analyst at StoxBox
Protean e-Gov Technologies | CMP: Rs 1,978.5
Protean e-Gov Technologies recently experienced a decline of nearly 25% due to profit booking, following an impressive rise of 139% from the June lows to reach a record high of Rs 2,225. It is now showing potential signs of a trend reversal from the demand zone around the Rs 1,710 level. Furthermore, the observed phenomena suggest that savvy investors are likely continuing to hold their positions, which could help limit drawdowns beyond the support level near Rs 1,710—a positive indication for future performance.
The activity noted on December 9 points to passive buyers becoming more engaged during this corrective phase, actively working to reclaim strength from sellers. The stock has immediate support at the 50 DMA, presenting a favourable risk-to-reward opportunity for purchasing shares of Protean, with a target price of Rs 2,225 and a stop-loss set at Rs 1,854.
Strategy: Buy
Target: Rs 2,225
Stop-Loss: Rs 1,854
Krystal Integrated Services | CMP: Rs 776.85
The price action of Krystal Integrated Services suggests a potential trend reversal as it nears the conclusion of Stage 1 in stock cycle analysis, which typically represents the accumulation phase. Following a shakeout near the demand zone of Rs 690-685, the stock has experienced a sharp recovery characterized by increasing volumes and strong momentum participation. This positive development has led to an uptick in buyer demand.
Currently, the stock is supported by shorter-term moving averages and has shown considerable improvement in relative strength compared to the Nifty50 index. The daily RSI is trading well above the median and does not exhibit any divergence from the price, indicating the gathering of further bullish momentum. We recommend purchasing shares of Krystal with a target price of Rs 875 and advise maintaining a stop-loss at Rs 737.
Strategy: Buy
Target: Rs 875
Stop-Loss: Rs 737
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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