Trade Spotlight: How should you trade Indus Towers, Kotak Mahindra Bank, NRB Bearings, ICICI Lombard, KFin Technologies, M&M, and others on June 23?

With Friday's strong close, Indus Towers has decisively surpassed its past three months’ down-sloping trendline resistance at Rs 398 on a closing basis, confirming bullish sentiment. This breakout is accompanied by huge volumes, signifying increased participation. The daily Bollinger Bands buy signal indicates increased momentum. The stock is well-placed above its 20, 50, and 100-day SMAs, which reconfirms a bullish trend. The daily, weekly, and monthly RSI indicators point to rising strength. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 425, Rs 444

Stop-Loss: Rs 398

Kotak Mahindra Bank | CMP: Rs 2,169.8

Kotak Mahindra Bank is in a strong uptrend, forming a series of higher tops and bottoms across all time frames. The stock is well-placed above its 20, 50, 100, and 200-day SMAs, and these averages are also inching up along with prices, reconfirming the bullish trend. The stock is strongly sustaining above its multi-year resistance zone of Rs 2,055, which reconfirms bullish sentiment. The daily, weekly, and monthly RSI indicators suggest rising strength. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 2,255, Rs 2,320

Stop-Loss: Rs 2,130

NRB Bearings | CMP: Rs 290.2

On the weekly chart, NRB Bearings has witnessed a breakout from a one-year down-sloping trendline on a closing basis. This breakout is accompanied by high volumes, signifying increased participation. The stock is well-placed above its 20, 50, 100, and 200-day SMAs, which are also trending upward with prices, reaffirming a bullish trend. The daily and weekly Bollinger Bands buy signal indicates increased momentum. The daily, weekly, and monthly RSI indicators show rising strength. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 315, Rs 345

Stop-Loss: Rs 280

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

ICICI Lombard General Insurance Company | CMP: Rs 1,971

ICICI Lombard General Insurance has shown impressive growth over the past couple of months, following a cycle of higher highs and higher lows. This surge has been supported by several key developments, beginning with a rounding base formation and a breakout above the 200-day SMA—suggesting building market interest and a potential trend reversal. Additionally, the 14-day RSI shows a positive crossover, adding a bullish note. These technical indicators suggest that ICICI Lombard General Insurance may be entering a period of sustained growth, making it an attractive option for investors. We recommend buying the stock on dips around Rs 1,950–1,940.

Strategy: Buy

Target: Rs 2,100

Stop-Loss: Rs 1,860

KFin Technologies | CMP: Rs 1,272.5

KFin Technologies has seen a decent move after a consolidation phase and is now trading above all key EMAs and the 200-day SMA. The recent buying traction has been backed by rising trading volumes, attributed to positive developments. The counter has also formed a higher low on the daily chart and is positioned above the 50% Fibonacci retracement level of the recent fall—adding to the bullish outlook. Technical indicators align with the positive momentum, suggesting further upside potential. We recommend buying KFin Technologies on dips around Rs 1,250–1,230.

Strategy: Buy

Target: Rs 1,380

Stop-Loss: Rs 1,160

Mahindra and Mahindra | CMP: Rs 3,184.4

Mahindra and Mahindra has experienced a gradual resurgence over recent trading sessions, culminating in a strong weekly close. The stock is firmly positioned above all its short-term EMAs on the daily timeframe after an extended period, indicating inherent strength. It has also witnessed a breakout from a sloping trendline during its consolidation phase, backed by a positive crossover on the 14-day RSI. These factors support a bullish outlook. We recommend buying M&M around Rs 3,150–3,120.

Strategy: Buy

Target: Rs 3,340, Rs 3,380

Stop-Loss: Rs 3,020

Anshul Jain, Head of Research at Lakshmishree Investments

TVS Motor Company | CMP: Rs 2,812.1

TVS Motor is on the verge of a bullish breakout on the daily chart, forming a 169-day-long cup-and-handle pattern. While the cup formation was broad, the handle has been exceptionally tight, with ideal volume behaviour—lower on down days and higher on up days. The pattern is maturing, with short-term weekly EMAs having caught up. The last 8–9 weeks have shown tight weekly closes. A breakout above Rs 2,840 could propel the stock toward Rs 3,200.

Strategy: Buy

Target: Rs 3,050, Rs 3,200

Stop-Loss: Rs 2,700

Apollo Hospitals Enterprises | CMP: Rs 7,063.5

Apollo Hospitals is forming a flag-like pattern on the daily chart, resembling a rounding formation. Following a sharp, pole-like upmove, the flag has allowed short-term weekly moving averages to catch up, setting the stage for a potential breakout. A move above Rs 7,100 appears highly likely, but confirmation will require strong volumes. The current consolidation has occurred on below-average volumes, which is typical; however, the loose structure requires a high-volume breakout to validate a sustained uptrend.

Strategy: Buy

Target: 7,500

Stop-Loss: Rs 6,900

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