Trade Spotlight: How should you trade Ipca Labs, MTAR Technologies, Equitas Small Finance Bank, Lupin, IDFC First Bank, and others on January 12?

Top Trading Ideas for January 12

• Experts suggest top 9 trading ideas for January 12 including Ipca Labs, MTAR Technologies, Equitas Small Finance Bank, Lupin, IDFC First Bank

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The benchmark indices fell more than seven-tenths of a percent on January 9, with further weakness seen in market breadth. A total of 2,317 shares were under pressure against 569 advancing shares on the NSE. The consolidation is likely to continue following a 2.5 percent loss last week. Below are some short-term trading ideas to consider:

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Ipca Laboratories | CMP: Rs 1,575

On the weekly chart, Ipca Laboratories has experienced a trend reversal by confirming a “triangular” breakout at the Rs 1,519 level on a closing basis. This breakout has been accompanied by huge volumes, signalling increased participation. The daily and weekly Bollinger Band signals indicate increased price movement.

The stock is well placed above its 20-, 50-, 100- and 200-day SMAs, which reconfirms the bullish trend. The daily, weekly and monthly strength RSI is in positive territory, signalling rising strength.

Strategy: Buy

Target: Rs 1,700, Rs 1,825

Stop-Loss: Rs 1,519

MTAR Technologies | CMP: Rs 2,689.7

MTAR Technologies is trending higher, forming a series of higher tops and bottoms, indicating a strong uptrend. Over the past 3–5 months, rising volumes indicate increased participation. The daily Bollinger Band signals indicate increased price movement.

The stock is well placed above its 20-, 50-, 100- and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms a bullish trend. The daily, weekly and monthly strength RSI is in positive territory, signalling rising strength.

Strategy: Buy

Target: Rs 2,900, Rs 3,000

Stop-Loss: Rs 2,500

HDFC AMC | CMP: Rs 2,523.4

On the daily and weekly charts, HDFC AMC is trending lower, forming lower tops and bottoms, indicating a negative bias. In addition, the stock is sustaining below its 20-, 50-, 100- and 200-day SMAs, which reconfirms a short- and medium-term downtrend. The daily, weekly and monthly strength RSI is in negative territory, signalling a loss of strength.

Short-term traders should consider exiting long positions and selling January futures.

Strategy: Sell

Target: Rs 2,460, Rs 2,360

Stop-Loss: Rs 2,600

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

Fortis Healthcare | CMP: Rs 903

Fortis Healthcare has experienced a strong resurgence over the past few weeks, followed by a breather that has retraced nearly 50 percent of the rally. Technically, the counter has formed a higher-highs pattern accompanied by a ‘Cup & Handle’ breakout, and sustainability above the 200 DEMA represents a potential trend-reversal scenario from a short- to medium-term perspective.

Additionally, the SuperTrend parameter indicates a bullish outlook after an extended period of correction, signalling a turnaround and adding to the bullish case. Hence, we recommend buying Fortis Healthcare around Rs 900–890.

Strategy: Buy

Target: Rs 960

Stop-Loss: Rs 870

Equitas Small Finance Bank | CMP: Rs 66.87

Equitas Small Finance Bank has shown significant buying momentum from the cluster of EMAs around the 60 sub-zone and has surpassed the sloping trendline, indicating the onset of a bullish trend.

From a technical perspective, the MACD histogram has demonstrated buying momentum, moving above the signal line and creating a positive crossover. Furthermore, the EMAs are approaching positive crossovers, suggesting that this upward momentum is likely to continue in the near future. Hence, we recommend buying Equitas Small Finance Bank around Rs 64.

Strategy: Buy

Target: Rs 74, Rs 80

Stop-Loss: Rs 57

Kalyan Jewellers India | CMP: Rs 506.9

Kalyan Jewellers has demonstrated substantial consolidation near its significant EMAs. Additionally, the counter has showcased a ‘Symmetrical Triangle’ breakout, backed by increased trading volumes, suggesting growth potential in the forthcoming period.

The technical indicators are also strongly aligned with price momentum, indicating a bullish outlook for the near term. Hence, we recommend buying Kalyan Jewellers around Rs 500–495, with a stop-loss at Rs 470, targeting Rs 545–560.

Strategy: Buy

Target: Rs 545, Rs 560

Stop-Loss: Rs 470

Anshul Jain, Head of Research at Lakshmishree Investments

Asian Paints | CMP: Rs 2,825.5

Asian Paints, after delivering a 52-week breakout and a sharp 14 percent follow-through move, is now undergoing a healthy retest of its rising 10-week moving average. The consolidation has taken the shape of a tight four-week box near the Rs 2,800 zone, indicating controlled price action rather than distribution.

Volumes have picked up over the past two weeks, highlighting relative strength even as the broader market weakens. This behaviour suggests strong hands are defending the trend. The broader structure remains intact, with moving averages aligning as a potential launchpad. A sustained move above the Rs 2,800–2,850 zone can reignite momentum and open an immediate upside toward Rs 3,200, while a decisive break below the 10-week average would be the key invalidation.

Strategy: Buy

Target: Rs 3,200

Stop-Loss: Rs 2,750.

Lupin | CMP: Rs 2,182.2

Lupin has delivered a decisive breakout after nearly 491 weeks and has since spent 58 weeks building a strong base-on-base structure, signalling long-term trend renewal. The consolidation phase has been marked by steady institutional accumulation, indicating conviction rather than speculative churn.

Weekly moving averages are now fanning out positively, reflecting rising momentum and improving trend strength across timeframes. The final overhead hurdle sits near Rs 2,200, and a clean breach above this level would unlock a larger pattern target toward Rs 3,000. In the near term, Rs 2,500 remains an intermediate resistance where some supply may emerge. Risk–reward remains favourable as long as the price holds above the upper base, keeping the primary bullish structure intact.

Strategy: Buy

Target: Rs 2,500, Rs 3,000

Stop-Loss: Rs 2,000

IDFC First Bank | CMP: Rs 86

IDFC First Bank has delivered a decisive breakout from a massive 756-week cup-and-handle formation, clearing the key pivot near Rs 83 and confirming strength above the long-standing Rs 84.5 resistance. The breakout was supported by above-average institutional volumes, signalling conviction rather than short covering.

Moving averages across timeframes have fanned out cleanly, reinforcing trend alignment, while the first retest post-breakout has been successfully absorbed, validating the structure. A sustained hold above Rs 84.5 keeps the bullish thesis intact and opens the door to fresh all-time highs beyond Rs 100.37. From a pattern perspective, a 10 percent extension toward the Rs 108–110 zone appears highly probable if momentum continues. Any dip toward the breakout zone is likely to find strong demand unless the stock slips back below Rs 83, which would act as the key invalidation level.

Strategy: Buy

Target: Rs 100

Stop-Loss: Rs 83