Trade Spotlight: How should you trade JSW Energy, SJVN, Alkem Labs, BSE, State Bank of India, and others on January 13?

Top Trading Ideas for January 13

• Experts pick top 10 trading ideas for January 13 including JSW Energy, SJVN, Alkem Labs, BSE, State Bank of India

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Equity benchmarks bounced back with 0.4 percent gains on January 12, but market breadth remained weak, with 1,866 shares declining against 1,044 advancing shares on the NSE. The market may extend its upward journey, but sustainability remains the key factor to watch. Below are some short-term trading ideas to consider:

Jigar S Patel, Senior Manager - Equity Research at Anand Rathi

SJVN | CMP: Rs 80.53

SJVN registered a decisive breakout on January 2 above the Rs 76.5 level, supported by a strong surge in volumes, confirming the strength of the move. Over the last 2–3 sessions, the stock witnessed a healthy pullback towards the breakout zone, accompanied by declining volumes, indicating a classic low-volume retest.

Currently, price action has reversed from this support area, suggesting renewed buying interest. On the hourly chart, the DMI has generated a bullish crossover, while the ADX is placed well above the threshold of 20, currently around 32.5, highlighting strong trend momentum. This combination of price, volume, and momentum signals strengthens the bullish outlook.

Hence, SJVN is expected to witness a fresh bullish move in the coming few sessions, with the breakout zone now acting as a strong support base. Traders may consider entering long positions in the Rs 81–79 zone, with a target of Rs 86.

Strategy: Buy

Target: Rs 86

Stop-Loss: Rs 76

JSW Energy | CMP: Rs 498.8

JSW Energy has recently confirmed a bullish breakout from an inverse Head and Shoulder pattern, supported by a strong surge in volumes, which validates the reliability of the formation. This breakout indicates a clear shift from a corrective phase to a potential trend reversal on the upside.

The stock is currently reversing after witnessing a mild pullback, but the decline is accompanied by relatively low volumes, suggesting that selling pressure is weak and the move is more of a healthy retest rather than a breakdown. Importantly, the weekly pivot support is closely aligned with the neckline of the pattern, strengthening the support zone. This confluence enhances the probability of a fresh upward move from current levels. Traders may consider entering long positions in the Rs 500–490 zone, with a target of Rs 550.

Strategy: Buy

Target: Rs 550

Stop-Loss: Rs 475

Rail Vikas Nigam | CMP: Rs 331.65

RVNL has witnessed a sharp correction after a strong up-move and is now approaching a crucial support zone in the Rs 330–320 range. This zone coincides with prior consolidation and visible demand on the chart, indicating that accumulation interest is likely to emerge at lower levels.

On the daily timeframe, the stock has slipped back into the Ichimoku cloud after facing rejection near the upper band. This suggests a transition from a strong bullish phase to a corrective or consolidation phase. However, as long as Rs 303 is protected on a closing basis, the broader price structure remains intact and supportive of a potential trend resumption.

Momentum indicators also reflect a healthy reset. The RSI has cooled off from overbought levels and is currently hovering near 45, indicating normalization rather than weakness. Overall, the setup favours a pullback-led rebound once stability is established near the support zone. Traders may consider entering long positions in the Rs 333–327 zone, with a target of Rs 364.

Strategy: Buy

Target: Rs 364

Stop-Loss: Rs 303

Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities

Alkem Laboratories | CMP: Rs 5,867

Alkem Labs has witnessed some long additions amid its recent uptrend, and the stock has also provided a breakout from the falling trendline. During the recent market correction, the stock did not correct and instead consolidated within a range of Rs 5,600–5,800, and now appears ready for an upside breakout.

The stock has the highest Call open interest at Rs 6,000 and faces no major resistance ahead. Hence, the short-term target is Rs 6,000, and beyond that Rs 6,100, while immediate support is seen at Rs 5,750 levels. Buy Alkem Labs Futures in the range of Rs 5,850–5,970.

Strategy: Buy

Target: Rs 6,000, Rs 6,100

Stop-Loss: Rs 5,750

Hindustan Zinc | CMP: Rs 628.25

Hindustan Zinc has corrected in the short term; however, this was mainly on account of profit booking. Hence, dips should be utilised as a buying opportunity. The stock appears to have consolidated within a short-term range of Rs 650–590 and now has significant support in the Rs 590–600 zone, while on the upside, Rs 660 is the minimum target.

Although there is huge Call open interest at higher levels, there was significant Call unwinding in the last trading session, indicating that as long as the stock is trading well above its maximum pain level of Rs 620, the short-term trend remains positive. Buy Hindustan Zinc Futures in the range of Rs 625–630.

Strategy: Buy

Target: Rs 650, Rs 660

Stop-Loss: Rs 615

Info Edge India | CMP: Rs 1,312.9

Info Edge had been consolidating within a range of Rs 1,400–1,300 for quite some time, and the breakdown below this range, along with an increase in open interest, indicates short build-up. Earlier, the stock had fallen due to long unwinding; however, it now appears that short positions are being added, which is a negative sign for the stock going ahead.

There have been significant Call additions in the Rs 1,320–1,400 strikes, which is a negative indicator. However, the Rs 1,260–1,280 strikes have seen good Put additions as well, so a break below those levels could lead to a major sell-off. Until then, the stock may consolidate for some time, but eventually it looks relatively weak.

The stock is now trading below its maximum pain as well as VWAP (Volume Weighted Average Price), both of which will act as crucial resistances in the near term. Sell Info Edge Futures in the range of Rs 1,320–1,300.

Strategy: Sell

Target: Rs 1,250, Rs 1,200

Stop-Loss: Rs 1,365

Vidnyan S Sawant, Head of Research at GEPL Capital

Ramco Cements | CMP: Rs 1,083.5

Ramco Cements is showing a positive multi-timeframe setup. On the monthly chart, the stock has posted three consecutive bullish mean reversions from the 12-month EMA and is holding above the previous month’s high, indicating strengthening momentum.

On the weekly scale, it is building a base near the 50% Fibonacci retracement and the 50-week EMA, supported by a pickup in volumes above the 20-week average. A bullish MACD crossover further reinforces the constructive outlook and signals potential continuation of the uptrend.

Strategy: Buy

Target: Rs 1,170

Stop-Loss: Rs 1,040

BSE | CMP: Rs 2,790.6

BSE continues to exhibit strong relative strength on the weekly chart, trading in a tight range around the 12-week EMA despite heightened market volatility. On the daily timeframe, volumes have expanded above the 20-day average while the stock sustains above the 26-DEMA, indicating active participation and trend support. The weekly RSI near 60 further confirms sustained bullish momentum.

Strategy: Buy

Target: Rs 3,096

Stop-Loss: Rs 2,678

State Bank of India | CMP: Rs 1,015.15

SBI has been exhibiting a strong and orderly uptrend since February 2025, marked by a gradual rise and a robust price structure. The stock remains well placed above its key 12- and 26-week EMAs, indicating healthy trend strength.

On the daily chart, SBI has shown a bullish mean reversion from the 12-DEMA, while the RSI continues to hold above 60 across timeframes, confirming sustained bullish momentum.

Strategy: Buy

Target: Rs 1,086

Stop-Loss: Rs 975

SBI Life Insurance Company | CMP: Rs 2,098

SBI Life Insurance continues to trade within a well-defined long-term rising channel since 2021, reflecting a strong structural uptrend. The stock remains comfortably placed above its 12- and 26-week EMAs, while the daily chart highlights notable resilience amid broader market volatility.

Momentum remains firmly supportive, with the RSI holding above 60 on both the weekly and daily timeframes, confirming a well-established uptrend backed by strength.

Strategy: Buy

Target: Rs 2,308

Stop-Loss: Rs 2,014