The market rebounded and recouped all its previous day's losses, closing the rangebound session on a positive note on November 27, with breadth consistently favouring bulls. About 1,729 shares gained, compared to 743 declining shares on the NSE. The rangebound trade is expected to continue in the upcoming session, though the overall trend remains positive. Below are some trading ideas for the near term:
Jatin Gedia, Technical Research Analyst, Mirae Asset Sharekhan
Exide Industries | CMP: Rs 445
Exide Industries has broken out of a falling channel on the upside and has been accompanied by above-average volume. It has closed above the short-term moving average, indicating strength. We expect the upmove to continue towards Rs 483–485, which is the 20-week average. A stop-loss of Rs 433 should be maintained for long positions.
Strategy: Buy
Target: Rs 483, Rs 485
Stop-Loss: Rs 433
PVR INOX | CMP: Rs 1,514
PVR INOX has broken out of a falling wedge pattern on the daily charts. The breakout has been accompanied by above-average volume. The daily momentum indicator has a positive crossover, which is a buy signal. The target on the upside is placed at Rs 1,552–1,589. A stop-loss of Rs 1,460 should be maintained for long positions.
Strategy: Buy
Target: Rs 1,552, Rs 1,589
Stop-Loss: Rs 1,460
Vidnyan Sawant, Head of Research at GEPL Capital
Firstsource Solutions | CMP: Rs 362
Firstsource Solutions has exhibited strong relative strength amid market volatility. On the weekly chart, the stock maintains its upward trajectory, trading consistently above the key 12-week and 26-week EMAs (exponential moving averages). The ratio line on the weekly scale remains stable above a multi-year high, signaling continued outperformance.
Strategy: Buy
Target: Rs 424
Stop-Loss: Rs 330
CCL Products | CMP: Rs 793.3
CCL Products has shown a strong chart pattern on the weekly scale, with consistent higher tops and higher bottoms. On the daily scale, the stock is forming a base pattern, reinforcing the bullish sentiment. Additionally, the MACD (moving average convergence divergence) momentum indicator has recently witnessed a bullish crossover, signaling potential upside.
Strategy: Buy
Target: Rs 917
Stop-Loss: Rs 740
Trent | CMP: Rs 6,845
Trent has been in a strong bullish phase since 2023, consistently forming higher tops and higher bottoms. In the recent week, the stock witnessed a bullish mean reversion from its 26-week EMA, signaling a healthy trend and setting the stage for another leg of upward movement. On the daily chart, the stock has shown a significant bottoming formation at the 61.8 percent Fibonacci retracement level (Rs 4,955–8,345), further reinforcing the bullish outlook based on price action.
Strategy: Buy
Target: Rs 8,220
Stop-Loss: Rs 6,300
Angel One | CMP: Rs 2,911
Angel One is forming higher bottoms on the weekly chart and is trading comfortably above its key 12-week and 26-week EMAs, indicating strong relative strength amid market volatility. The stock recently formed a bullish candlestick, with the open equal to the low, signaling buying interest. Additionally, both the RSI (relative strength index) and MACD momentum indicators are in buy mode, suggesting that positive price action is supported by strong bullish momentum.
Strategy: Buy
Target: Rs 3,437
Stop-Loss: Rs 2,679
Shitij Gandhi, Senior Research Analyst (Technicals) at SMC Global Securities
Bharat Electronics | CMP: Rs 307.4
Bharat Electronics has been consolidating in a broader range of Rs 260–300, with prices witnessing sideways moves around its 200-day EMA on the daily time frame. Technically, the stock has formed a triple bottom pattern around the Rs 260 level and has given a fresh breakout after a period of prolonged consolidation. Therefore, one can accumulate the stock in the range of Rs 300–305 for the expected upside to Rs 340–345 levels.
Strategy: Buy
Target: Rs 340, Rs 345
Stop-Loss: Rs 275
BEML | CMP: Rs 4,188.8
BEML has been consolidating in the broader range of Rs 3,500–4,000 for the past three months, with prices hovering around its 200-day EMA on daily charts. Currently, the stock has picked up fresh bullish momentum beyond its defined range after a period of prolonged consolidation. The positive divergences on secondary oscillators, along with positive price action, point towards the next upside in the stock. Therefore, one can accumulate the stock in the range of Rs 4,150–4,200 for the expected upside to Rs 4,900–4,950.
Strategy: Buy
Target: Rs 4,900, Rs 4,950
Stop-Loss: Rs 3,600
Thirumalai Chemicals | CMP: Rs 347.4
Thirumalai Chemicals has been consolidating in the broader range of Rs 290–330, with prices managing to take support at its 200-day EMA on daily charts. Technically, the stock has formed an Inverted Head and Shoulders pattern on the daily charts, with a breakout observed above the neckline of the pattern formation. Therefore, one can accumulate the stock in the range of Rs 340–345 for the expected upside to Rs 380–390 levels.
Strategy: Buy
Target: Rs 380, Rs 390
Stop-Loss: Rs 315
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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