Trade Spotlight: How should you trade SBI, GAIL, NLC India, NTPC, Sunteck, and others on Tuesday?

Top 10 Buy Ideas

Despite consolidation, the market traded higher throughout the session and ended at a new closing high on July 15, with the Nifty 50 reaching closer to the 24,600 level, gaining 0.35 percent. About 1,239 shares advanced, while 1,142 shares declined on the NSE. The Nifty 50 is poised to climb towards 24,800-24,900 in the coming sessions, provided it holds 24,500, with crucial support at 24,300. Here are some trading ideas for the near term:

Sudeep Shah, Deputy Vice-President and Head of the Technical and Derivative Research at SBI Securities

LIC Housing Finance | CMP: Rs 801

LIC Housing Finance has found support near the 20-day EMA (Exponential Moving Average) and showed a strong rebound in Monday's trading session, supported by higher volume. We recommend buying at the current market price with a stop-loss at Rs 780. On the upside, it may target Rs 850, followed by Rs 870 in the short-term.

Strategy: Buy

Target: Rs 850, Rs 870

Stop-Loss: Rs 780

GAIL India | CMP: Rs 237.2

GAIL India has broken out of consolidation on a daily scale with robust volume. Buying in the zone of Rs 238-236, with a stop-loss at Rs 230, is recommended. Targets on the upside are Rs 252 and Rs 260 in the short-term.

Strategy: Buy

Target: Rs 252, Rs 260

Stop-Loss: Rs 230

NTPC | CMP: Rs 385.55

NTPC is trading above its short and long-term moving averages, indicating a strong trend. Momentum indicators and oscillators support bullish momentum. Buying at the current market price with a stop-loss at Rs 373 is suggested, targeting Rs 415 and Rs 425 in the short-term.

Strategy: Buy

Target: Rs 415, Rs 425

Stop-Loss: Rs 373

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

State Bank of India | CMP: Rs 883

SBI has broken out from sideways consolidation with increased volumes. MACD shows a bullish crossover on daily charts and supports a positive outlook. Buying here could benefit from further strength if the PCR moves beyond 1.

Strategy: Buy

Target: Rs 910

Stop-Loss: Rs 862

Mphasis | CMP: Rs 2,740

Mphasis has broken multiple swing resistances and completed a retest, forming a Bullish Island reversal pattern. Strong volumes and short covering indicate a reversal from downtrend to uptrend. MACD is bullish across daily, weekly, and monthly charts. The stock has no major resistance above Rs 2,700, with a positive outlook in the short to medium term.

Strategy: Buy

Target: Rs 2,870, Rs 3,100

Stop-Loss: Rs 2,640

Alkem Laboratories | CMP: Rs 5,400

Alkem has broken a falling trendline, indicating a positive trend reversal. MACD is bullish across daily, weekly, and monthly charts. The stock is likely to move towards the upper end of its range (Rs 5,600 to Rs 4,600), supported by positive momentum.

Strategy: Buy

Target: Rs 5,600, Rs 5,800

Stop-Loss: Rs 5,220

Pravesh Gour, Senior Technical Analyst at Swastika Investmart

HBL Power Systems | CMP: Rs 629

HBL Power Systems has broken out of an Inverse Head and Shoulder pattern, a bullish reversal signal, with strong volume confirming the pattern's validity. This suggests potential upward movement in price.

Strategy: Buy

Target: Rs 714

Stop-Loss: Rs 575

NLC India | CMP: Rs 294.5

NLC India shows bullish setups, including a Double Bottom formation breakout and a multi-year resistance zone breakout. Momentum indicators support further upside towards Rs 320 and potentially Rs 340.

Strategy: Buy

Target: Rs 340

Stop-Loss: Rs 270

Sunteck Realty | CMP: Rs 608.8

Sunteck Realty has broken out of a long consolidation formation with strong volume and closed above Rs 500 levels. Trading above all-important moving averages, it indicates potential for a rally towards Rs 700+. Support is seen at Rs 560.

Strategy: Buy

Target: Rs 680

Sop-Loss: Rs 560

Latent View Analytics | CMP: Rs 559

Latent View Analytics exhibits bullish momentum with higher highs and higher lows, and has broken from a consolidation with significant volume. Trading above all significant moving averages, it shows potential for further upside towards Rs 600+, with support at Rs 530.

Strategy: Buy

Target: Rs 616

Stop-Loss: Rs 530

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.