Trade Spotlight: How should you trade Tata Communications, Prestige Estates, BHEL, Nykaa, HDFC Life, Paradeep Phosphates, and others on April 16?

Top Buy Ideas

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

The market extended its robust run for another session, with the Nifty 50 climbing 2.2 percent on April 15, following a positive global sentiment. Market breadth remained strong, with a total of 2,315 shares seeing buying interest compared to just 281 shares under pressure on the NSE. Bulls are expected to maintain tight control over Dalal Street, despite the possibility of intermittent consolidation. Below are some trading ideas for the near term:

Amol Athawale, VP-technical research at Kotak Securities

Prestige Estates Projects | CMP: Rs 1,198.5

After a decline from higher levels, Prestige Estates Projects has rebounded from its support zone on both the daily and weekly charts. Moreover, a sloping trendline breakout has occurred along with decent volume activity. The counter is witnessing a steady recovery from lower levels. This up move suggests a new leg of the bullish trend in the near term.

Strategy: Buy

Target: Rs 1,280

Stop-Loss: Rs 1,155

Tata Communications | CMP: Rs 1,591

Following a sharp uptrend, Tata Communications experienced some selling pressure. However, the downward momentum has paused and the stock has found support. On the daily chart, a Cup and Handle formation has emerged, and a fresh breakout from the resistance zone is very likely in the coming trading sessions.

Strategy: Buy

Target: Rs 1,700

Stop-Loss: Rs 1,530

Bank of Baroda | CMP: Rs 235

After a remarkable up move, Bank of Baroda has been consolidating over the last few sessions. This range-bound structure suggests a bullish continuation chart pattern. Furthermore, the stock comfortably closed above its short-term moving average. Therefore, it is likely to resume its uptrend from the current levels in the near future.

Strategy: Buy

Target: Rs 250

Stop-Loss: Rs 225

Subash Gangadharan, Senior Technical Derivative Analyst at HDFC Securities

Jagran Prakashan | CMP: Rs 72.9

Jagran Prakashan is in a healthy short-term uptrend. After a recent correction, the stock bounced from around Rs 66 levels, where it also formed a double bottom. This week, it managed to cross its previous swing high of Rs 72 on the back of above-average volumes and also closed above key moving averages. Momentum indicators like the 14-day RSI are also rising, which supports the continuation of the uptrend.

Strategy: Buy

Target: Rs 78

Stop-Loss: Rs Rs 70

BHEL | CMP: Rs 221.8

Bharat Heavy Electricals (BHEL) is in a healthy uptrend and has recently bounced from the 50-day SMA. On Tuesday, the stock also closed above its recent swing highs on the back of healthy volumes. Momentum readings such as the 14-day RSI are rising, which bodes well for the continuation of the uptrend.

Strategy: Buy

Target: Rs 240

Stop-Loss: Rs Rs 210

FSN E-Commerce Ventures | CMP: Rs 185.86

Nykaa is in a short-term uptrend, forming higher tops and higher bottoms over the past few weeks. Last week, the stock bounced from the 20-day SMA and on Tuesday crossed its previous swing high with above-average volumes. The 14-day RSI is also rising and is above its 9-day EMA, indicating strengthening momentum.

Strategy: Buy

Target: Rs 196

Stop-Loss: Rs 177

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

HDFC Life Insurance Company | CMP: Rs 704.7

Since the beginning of March 2025, HDFC Life has been steadily rising, forming higher highs and higher lows. Each decline in this upward trend toward the Ichimoku cloud's base line (red) has provided a buying opportunity, with prices consistently reversing from that level—most recently as well. Support, based on this indicator, is around Rs 660. As long as prices stay above this level, the medium-term trend is likely to remain positive. A break above Rs 710 can lift prices higher toward Rs 738, followed by Rs 767, as long as Rs 682 remains protected on the downside.

Strategy: Buy

Target: Rs 738, Rs 767

Stop-Loss: Rs 682

PB Fintech | CMP: Rs 1,619.6

For the past two trading sessions, PB Fintech has managed to protect its prior day's low on a closing basis, which indicates increasing bullishness. On the daily chart, the 5-day EMA has crossed above the 13-day EMA— a bullish crossover that suggests the short-term bias has turned positive. Additionally, the recent rise has retraced more than 23.6% of the prior fall that began in January 2025.

A retracement to 38.2% is expected, which corresponds to Rs 1,667 and is close to the previous swing high of Rs 1,700. In summary, the trend appears to have shifted in favour of the bulls. A break above Rs 1,630 is essential for the uptrend to extend toward Rs 1,700, followed by Rs 1,755. On the downside, Rs 1,565 is the nearest support level to watch.

Strategy: Buy

Target: Rs 1,700, Rs 1,755

Stop-Loss: Rs 1,565

Paradeep Phosphates | CMP: Rs 133

Paradeep Phosphates had been forming a rounding bottom since January 2025 on the daily timeframe. In the previous session, the stock finally gave a breakout by closing above the neckline at Rs 130.50, confirming the pattern's breakout. The ADX (Average Directional Index), which indicates trend strength, is now reading 37, suggesting strong momentum is likely to continue.

Given the sharp rise in the previous session, a "buy on dips" strategy appears prudent to ride the trend effectively. In summary, the trend for Paradeep Phosphates remains bullish. Use dips toward Rs 130–132 as a buying opportunity for a move toward Rs 143, as long as Rs 128 holds on the downside.

Strategy: Buy

Target: Rs 143

Stop-Loss: Rs 128

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.