Trade Spotlight: How should you trade ACME Solar Holdings, Thermax, Sun TV Network, NTPC Green Energy, GE Shipping, and others on March 20?

Top Buy Ideas for March 20

• Experts pick top eight stocks for March 20 including ACME Solar Holdings, Thermax, Sun TV Network, NTPC Green Energy, GE Shipping

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The benchmark indices snapped three-day gains, falling 3.26 percent on March 19 following global weakness. Market breadth weakened, with about 2,584 shares declining compared to 379 advancing shares on the NSE. The market is expected to see consolidation with range-bound trading after the severe correction. Below are some short-term trading ideas to consider:

Jay Mehta, Technical Research at JM Financial Services

ACME Solar Holdings | CMP: Rs 262.05

ACME Solar Holdings has broken out above a prolonged consolidation range. The breakout was accompanied by strong volume participation, confirming buyer conviction. The price now trades comfortably above all key EMAs, with the averages sloping upward, reinforcing the resumption of the bullish trend.

Momentum indicators (RSI and MACD) are in bullish territory and sloping upward, supporting the continuation of the uptrend. Expanding volume on up days and positive DMI alignment further strengthen the case. The structure remains favourable for buyers as long as the breakout zone holds.

Strategy: Buy

Target: Rs 280, Rs 295

Stop-Loss: Rs 238

Thermax | CMP: Rs 3,237.4

Thermax has broken out above a prolonged wedge consolidation. The breakout was supported by strong volume participation, confirming buyer conviction. The price now trades comfortably above all key EMAs, with the averages sloping upward.

Momentum indicators (RSI and MACD) are in bullish territory and sloping upward, supporting the continuation of the uptrend. Expanding volume on up days and positive DMI alignment further strengthen the bullish case. The structure remains favourable, with a better risk-to-reward ratio.

Strategy: Buy

Target: Rs 3,500, Rs 3,600

Stop-Loss: Rs 3,020

NHPC | CMP: Rs 76.24

NHPC has broken out above a wedge pattern. The breakout was supported by positive volume participation. The price recently bounced strongly from a prior demand zone (around Rs 70–72), showing renewed buyer interest at key support.

It is now attempting to reclaim the 200-day EMA (Rs 80.17), which will act as a major pivot. A decisive move above the 200-day EMA is likely to accelerate bullish momentum. Momentum indicators are turning positive, and trend indicators support continuation on the upside while the wedge breakout zone holds.

Strategy: Buy

Target: Rs 82, Rs 86

Stop-Loss: Rs 74.4

Om Mehra, Technical Research Analyst, SAMCO Securities

Sun TV Network | CMP: Rs 599.35

Sun TV Network has shown a recovery after a sharp decline, where the lower Bollinger Band provided support. The stock has formed a strong rebound candle from lower levels and is now attempting to move back toward the Rs 600–610 zone.

The stock is currently trading near the middle Bollinger Band, placed around Rs 590, indicating a neutral-to-positive shift in the near-term trend. Volumes have remained moderate, suggesting the move is steady rather than aggressive.

The RSI is placed near 54 and moving higher, reflecting a gradual improvement in momentum. The DMI setup indicates that the positive line is attempting to regain strength. Hence, one can consider long positions at Rs 599.35, with an expected move toward Rs 640 and a stop-loss placed at Rs 582.

Strategy: Buy

Target: Rs 640

Stop-Loss: Rs 582

NTPC Green Energy | CMP: Rs 98.88

NTPC Green Energy has shown a sharp rebound after a prolonged downtrend, with a strong recovery visible from the Rs 90–92 zone. The stock has formed a series of higher lows over the past few sessions, indicating gradual accumulation at lower levels.

The recent upmove has been accompanied by a noticeable pickup in volumes, suggesting active participation in the recovery. The stock has moved above the 20-day moving average, placed near Rs 93, and is now attempting to sustain near the Rs 100 mark, which may act as a near-term hurdle.

The Supertrend has also turned supportive, offering a cushion on declines. The RSI is placed near 68 and trending higher, reflecting strengthening momentum. Hence, one can consider long positions at Rs 98.88, with an expected move toward Rs 110 and a stop-loss placed at Rs 92.

Strategy: Buy

Target: Rs 110

Stop-Loss: Rs 92

Hitesh Tailor, Technical Research Analyst at Choice Broking

ONGC | CMP: Rs 269.1

Oil and Natural Gas Corporation is maintaining a positive bias after a recent golden crossover. The stock is taking support near the 50-day EMA and continues to trade above its key 50-, 100-, and 200-day EMAs, highlighting a strong and sustained bullish trend.

On the weekly chart, ONGC has confirmed a breakout from a prolonged sideways range and is now successfully retesting the breakout zone, indicating healthy accumulation and a strengthening price structure. This setup suggests potential for further upside.

Strategy: Buy

Target: Rs 290

Stop-Loss: Rs 257

GE Shipping Company | CMP: Rs 1,441.3

Great Eastern Shipping Company is showing strength, trading in a clear higher high–higher low formation, indicating a sustained uptrend. The stock has recently taken support near its previous breakout zone, aligned with the 20-day EMA, reflecting strong accumulation at lower levels.

It remains above the key 50-, 100-, and 200-day EMAs, confirming a strong bullish structure. Based on this setup, short-term traders may consider buying at CMP, with a stop-loss at Rs 1,375 and a target of Rs 1,570.

Strategy: Buy

Target: Rs 1,570

Stop-Loss: Rs 1,375

Tata Power Company | CMP: Rs 398.5

Tata Power Company is showing strength after a recent trendline resistance breakout and sustaining above it, indicating a continuation of bullish momentum. The stock is trading above its key 50-, 100-, and 200-day EMAs, further reinforcing a strong uptrend.

Momentum indicators remain supportive, with the RSI at 61.28, taking support near 50 and trending higher, reflecting improving price strength. Based on this technical structure, buying can be considered at CMP, with a stop-loss at Rs 384 and a target of Rs 430.

Strategy: Buy

Target: Rs 430

Stop-Loss: Rs 384