Indian benchmark indices settled with mild cuts on Tuesday as headline indices took a breather after the two-day rally. Buying from FIIs, after a prolonged selling, supported the sentiment at Dalal Street. BSE Sensex shed 105.79 or 0.13 per cent to end the session at 80,004.06. NSE's Nifty50 declined 27.40 points or 0.11 per cent, to settle at 24,194.50 for the day.
Some buzzing stocks including Piramal Enterprises Ltd (PEL), Shriram Finance Ltd and Ashok Leyland Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP, Research & Advisory at Master Capital Services has to say on these stocks ahead of Wednesday's trading session:
Shriram Finance | Buy | Target Price: Rs 3,310-3,334 | Stop Loss: Rs 2,870
Shriram Finance has witnessed a strong recovery from its recent lows, reclaiming the 200-day EMA, signaling renewed bullish momentum. The RSI has bounced back from oversold territory, crossing the 50-mark, suggesting increasing strength in the uptrend. The stock's decisive move above the 21-day EMA adds further confirmation of bullish intent. Volume activity has picked up, reflecting growing investor interest. Sustained buying interest could propel the stock toward Rs 3,310 and then Rs 3,334, while support is well placed around Rs 2,870.
Ashok Leyland | Buy | Target Price: Rs 248-255 | Stop Loss: Rs 217
Ashok Leyland has shown strong bullish momentum, bouncing back sharply from its recent lows and reclaiming its 21-day EMA. The stock has also held above the 200-day EMA, confirming long-term strength. The RSI is trending above the 60-level, indicating robust buying interest and the potential for further upside. Increased volume on recent upticks reflects positive market sentiment. Immediate resistance is seen near Rs 248, and a breakout above this level could propel the stock further higher toward Rs 255.
Piramal Enterprises | Buy | Target Price: Rs 1,315-1,332 | Stop Loss: Rs 1,108
Piramal Enterprises has displayed a strong bullish breakout above a significant resistance level near Rs 1,150, supported by robust volumes. The stock is trading well above its 21-day and 200-day EMAs, signaling long-term strength. The RSI on the daily timeframe is trending near 67, reflecting increasing bullish momentum. A sustained move above the breakout level could lead to further upside, with the next target zone around Rs 1,315-1,332. On the downside, the Rs 1,100-1,108 range now acts as a strong support, making the stock attractive for long-term investors.