Amid the wild swings of volatility in the Indian stock markets, Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services has shared three stocks- Punjab National Bank (PNB), TVS Motor Company Ltd and Jubilant Foodworks Ltd- from a trading point of view. The analyst has suggested to 'buy' all the three counters. Here's what the analyst has to say about these counters:
Punjab National Bank | Buy | Target Price: Rs 115-118 | Stop Loss: Rs 96
After a nearly 35 per cent decline from its mid-term peak in April, prices have found substantial support near the 100-week EMA—a level that has historically served as crucial support. Technically, conditions are now aligning for a bullish reversal, a scenario further validated by the rise in trading volumes on recent gains. Additionally, the weekly RSI has pivoted upward from oversold territory and has crossed above its descending trendline resistance, signaling strong momentum and reinforcing the likelihood of a bullish trend ahead.
Jubilant Foodworks | Buy | Target Price: Rs 636-660 | Stop Loss: Rs 556
Jubilant Foodworks' prices have established a double bottom pattern on the daily chart, with the neckline support aligning closely with the 200-day EMA. This area has proven resilient, with prices rebounding sharply from lower levels and closing above the 200-day EMA, supported by increased trading volumes—a positive indicator of potential gains toward the 636 level. A firm base around the 200-day EMA makes a sustained drop below this level improbable. Additionally, the daily RSI shows bullish divergence, and the MACD indicator is poised to shift into positive territory, signaling further upside momentum.
TVS Motor Company | Buy | Target Price: Rs 2,670 | Stop Loss: Rs 2,320
Prices of TVS Motor have posted a healthy correctional fall of around 20 per cent from its all-time high, finding firm support near the 200-day EMA—a critical level that has historically provided robust support. This recent pullback has brought prices down to a significant horizontal support zone, which previously acted as a key resistance level during earlier rallies, further enhancing the likelihood of a positive reversal. Despite the correction, the stock remains in a well-defined bullish phase, evident in its formation of higher highs and higher lows. This pattern signifies strong underlying momentum and a continuation of the long-term uptrend.