Indian benchmark indices managed to post strong gains, thanks to the global recovery, bucking the tariff war fears. Largecap stocks and index heavyweights turned out to be the preferred picks of the street during the session. BSE Sensex zoomed 1,394.07 points, or 1.81 per cent, to end the session at 78,583.81. NSE's Nifty50 soared 378.20 points, or 1.62 per cent, to settle at 23,739.25 for the day.
Some buzzing stocks including Jio Financial Services Ltd, Central Depository Services (India) Ltd (CDSL) and Genus Power Infrastructure Ltd are likely to remain under the spotlight of traders for the session today. Here is what various analysts from multiple brokerages have to say on these stocks ahead of Wednesday's trading session:
Jio Financial Services | Buy | Target Price: Rs 305 | Stop Loss: Rs 199
Jio Financial Services has witnessed a significant 41 per cent correction from its peak of Rs 394. However, the stock is showing signs of bottoming near a strong previous support level. Additionally, a bullish RSI divergence is visible on the chart, indicating a potential reversal. Considering these technical factors, we recommend going long in the Rs 230-240 zone. The upside target is set at Rs 305, while the stop-loss should be placed at Rs 199 on a daily closing basis. This setup provides a favorable risk-reward ratio, aligning with the possibility of a trend reversal. Traders should monitor price action and volume confirmation for additional conviction before entering the trade.
Recommended by: Anand Rathi Shares & Stock Brokers
Genus Power Infrastructure | Buy | Target Price: Rs 330 | Stop Loss: Rs 285
Genus Power is one of the largest players in the electricity metering solutions industry in India. As a pioneer in electricity metering solutions with over 8 crore meters installed globally, Genus has been at the forefront of electricity metering since its inception in 1992 with 27 per cent market share. The company’s order book stood at Rs 31,776 crore as of September 2024 with concessions for over 8-10 years. The current order book is not the peak and a further increase from this level is expected from Q1FY26 onwards. We recommend a 'buy' on Genus Power with a target price of Rs 330 and a stop loss of Rs 285.
Recommended by: Axis Securities
Central Depository Services (India) | Buy | Target Price: Rs 1,440-1,510 | Stop Loss: Rs 1,200
CDSL is trading above crucial EMAs, including the 20-day and 50-day, reinforcing a bullish outlook and indicating the possibility of sustained price appreciation. The RSI is currently at 41, reflecting a downward trend but also signalling that the stock is approaching oversold territory, potentially setting the stage for a rebound. A prudent strategy would be to consider buying opportunities on dips around Rs 1,264, with a well-defined risk management approach. CDSL has shown signs of reversal from its demand zone near Rs 1,200, supported by significant trading volume. This suggests the potential for further upward momentum, with key resistance levels and targets at Rs 1,440 and Rs 1,510. On the downside, strong support is evident around Rs 1,200.
Recommended by: Choice Broking