There was a major breakout above the Rs 230 zone in 2023. The stock rallied towards Rs 500 and has now retested the breakout zone, said an analyst. 
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There was a major breakout above the Rs 230 zone in 2023. The stock rallied towards Rs 500 and has now retested the breakout zone, said an analyst. Indian benchmark indices settled little changed on Friday amid the rising uncertainty on the back of US tariff threats. Traders are awaiting clarity on corporate earnings and revival of FIIs inflows. BSE Sensex shed merely 7.51 points, or 0.01 per cent, to end the session at 74,332.58. On other hand, NSE's Nifty50 added just 7.80 points, or 0.03 per cent, to settle at 22,552.50 for the day.
The Nifty remained volatile within a narrow range, closing with a small-bodied candle on the daily chart, said Rupak De, Senior Technical Analyst at LKP Securities. "The sentiment remains positive, with the potential to reach higher levels in the short term. On the higher end, immediate resistance is seen at 22,700–22,750. On the lower end, support is placed at 22,400, below which the index may lose momentum," he said.
Some buzzing stocks including Coal India Ltd, Gujarat Mineral Development Corporation Ltd (GMDC) and JSW Energy Ltd are likely to remain under the spotlight of traders for the session today. Here is what a host of brokerage firms said about these stocks ahead of Monday's trading session:
JSW Energy | Buy | Target Price: Rs 580 | Stop Loss: Rs 415
JSW Energy has corrected 49 per cent from its peak of Rs 804.90 and is now rebounding from the 200-weekly EMA, forming an inverse head and shoulders pattern. This bullish setup was confirmed as the stock recently broke above its neckline, signaling potential upside. A long position is advised in the Rs 490-500 zone with a target of Rs 580, while the stop-loss should be placed below Rs 415 on a daily closing basis. Additionally, if JSW Energy tests Rs 445, it presents an opportunity to add more to the position. The technical structure suggests a strong recovery, making it attractive at current levels.
Recommended by: Jigar S Patel, Anand Rathi Shares & Stock Brokers
Coal India | Buy | Target Price: Rs 435 | Stop Loss: Rs 350
Coal India is currently taking strong support at the Rs 350 level on the monthly chart, reinforcing its importance as a key demand zone. The stock is respecting a rising trendline, a sustained uptrend, on the weekly charts. The price action suggests a bullish reversal from the bottom as it consolidates while forming higher lows. This accumulation phase is supported by significant volume on the daily chart, signaling potential strength in the ongoing trend. If the stock manages to close above the Rs 380 level, it could unlock further upside potential of approximately 15 per cent, with a target price of Rs 435. Any dip towards Rs 360 can be considered a buying opportunity for further gains, as the stock remains well-supported. The immediate support is positioned at 350, aligning with the long-term monthly support.
Recommended by: Sumeet Bagadia, Choice Broking
Gujarat Mineral Development Corporation | Buy | Target Price: Rs 315 | Stop Loss: Rs 210
There was a major breakout above the Rs 230 zone in 2023. The stock rallied towards Rs 500 and has now retested the breakout zone. Currently trading near the 200-week EMA, with a reversal candlestick pattern forming. Traders are advised to accumulate GMDC in the Rs 240–Rs 250 range, with a stop-loss at Rs 210, for an upside target of Rs 315 in the next 6 months.
Recommended by: Jigar S Patel, Anand Rathi Shares & Stock Brokers
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