Torrent Power, NTPC, Poonawalla Fincorp: How to trade these 3 buzzing stocks

Indian stock markets kicked off the financial year 2025-26 with big cuts as the fears of US reciprocal tariff announcements dented the sentiments at Dalal Street, triggering a sharp selloff. BSE Sensex crashed 1,390.41 points, or 1.80 per cent to settle at 76,024.51 for the day, while NSE Nifty50 index plunged 353.65 points, or 1.50 per cent to end the session at 23,165.70.

 

Nifty50 has formed a bear candle with a lower high and lower low signaling extension of the profit booking. Volatility to remain high and index on expected lines post breakdown below last week's low 23,400 extended decline and closed below 23,200 levels, said Bajaj Broking. "We believe the current breather should be used as a buying opportunity in quality stocks in a staggered manner for up move towards 24,200 levels in the coming weeks. With key supports placed at 23,000-22,800 levels," it said.

 

Some buzzing stocks including NTPC, Poonawalla Fincorp and Torrent Power 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 about these stocks ahead of Wednesday's trading session:

 

NTPC | Buy | Target Price: Rs 384-395 | Stop Loss: Rs 328

Prices of NTPC increased more than 20 per cent from their recent bottom, showing strong bullish momentum with reclaiming key moving averages, including the 34, 55, 100, and 200-day EMAs, indicating trend reversal confirmation. The stock has broken above recent consolidation and is currently stabilizing near the breakout zone, suggesting strong demand at lower levels. The RSI is hovering near 60, reflecting continued buying interest, while the MACD remains in a bullish crossover, signaling further upside potential. Immediate resistance is seen near Rs 384, and a decisive move above this could push the stock towards Rs 395 levels. On the downside, Rs 328 remains a strong support zone. Any dips may offer a buying opportunity in the current uptrend.

 

Torrent Power | Buy | Target Price: Rs 1,658 | Stop Loss: Rs 1,405

Prices of Torrent Power are likely to continue their northward journey, supported by a well-defined rounding bottom formation, which indicates a gradual accumulation phase transitioning into a breakout. The stock has successfully surpassed its previous swing high, confirming the strength of the uptrend. This breakout is further validated by its sustained price action above a cluster of key moving averages, including the 21, 55, 100, and 200-day EMAs, reinforcing positive sentiment. From a price structure perspective, the rounding bottom breakout hints at a potential trend continuation towards higher levels. Immediate resistance could be anticipated near Rs 1,658, while strong support is now placed around the Rs 1,405 zone.

 

Poonawalla Fincorp | Buy | Target Price: Rs 379-390 | Stop Loss: Rs 323

Poonawalla Fincorp has decisively broken out of its long-term descending trendline, confirming a trend reversal. The stock has reclaimed key moving averages (34, 55, and 100-day EMAs), indicating strong bullish momentum. The breakout zone around Rs 323 is now acting as immediate support, suggesting strength in the uptrend. The RSI is above 70, signaling strong buying interest, while the MACD remains in a bullish crossover, reinforcing positive sentiment. Prices are currently sustaining above all key moving averages which opens the doors for further upside towards Rs 379-390 levels.