Indian benchmark indices settled higher on Thursday after the US Federal Reserve announced a 25 bps rate cut, in line to the expectations.
However, lofty valuations added to profit booking at the higher levels. BSE Sensex jumped 320.25 points, or 0.39 per cent, to settle at 83,013.96, while NSE’s Nifty50 surged 93.35 points, or 0.37 per cent, to close at 25,423.60 for the day.
Select buzzing stocks including Mankind Pharma, Kfin Technologies and HFCL are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say about these stocks ahead of Friday’s trading session:
HFCL | Buy | Target Price: Rs 83-86 | Stop Loss: Rs 73
HFCL has given a breakout from a double bottom formation on daily charts, signalling a bullish reversal. Price action indicates higher lows forming, while the stock has crossed above short term EMAs, confirming improving trend strength. RSI is trending upwards with bullish divergence, reflecting strong momentum, while MACD has generated a positive crossover, supporting the up move. A record surge in volume validates the breakout. Additionally, ADX trending higher indicates strengthening trend intensity, reinforcing the bullish outlook.
Mankind Pharma | Buy | Target Price: Rs 2,770-2,850 | Stop Loss: Rs 2,530
Mankind Pharma has given a breakout from a symmetrical triangle pattern on the daily chart, signalling continuation of the broader uptrend. The stock is trading above key moving averages, reflecting underlying strength. RSI is trending higher above 60, showing improving momentum, while MACD has generated a positive crossover, supporting bullish sentiment. Volume expansion on the breakout further validates buying interest. The price structure of higher lows adds conviction, indicating sustained accumulation and reinforcing the bullish outlook for the stock.
Kfin Technologies | Buy | Target Price: Rs 1,230-1,280 | Stop Loss: Rs 1,090
Prices of Kfin Tech have witnessed a breakout from an inverse head and shoulders pattern on the daily chart, signalling a bullish reversal. The stock has reclaimed all its key moving averages, highlighting renewed strength in trend. RSI is trending higher, indicating improving momentum, while MACD has generated a positive crossover, supporting the up move. A noticeable rise in volumes validates the breakout. The combination of pattern breakout, moving average recovery, and strengthening indicators reinforces a strong bullish outlook for the stock.