Market Trading Guide: Bajaj Auto among 4 stock recommendations for Wednesday

The Indian stock market remained muted on Tuesday, with Sensex and Nifty erasing early gains to close in the red after a sharp rally in the earlier session. Sensex lost 70 points to close at 76,766, while Nifty 50 fell nearly 11 points to end the session at 23,985. Broader markets remained mixed, with Nifty Smallcap 100 closing in the red and Nifty Midcap 100 index ending in the green.
Here are 4 stock recommendations for Wednesday:

Bajaj Auto continues to exhibit one of the strongest technical structures within the auto sector. The stock has recently broken out to a fresh all-time high after a period of healthy consolidation, reaffirming the continuation of its primary uptrend. It is trading comfortably above the 20, 50 and 200 EMAs, with all three moving averages aligned in a bullish sequence, highlighting robust trend strength.
The breakout has been supported by improving volumes, indicating institutional participation rather than short-covering. RSI has risen to around 73, reflecting strong momentum. While this suggests the possibility of near-term consolidation, it does not invalidate the broader bullish trend as momentum stocks often remain overbought during sustained rallies.
Any corrective move towards the Rs 11,000–11,150 zone should be viewed as a buying opportunity rather than a sign of weakness. A protective stop loss can be maintained below Rs 10,800. On the upside, the stock is well-positioned to extend its rally towards Rs 12,000, with a medium-term objective of Rs 12,400, supported by its strong price structure and persistent relative strength. Stop loss is placed at Rs 10,800 and target is placed at Rs 12,000.
Himanshu Gupta, Head of Research, Retail Broking, Jainam

63 Moons Technologies has staged a decisive technical turnaround after spending several months in a prolonged corrective phase. The stock has reclaimed all its key moving averages, with the 20 EMA positioned above the 50 EMA, while the 200 EMA is beginning to flatten, indicating a transition from a bearish structure to an emerging uptrend.
Price action is characterized by a series of higher highs and higher lows, confirming sustained buying interest. The recent breakout above the Rs 740–750 resistance zone has been accompanied by a noticeable pickup in volumes, adding credibility to the move. RSI is trading around 64, reflecting strengthening momentum without yet entering an extremely overbought zone, suggesting there is room for further upside.
As long as the stock holds above the breakout region of Rs 720–730, the primary trend remains positive. Traders can consider accumulating on minor pullbacks with a stop loss below Rs 684 (200 EMA). On the upside, the stock has the potential to test Rs 830 initially, followed by Rs 900, making the current setup favorable from a risk-reward perspective. Stop loss is placed at Rs 685 and target is placed at Rs 900.
Himanshu Gupta, Head of Research, Retail Broking, Jainam

The down trend of the last 2-3 weeks seems to have reversed up so far this week. The formation of a crucial higher bottom reversal pattern recently at Rs 1,405 can be observed. The stock price is in the process of moving above the hurdle of weekly 10 and 20 period EMA and down trend line. Volume has started to expand during upside breakout in the stock price and daily RSI shows positive indication. Stop loss is placed at Rs 1,395 and target is placed at Rs 1,580.
Nagaraj Shetti, AVP - Technical Research, HDFC Securities

The stock price is in a strong upside momentum over the last few months. A bullish pattern like higher tops and bottoms over the period of time can be observed. The stock witnessed a sharp breakout of a few weeks range at Rs 300 levels recently. Volume and RSI patterns are indicating positive bias for the stock price ahead. Stop loss is placed at Rs 292 and target is placed at Rs 332.
Nagaraj Shetti, AVP - Technical Research, HDFC Securities
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)