Market Trading Guide: 360 One Wam among 6 stock recommendations for Wednesday

Profit booking emerged in the latter half of the session on Tuesday as weakness across Asian markets and investor caution ahead of the release of US Fed minutes weighed on sentiment. However, IT stocks continued to lend support, extending gains ahead of the June-quarter earnings season as the sector recovered from recent corrections.

Here are six stock recommendations for Wednesday

360 One Wam - Buy | Buying Zone: Rs 1,150 | Stop-loss: Rs 1,080 | Target: Rs 1,200-1,260


360 One Wam has staged a strong recovery after finding support near the Rs 1,070 zone and is now attempting a breakout above the immediate resistance around Rs 1,150. The stock is trading above its 20, 50, 100 and 200-day EMAs, indicating a positive shift in trend, while RSI has rebounded above 62, reflecting improving bullish momentum.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

HFCL - Buy | Buying Zone: Rs 226 | Stop-loss: Rs 217 | Target: Rs 235

HFCL continues to exhibit a strong bullish trend, trading well above its 20, 50, 100 and 200-day EMAs, indicating sustained buying momentum. The stock is currently consolidating near its recent highs around Rs 226, with RSI above 71, reflecting strong momentum but also hinting at a mildly overbought condition.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

RITES - Buy | Stop-loss: Rs 215 | Target: Rs 260

RITES is trading above its 50 and 200-EMA, confirming a stable uptrend, with RSI at 58 signaling healthy bullish momentum without being overbought. A recent higher-high, higher-low structure on weekly charts supports continuation toward Rs 260-270 on a positional basis.

Himanshu Gupta, Head of Research - Retail Broking, Jainam

Azad Engineering - Buy | Stop-loss: Rs 2150 | Target: Rs 2500

Stock is showing strong accumulation over past few weeks . MACD shows a bullish crossover on the daily chart, with price consolidating above key moving averages after profit-booking, a healthy re-accumulation zone. OBV trending higher confirms volume-backed accumulation.

Himanshu Gupta, Head of Research - Retail Broking, Jainam

EPL - Buy | Target: Rs 280

The stock seem to have formed a strong base over past many months and now on the verge of breaking out of the short term supply zone of 240 -250 levels. From August 2020 the stock has been broadly consolidating and has forming a cup and handle formation on higher time frames.

Himanshu Gupta, Head of Research - Retail Broking, Jainam

PGEL - Buy | Buying Zone: 578 | Stop-loss: Rs 553 | Target: Rs 625

The stock price was in a strong upside momentum over the last few weeks. We observe bullish pattern like higher tops and bottoms over the period of time. Currently, in an attempt of breakout of few weeks swing highs around Rs 580-585 levels. Volume and RSI patterns are indicating positive bias for the stock price ahead.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)