Market Trading Guide: Buy Piramal Finance, JBM Auto & 4 more stocks on Wednesday for gains up to 20%

Nifty ended lower on Tuesday amid significant selling pressure in banks, auto and IT stocks. Momentum indicator RSI is in a bearish crossover, indicating declining price momentum.

Rupak De, Senior Technical Analyst at LKP Securities said Nifty got entangled within the bands of 20EMA and 50EMA, and said he sees now that the market is waiting for cues for the next directional move. "The market does not appear convinced enough to move beyond a particular range. On the other hand, on the lower end, support is placed at 23,950; a decisive fall below this level might trigger a correction in the market. Resistance on the higher end, is placed at 24200, above which the Nifty might witness a directional up move," De said.
Here are 6 stocks to buy:

Stop Loss- Rs 685
Target: Rs 844Buy - 739
The stock has delivered a decisive breakout above the key resistance zone near 705–710, supported by a sharp surge in volumes, indicating strong participation and fresh buying momentum. Price is sustaining well above all major moving averages, which are positively aligned and acting as dynamic support on declines. The overall structure reflects a continuation of higher highs and higher lows, confirming a strong uptrend. Additionally, RSI is trending in the bullish zone, suggesting sustained momentum without immediate signs of exhaustion. As long as the price holds above the breakout level, the trend remains intact, making it an attractive buy-on-dips opportunity.

(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)

Stop Loss- Rs 1,870

Target: Rs 2,300
The stock has witnessed a strong breakout above its key resistance zone around 1,900, supported by a sharp surge in volumes, indicating fresh participation and strong buying interest. Price action is trading well above short- and medium-term moving averages, which are aligned positively and acting as immediate support levels. The breakout from a prolonged consolidation phase suggests the beginning of a new uptrend. Additionally, RSI has moved into a bullish zone, reflecting strengthening momentum without excessive overheating. As long as the stock sustains above the breakout level, the overall structure remains favourable for further upside, making it an attractive buy-on-dips opportunity
(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)

Target: Rs 500-520
Stop Loss: Rs 380
RAMRAT is in a well-established uptrend with a recent breakout into price discovery. The structure, moving averages, volume, and momentum indicators are all aligned on the bullish side. The latest price action confirmed a breakout above key pivot levels of 380-400 zone, suggesting the supply overhang is over. The stock has formed a rounding bottom base, along with a cup and handle formation for nearly one and a half year before recently breaking out of it with notable contraction in volatility witnessed. On Point and Figure Charts (1 X3%), there is an Anchor follow through buy active pointing towards higher targets. The relative strength chart viz a viz nifty 500 is also very strong (turtle bullish breakout along with AFT pattern active) and is trading in an uncharted trajectory. Based on the technical setup we recommend a buy on Ramratan Wires around 415-420 zone for targets of 500-520 with a stop loss below 380.
(Himanshu Gupta, Head of Research – Retail Broking (AVP), Jainam Broking)

Target: Rs 684
Stop Loss: Rs 563
The stock has bounced sharply after forming a base around the 400 zone, which is also a potential double bottom on the long-term charts. Recently it has broken out above the key resistance zone of ₹545–550 and recently retested this breakout level, indicating a potential bullish flag and pole formation on the daily chart supported by good volume. Additionally, the stock is trading above all its important moving averages (20, 50, 100, and 200-day EMAs), with all EMAs trending upward, reflecting strong underlying strength. The momentum indicator RSI is also trading above 60, further supporting a bullish outlook in the near term.

(Himanshu Gupta, Head of Research – Retail Broking (AVP), Jainam Broking)

Target: Rs 715
Stop Loss: Rs 610
The stock has broken out above the falling trendline near Rs 610 and successfully retested it. Earlier the stock has been witnessing a strong demand around the 500-550 zone from where it has bounced back each time since 2023. The recent correction phase saw declining volumes, indicating weak selling pressure, while up days witnessed string buying pointing accumulation from strong hands. A fresh breakout from a small consolidation with strong volumes adds to the bullish setup. The stock is trading above its 20 and 50 EMA, both trending upward, while RSI above 60 signals continued bullish momentum in the near term.

(Himanshu Gupta, Head of Research – Retail Broking (AVP), Jainam Broking)

Target: Rs 1,962
Stop Loss: Rs 1,500
The Indian Metals & Ferro Alloys (IMFA) stock has recently given an all-time high breakout and witnessed a brief consolidation, forming a bullish flag and pole pattern on the daily chart. The breakout is supported by strong volume, indicating buying interest. Additionally, the RSI is trading above 65, suggesting strong bullish momentum in the near term. The counter has been showing strong relative strength against the broader markets even when the selling pressure was weighing on the sentiments. The classic VCP pattern has confirmed a fresh round of momentum which is likely to push stock further higher.
(Himanshu Gupta, Head of Research – Retail Broking (AVP), Jainam Broking)

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