Top 3 Stocks Recommended by Ankush Bajaj for 17 July
Buy: PG Electroplast Ltd (PGEL) — Current Price: ₹828.00
- Why it’s recommended: PG Electroplast Ltd is showing a strong bullish continuation setup supported by a clean breakout pattern. On the daily chart, the Relative Strength Index (RSI) is at 63, reflecting healthy strength with room for further upside. On the 15-minute timeframe, the stock has given a clear breakout from a triangle pattern, confirming fresh momentum and pointing to a short-term target of 860 and beyond. This pattern breakout, combined with sustained buying interest and momentum alignment across timeframes, makes PGEL an attractive candidate for a quick swing trade.
- Key metrics: Breakout zone: Triangle pattern breakout on intraday charts with strong follow-through.
- Pattern: Triangle breakout confirming short-term trend continuation.
- RSI: Bullish, holding above 60 on daily timeframe.
- Technical analysis: The price structure is technically sound with a clean breakout and momentum confirmation. The stock is expected to test levels around ₹860– ₹870 if broader sentiment stays positive.
- Risk factors: A close below ₹799 would invalidate this breakout signal and could trigger a short-term pullback. Traders should watch for any sudden profit booking and protect positions with a strict stop-loss.
- Buy at: ₹828.00
- Target price: ₹860– ₹870
- Stop loss: ₹799.00
Buy: Dixon Technologies Ltd — Current Price: ₹16,099.00
- Why it’s recommended: Dixon Technologies has posted a decisive breakout above the key psychological level of 16,000, signalling continued strength and attracting fresh buyers. The daily RSI is at 67, reflecting strong bullish momentum that still has headroom before becoming overbought. On lower timeframes, the stock is holding well above major exponential moving averages, which reinforces the breakout’s validity and suggests that dips are being absorbed by buyers. The stock is well-positioned for a follow-through move toward its next upside levels if the overall market tone stays supportive.
- Key metrics: Breakout zone: Sustained close above 16,000 — a key psychological and technical level.
- Pattern: Continuation breakout with momentum alignment across daily and intraday timeframes.
- RSI: Strong, at 67, showing persistent bullish sentiment.
- Technical analysis: With the breakout confirmed by decisive price action and strong support from moving averages, Dixon remains well placed for a move toward ₹16,640.
- Risk factors: A close below ₹15,830 would negate this breakout setup and may trigger a short-term pullback. Traders must trail stop-losses to lock in gains if momentum falters.
- Buy at: ₹16,099.00
- Target price: ₹16,640.00
- Stop loss: ₹15,830.00
Buy: Uno Minda Ltd — Current Price: ₹1,119.50
Why it’s recommended: Uno Minda Ltd is on the verge of breaking out to fresh lifetime highs, backed by strong technical confirmation. The daily RSI is at 68, highlighting robust bullish strength that remains sustainable in the short term. On lower timeframes, the stock has broken out from the upper channel of a triangle pattern, which is a classic continuation setup suggesting that momentum traders are stepping in for further upside. If the stock holds above the breakout zone, it is well placed to test levels around ₹1,150 and higher.
Key metrics: Breakout zone: Breakout from the upper channel of a triangle pattern on lower timeframes.
Pattern: Triangle breakout indicating a push toward new highs.
RSI: Firmly bullish at 68 on daily charts.
Technical analysis: Strong price action and pattern confirmation indicate the stock can extend its rally toward ₹1,150– ₹1,155 if the market supports the breakout.
Risk factors: A close below ₹1,102 would invalidate this breakout and could lead to a quick pullback. Traders should keep a disciplined stop-loss and manage risk proactively.
Buy at: ₹1,119.50
Target price: ₹1,150– ₹1,155
Stop loss: ₹1,102.00
Market Wrap
On Wednesday, July 16, 2025, the Indian stock market closed on a slightly positive note on Wednesday, July 16, 2025, as benchmark indices managed to inch into the green after a day marked by choppy movements and selective sectoral strength. Despite early weakness, investor confidence in defensives and specific value-led sectors helped the indices stabilize and end the session with marginal gains.
TheNifty 50 ended the day at 25,212.05, rising slightly by16.25 points or 0.06%, while theBSE Sensex added 63.57 points or 0.08% to settle at 82,634.48. The Bank Nifty also closed on a flattish but positive note, up 14.20 points or 0.02%, at 57,246.80, helped by late buying in key financial names.
Sectorally, the market remained mixed. The Metal sector declined by0.54%,Healthcare fell by0.34%, andPharma edged down by0.32%, reflecting some profit-taking in high-beta counters. However, other segments offered strong support. ThePSU Bank index led the recovery with a sharp1.81% gain, followed byRealty at0.50%, andFMCG at0.45%, helping balance the session’s tone.
On the stock-specific front,M&M was the standout performer with an impressive rally of4.76%, whileWipro andSBI gained2.76% and2.67%, respectively, boosted by continued institutional interest and sectoral momentum.
Meanwhile, select heavyweights saw profit-booking pressure.Shriram Finance slipped2.35%,Eternal declined1.54%, andSun Pharma fell1.53%, indicating caution in stocks that had recently run up.
Nifty Technical Analysis Daily & Hourly
The Nifty ended Tuesday’s session (16 July) on a flat note, closing at 25,212.05, up just 16.25 points or 0.06 percent. The index managed to hold above the psychological 25,200 mark but showed no strong follow-through buying, which highlights the ongoing indecision in the market. Technically, the index continues to hover between key moving averages — it is now trading above the 40-day EMA at 25,038 but still remains below the 20-day simple moving average at 25,309. This setup indicates that while immediate downside pressure has eased, the bounce still needs to clear the 20-DMA to neutralise the recent weakness and shift the short-term bias back to neutral.
On the hourly chart, the index is trading above its short-term 20-hour SMA at 25,152 but is yet to decisively clear the 40-hour EMA at 25,234. This means the 25,200 to 25,250 zone continues to act as an immediate supply area, and only a firm close above the 40-hour EMA and the 20-day moving average can trigger further short covering and push the index toward 25,350.
Momentum signals remain mixed and reflect this indecision. On the daily timeframe, the RSI is at 51, which is slightly positive but still neutral, while the hourly RSI has slipped to 49, showing mild hesitation in the intraday trend. The daily MACD stays positive at 86, indicating that the medium-term trend has not turned outright negative yet, but the hourly MACD remains negative at –12, which shows that short-term momentum is still lacking strength.
Options data paints a cautiously improving picture. The total call open interest stands at 17.64 crore while Put OI is at 14.14 crore, leaving a net difference of –3.50 crore, which keeps the overall tone slightly bearish. However, the intraday changes hint at stabilisation as Put OI rose by 1.56 crore while Call OI rose by 1.08 crore, resulting in a positive net change difference of about 47 lakh — a sign of fresh Put writing and some resistance emerging near 25,250. The maximum Call OI remains at the 25,500 strike, suggesting stiff resistance overhead, while the largest addition in Calls was seen at 25,250, reinforcing that this level is the immediate hurdle to watch. On the downside, the maximum Put OI and the highest Put additions are clustered around 25,200 to 25,150, underlining this zone as an important near-term support.
Meanwhile, India VIX fell further by 2.09 percent to 11.24, showing that volatility remains contained and the bounce has been orderly so far. The Put-Call Ratio has improved slightly to 0.80, still below 1, indicating a cautious stance but a mild improvement in sentiment compared to the previous session.
In summary, the Nifty’s short-term structure stays rangebound and somewhat vulnerable unless it sustains a decisive close above 25,250 to 25,300. A breakout above the 20-DMA at 25,309 and the 40-hour EMA at 25,234 could open the way for the index to move toward 25,350 or even 25,500. On the flip side, 25,200 and 25,000 remain the critical support levels, and a break below these could invite fresh selling pressure toward 24,800. Until a clear breakout unfolds, traders should watch for acceptance or rejection around the 25,250 to 25,300 zone and maintain strict stop-losses if trading against the trend.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
