Sumeet Bagadia, Executive Director at Choice Broking, has recommended four stocks for the near term — Balrampur Chini Mills, Datamatics Global Services, Castrol India and Cyient — based on their technical setups and price Momentum. His recommendations, along with stop-loss and target levels, are as follows:
1] Balrampur Chini Mills: Buy at ₹686, stop loss at ₹657, and target ₹750
Balrampur Chini Mills is showing renewed upward traction after taking support along its rising trend line, followed by a decisive breakout above the highs of the previous two sessions. The move is accompanied by an increase in volume, pointing to stronger participation behind the price expansion. Further strength is evident as the stock has sustained and closed above the 21-Day EMA, keeping the near-term structure supportive. The Supertrend indicator is also signalling bullish trend continuation, adding confirmation to the prevailing price action. With 657 marking the key downside level, continued follow-through above the recent breakout highs could extend the advance towards the 750 objective.
2] Datamatics Global Services: Buy at ₹808, stop loss at ₹765, and target ₹890
Datamatics Global Services is displaying a notable shift in its daily price action with the formation of a bullish engulfing candlestick pattern, indicating renewed buying interest after the recent weakness. The stock has further improved its technical structure by sustaining and closing above the 200-Day EMA with volume, adding significance to the move and suggesting stronger participation at higher levels. Momentum is also recovering, with the RSI rebounding from oversold territory, pointing towards improving underlying strength. The 765 mark will act as the key risk-control level for the setup. If the stock maintains its position above the 200-Day EMA and follows through on the recent strength, the move could progress towards 890.
3] Castrol India: Buy at ₹202, stop loss at ₹792, and target ₹221
Castrol India has delivered a strong technical breakout on the daily chart by moving above the previous week’s high with a large-volume candle, accompanied by notable volume spikes that highlight increased market participation. The setup gains further strength as the Bollinger Bands squeeze has resolved with an upside breakout, indicating an expansion in price volatility and renewed directional momentum. The RSI sustaining above 60 also points towards strengthening upside momentum and continued buyer interest. With 192 serving as the key downside reference, the recent breakout structure remains in focus; sustained buying above the previous week’s high could pave the way for an advance towards 221.
4] Cyient: Buy at ₹1,096, stop loss at ₹1,044, and target ₹1,200
Cyient has shifted into a stronger technical phase after registering a breakout from its established sideways range on the daily chart, signalling renewed upward participation. Adding weight to the breakout, the 21-Day and 200-Day EMAs have delivered a positive crossover, indicating an improving trend structure across the shorter and broader timeframes. The Supertrend indicator is also pointing towards a bullish trend, reinforcing the positive directional setup. Momentum remains supportive, with the RSI holding above the 60 mark, reflecting sustained strength in buying activity. The 1,044 level remains the key risk threshold, while continued traction following the range breakout could open the path towards the 1,200 target.
Nifty, Bank Nifty outlook: Can key support levels prevent further selling?
Sumeet Bagadia said, “Nifty is likely to retain a sideways to bearish bias, with immediate support placed at 22,900–23,000 and resistance at 23,300–23,370. A sustained move above 23,370 could provide room for a recovery towards higher levels, whereas a decisive break below 22,900 may resume the broader selling pressure. The expected trading range for the next session is 22,900–23,370.”
On sectoral trends, Bagadia said, “Sector-wise, consumer durables, realty and auto showed positive momentum, while IT, healthcare and oil & gas remained under pressure. Overall, sectoral performance was mixed, with no clear directional trend dominating the market.”
Turning to Bank Nifty, Bagadia said, “For the near term, 55,000–55,200 will remain the key support zone, while 55,750–56,000 is likely to act as the immediate resistance area. A sustained move above 56,000 could improve the short-term structure, while a break below 55,000 may increase selling pressure.”
Bagadia added, “Until either side of the range is decisively breached, the index is likely to remain range-bound. The expected trading range for the next session is 55,000–56,000 with a sideways-to-bearish bias.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
