On September 17, the benchmark indices hit a new closing high despite volatility. Despite a negative breadth, with 1,515 shares declining and 946 shares advancing on the NSE, the session closed with moderate gains. This signals the potential for consolidation before a new leg of up move in the Nifty 50. Below, we present key trading insights and strategies for notable stocks that traders can consider for Wednesday.
Trading Ideas for Key Stocks
| Stock | CMP | Strategy | Target | Stop-Loss |
|---|---|---|---|---|
| Hero MotoCorp | Rs 5,961 | Buy on dips | Rs 6,450 | Rs 5,720 |
| PB Fintech | Rs 1,848.5 | Buy | Rs 2,000 | Rs 1,770 |
| Century Plyboards | Rs 885 | Buy on dips | Rs 960, Rs 970 | Rs 835 |
| Birlasoft | Rs 648.5 | Buy | Rs 690 | Rs 610 |
| Kotak Mahindra Bank | Rs 1,846.65 | Buy | Rs 1,900 | Rs 1,825 |
| HDFC Bank | Rs 1,668.8 | Buy | Rs 1,700, Rs 1,720 | Rs 1,650 |
| UTI AMC | Rs 1,291.4 | Buy | Rs 1,400 | Rs 1,245 |
| JSW Infrastructure | Rs 335.9 | Buy | Rs 375 | Rs 312 |
| CG Power & Industrial Sol. | Rs 731 | Buy | Rs 790 | Rs 730 |
1. Hero MotoCorp (CMP: Rs 5,961)
Hero MotoCorp has broken out of a rounding bottom pattern on the daily chart, supported by increased volumes. The stock has made a fresh high, closing above the previous day's, indicating bullish momentum. Additionally, the KST (Know Sure Thing) indicator has moved above the zero line, confirming strength in the trend. Hero MotoCorp is trading near the upper Bollinger Band, suggesting a decisive breakout could accelerate positive momentum.
- Strategy: Buy on dips
- Target: Rs 6,450
- Stop-Loss: Rs 5,720
2. PB Fintech (CMP: Rs 1,848.5)
PB Fintech has made a lifetime high of Rs 1,871.4 and is trading at the upper end of the Keltner channel. A breakout from this level could bring additional momentum, supported by a bullish MACD crossover. A breach above Rs 1,875 could push the stock towards Rs 2,000.
- Strategy: Buy
- Target: Rs 2,000
- Stop-Loss: Rs 1,770
3. Century Plyboards (CMP: Rs 885)
Century Plyboards surged by 10.4% in the previous session, forming a rounding bottom pattern and closing above Rs 850. This breakout, supported by an ADX reading of 58.17, indicates strong momentum. Traders can take advantage of dips as buying opportunities for potential moves towards Rs 960–970.
- Strategy: Buy on dips
- Target: Rs 960, Rs 970
- Stop-Loss: Rs 835
4. Birlasoft (CMP: Rs 648.5)
Birlasoft has strong support at Rs 625, with additional backing at Rs 619. The stock is showing positive momentum, with the RSI at 51 and a target of Rs 690. A breakout could lead to a significant upside.
- Strategy: Buy
- Target: Rs 690
- Stop-Loss: Rs 610
5. Kotak Mahindra Bank (CMP: Rs 1,846.65)
Kotak Mahindra Bank is offering a buying opportunity at Rs 1,843, with an expected rally towards Rs 1,900. The technical setup remains bullish, with a sustained move above Rs 1,850 likely to lead to gains.
- Strategy: Buy
- Target: Rs 1,900
- Stop-Loss: Rs 1,825
6. HDFC Bank (CMP: Rs 1,668.8)
HDFC Bank trades near key support levels, providing an entry point at Rs 1,668. A breakout above Rs 1,700 could propel the stock towards Rs 1,720. The technical indicators suggest positive momentum, with a tight stop-loss recommended.
- Strategy: Buy
- Target: Rs 1,700, Rs 1,720
- Stop-Loss: Rs 1,650
7. UTI Asset Management Company (CMP: Rs 1,291.4)
UTI AMC is in a strong uptrend, forming higher highs and higher lows. A breakout above Rs 1,302 could trigger a fresh rally, with RSI around 70 indicating strong traction.
- Strategy: Buy
- Target: Rs 1,400
- Stop-Loss: Rs 1,245
8. JSW Infrastructure (CMP: Rs 335.9)
JSW Infrastructure has broken a declining trendline, with strong volume participation supporting a potential upside. The stock is trading above its 20 and 50-day moving averages, and a move above Rs 340 could fuel further gains.
- Strategy: Buy
- Target: Rs 375
- Stop-Loss: Rs 312
9. CG Power and Industrial Solutions (CMP: Rs 731)
CG Power is forming a bullish double-bottom pattern and has shown a gradual upward trend. Breaking the Rs 740 resistance level could push the stock towards Rs 790, supported by strong volume and technical indicators.
- Strategy: Buy
- Target: Rs 790
- Stop-Loss: Rs 730
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Akanksha Sinha
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