As the Indian stock market begins the final week of May on a strong note, leading domestic brokerage firms, including Master Capital Services and SMC Global Securities, have identified several stocks poised for short-term gains. These recommendations offer traders specific entry points, target prices, and crucial stop-loss levels, leveraging current market momentum and technical indicators.
Steel Authority of India (SAIL)
Master Capital Services recommends a 'Buy' on Steel Authority of India (SAIL), noting its strong bullish structure. The stock is currently trading around Rs 200, sustaining above its Rs 175 breakout zone, which now acts as robust support. Momentum indicators are supportive, with the Relative Strength Index (RSI) near 66, indicating healthy strength without being overbought. A move above Rs 202-205 could propel SAIL towards a target price of Rs 215-220. Traders should maintain a stop loss below Rs 192.
Dixon Technologies (India) Ltd
Dixon Technologies shows signs of a gradual price structure improvement after a period of consolidation, according to Master Capital Services. Trading around Rs 11,700–11,800, the stock is attempting to cross the significant Rs 12,080 resistance level. A breakout here could signal a fresh upward move. The RSI near 61 suggests improving momentum and renewed buying interest, supported by increased volume. A sustained move above Rs 12,080 could push the stock towards a target price of Rs 12,800–13,200, with Rs 11,200 serving as an important stop loss.
Max Financial Services Ltd (MFSL)
SMC Global Securities advises a conditional 'Buy' for Max Financial Services Ltd (MFSL) above Rs 1,720. The stock has undergone healthy consolidation after a sharp recovery, with strong accumulation observed near the Rs 1,560–1,580 support zone. MFSL has consistently faced resistance around Rs 1,700, while buyers aggressively defend lower levels. This behavior often precedes a directional move, with momentum indicators gradually stabilizing. A decisive breakout above the Rs 1,700–1,720 resistance band could trigger momentum towards a target price of Rs 1,930-1,935. The recommended stop loss is below Rs 1,580.
Kotak Mahindra Bank Ltd
Kotak Mahindra Bank is displaying early signs of recovery following a prolonged corrective phase, as per Master Capital Services. Trading around Rs 384–385, the stock is stabilizing, suggesting easing selling pressure. An RSI around 54 indicates improving momentum, leaving room for further upside. The stock is building a base, and a sustained hold above current levels could support a recovery. A breakout above the immediate hurdle of Rs 403 could trigger momentum towards a target price of Rs 420–430. Traders should set a stop loss at Rs 375.
Apollo Hospitals Enterprise Ltd
Master Capital Services highlights Apollo Hospitals' strong breakout above the crucial Rs 7,900 resistance zone, indicating renewed strength. The stock, currently trading around Rs 8,350, maintains a bullish setup with higher highs and higher lows. The RSI near 72 reflects strong buying interest, though short-term consolidation is possible. As long as the stock remains above Rs 7,900–8,000, the outlook is positive, with potential upside towards a target price of Rs 8,600–8,800. A crucial stop loss is placed at Rs 7,850.
Sudarshan Chemical Industries Ltd
SMC Global Securities recommends accumulating Sudarshan Chemical Industries in the Rs 1,000-1,020 range. The stock has demonstrated a strong bullish reversal after breaking out from a prolonged consolidation near the Rs 980–990 resistance. It had formed a higher base, indicating gradual accumulation. The recent sharp breakout candle reflects renewed buying momentum and improved sentiment, suggesting the stock may be entering a fresh uptrend. The expected upside is towards a target price of Rs 1,180-1,200, with a stop loss below Rs 885.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.