On September 21, 2026, Muthuselvaraj M, a Research Analyst at Mirae Asset Sharekhan, shared insights on several prominent Indian stocks, outlining 'buy' recommendations with specific target prices and stop-loss levels for traders. The analysis focuses on Welspun Corp, Vodafone Idea, and HDFC Bank, highlighting their recent performance and potential future movements.
Welspun Corp: Positive Trend Continues
Welspun Corp Ltd. has maintained a strong upward trajectory since March 2026, consistently forming higher highs and higher lows. The stock recently achieved a 52-week high of Rs 2,785, signaling robust buyer interest, further supported by the daily Relative Strength Index (RSI) exceeding 70. Analysts project a potential move towards Rs 2,900-3,140 in the short-to-medium term. Investors should monitor the support zone between Rs 2,240 and Rs 2,100, as a breach below this could trigger profit-taking. The overall outlook remains bullish, provided the current trend holds. The recommended stop-loss is Rs 2,170.
Vodafone Idea: Recovery and Expansion Fuel Optimism
Vodafone Idea has demonstrated a significant rebound from its April 2026 lows, exhibiting a constructive pattern of rising peaks and troughs. The telecommunications giant's improved Average Revenue Per User (ARPU) and ongoing 5G network expansion have contributed to its recent ascent, with the stock hitting 52-week highs near Rs 15-16. This performance bodes well for the medium-term outlook. A decisive breakout above Rs 16 could propel the price towards Rs 18-20. Trading above its 200-day Exponential Moving Average (EMA) of Rs 11 suggests a bullish long-term view, though short-term profit-taking might occur with support identified at Rs 12-13. The suggested stop-loss for this stock is Rs 12.50.
HDFC Bank: Stabilizing After Correction
HDFC Bank Ltd. has found a stable base following a correction from its peak of Rs 1,020. The near-term to medium-term outlook is positive, with potential targets set at Rs 780-840. This upward potential is bolstered by a critical support zone ranging from Rs 680 to Rs 710. Additionally, the stock finds short-term strength from its 20-day EMA at Rs 716. Momentum indicators are showing signs of recovery from oversold conditions, indicating renewed buying interest. Overall, HDFC Bank is expected to maintain a positive trend in the short-to-medium term. A stop-loss is advised at Rs 695.
Disclaimer: This analysis is provided for informational purposes only and does not constitute investment advice. Readers should consult a qualified financial advisor before making any investment decisions.