In a recent analysis, Vishnu Kant Upadhyay, AVP of Research at Master Capital Services, identified Multi Commodity Exchange of India (MCX), Divis Laboratories, and Radico Khaitan as top stocks for traders. The recommendations come amidst a volatile market, with Indian equity benchmarks recently experiencing a sharp decline due to rising bond yields and crude oil prices.
Multi Commodity Exchange of India (MCX)
MCX is currently showing a strong bullish trend, approaching a potential all-time high breakout above the Rs 3,480 level. The stock's chart structure remains positive, consistently forming higher highs and higher lows, indicating sustained buying interest. During corrective phases, MCX has reliably found support around its 21-day Exponential Moving Average (EMA), reflecting healthy pullbacks and strong trend continuation. The stock also trades above all its key moving averages, reinforcing its underlying bullish structure. With the Relative Strength Index (RSI) at 64, momentum is robust without being in the overbought zone. A decisive break above Rs 3,480 could significantly boost short-term upside.
- Recommendation: Buy
- Target Price: Rs 3,700-3,800
- Stop Loss: Rs 3,190
Divis Laboratories
Divis Labs has maintained a continuous bullish uptrend, marked by consistent higher highs and higher lows on its daily chart, signaling persistent buying interest. The stock has held its position above key short-, medium-, and long-term moving averages, with a rising EMA structure further confirming the positive trend. Recent months have seen strong price expansion, supported by healthy momentum and notable volume spikes. Currently trading near its all-time high, Divis Labs has tested previous peaks, indicating robust underlying demand. Sustained strength above its recent consolidation range could propel further upward momentum, while any dips towards the short-term EMA are seen as buying opportunities.
- Recommendation: Buy
- Target Price: Rs 10,500-11,000
- Stop Loss: Rs 9,050
Radico Khaitan
After a healthy corrective phase, Radico Khaitan found strong support near its 55-day EMA before regaining momentum and resuming its broader uptrend. The stock has registered a decisive breakout above the Rs 4,480 resistance level and reclaimed its 21-day EMA, signaling renewed buying interest and strengthening short-term momentum. The overall price structure remains constructive, with Radico Khaitan sustaining above its key moving averages and continuing to form higher highs and higher lows. This recent breakout reinforces the prevailing bullish setup. Continued trading above Rs 4,480 is expected to maintain positive momentum and provide scope for further near-term upside.
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.