The range expiration in November remained subdued. Commenting on the day’s action, Nilesh Jain, Head – Technical and Derivatives Equity Research Analyst at Centrum Broking, said the index struggled to cross the psychological barrier at 26,000 and eventually closed below 25,900. A clear move above 26,000 is now essential to establish short covering and pave the way to 26,200, he said. “Currently, the index is at a precarious position near the 21-DMA at 25,850. A decline below this support could accelerate the downtrend towards 25,700. The broader trend remains bullish and a buy-on-dip strategy is likely to work as long as the Nifty remains above its 50-DMA, which is currently positioned around the 25,490 level,” Jain added.
Here are 6 stock recommendations for Wednesday:
Buy Rallis India for Rs 261.30 | Positive: 8.3% Stop Loss: Rs 250 Target: Rs 283
Buy with a time frame of 2-3 weeks. The downward trend of the past 2-3 months appears to have turned upward on Tuesday. We see a formation of a crucial bottom reversal pattern at Rs 245. The stock price has decisively broken above the short-term sideways range of Rs 253 levels. Volume has started to grow amid an upward breakout in the stock price and the daily RSI is showing a positive indication.
(Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities)
Buy AB Capital for Rs 345.90 | Benefit: 8%
Stop loss: Rs 331
Target: Rs 372
Buy with a time frame of 2-3 weeks. The stock price has been on strong upward momentum for the past six to seven months. We see a bullish pattern over time such as higher highs and lower bottoms. Currently attempting a few weeks upside breakout at Rs 345 levels. Volume and RSI patterns indicate a positive bias for the upcoming stock price.
(Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities)
Buy Lumax Industries for €5,542.10 | Benefit: 4%
Stop loss: Rs 5,360
Target: Rs 5,775
Lumax Industries made a strong resistance break, closing significantly higher at 75,542.10 with a rise of 10.68%, supported by heavy volumes, indicating strong bullish participation. Price action is firmly positioned above the major EMAs and maintains a solid uptrend structure, while the RSI at 67.36 signals healthy positive momentum without overheating. The bullish breakout candle strengthens the continuation bias as long as the stock remains above the breakout zone.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
Buy Maharashtra Seamless at Rs 585 | Positive: 9.4%
Stop loss: Rs 555
Target: Rs 640
MAHSEAMLES is showing strong bullish momentum following a solid closing candle that engulfed the previous six-day range, indicating renewed buying interest. The stock has found strong support near the 200-week EMA on the weekly chart, reinforcing the long-term bullish structure and pointing to stability at lower levels. The price has now closed near the key resistance zone of 585-590, and a decisive breakout and sustained move above this range could open the door for further upside towards 640. On the other hand, immediate support is around 555, where visible accumulation indicates that buyers are active and protecting the level. The RSI is at 69.92, which reflects strong momentum and supports the continuation of the uptrend.
(Hitesh Tailor, Research Analyst, Choice Brokerage)
Buy Century Plyboards for €789.95 | Benefit: 9%
Stop loss: Rs 750
Target: Rs 860
CENTURYPLY is currently near a critical point as it approaches the upper boundary of a well-formed symmetrical triangle pattern. This structure reflects an extended phase of consolidation, with price action gradually narrowing towards the top. The recent strong upward move signals renewed buying interest and puts the stock close to a potential breakout zone. Immediate support is aligned with the lower trend line near the recent swing area, while resistance remains at the upper converging line. A decisive step above this level will determine the next phase of direction. Momentum is gradually strengthening, with the RSI rising from neutral territory, indicating sentiment is improving. The price is also trying to regain a foothold above the major moving averages, indicating early signs of structural recovery.
(Hitesh Tailor, Research Analyst, Choice Brokerage)
Buy AB Capital for Rs 345.45 | Benefit: 5%
Stop loss: Rs 336
Target: Rs 362.70
AB Capital has delivered a strong higher-high, higher-low break above a key resistance zone, supported by sharp volume growth, confirming genuine buying interest and trend strength. The clean breakout structure reinforces bullish control, with price firmly positioned above the major moving averages and momentum accelerating. With this decisive move, the stock appears well positioned for further upside potential, and dips towards the breakout zone are likely to attract new buying.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
Buy The Phoenix Mills for €1,731.70 | Benefit: 7%
Stop loss: Rs 1,660
Target: Rs 1,850
PHOENIX is showing signs of strength after an upside breakout from a parallel channel pattern, supported by a strong bullish candle, indicating renewed upside momentum. The stock recently gained firm support near the previous higher peak zone of 1650–1660, reinforcing the bullish structure and confirming that buyers are active at lower levels. On the upside, the price is now approaching immediate resistance around 1740, and a breakout and sustained trading above this zone could lead to further upside move towards 1840. On the other hand, immediate support is seen around 1680, where consistent buying interest suggests accumulation and protection against deeper corrections. The stock is trading above the key 20, 50 and 200 EMAs, indicating a healthy uptrend.
(Hitesh Tailor, Research Analyst, Choice Brokerage)
(Disclaimer: Recommendations, suggestions, views and expert opinions are their own. These do not represent the views of the Economic Times)
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