On a Monday in early January, Indian equities paused after a run of gains, with the Nifty 50 slipping 0.3 percent as sellers gained the upper hand across the National Stock Exchange. In the quiet that followed, several brokerage researchers turned their charts toward what might come next, offering short-term buy ideas on a handful of companies, each bounded by a clear entry, a target and a point at which the bet is abandoned. It is the familiar rhythm of markets, in which a pause invites both caution and conviction, and in which the analysts' own judgments, however carefully reasoned, will be
Analysts Flag Buy Calls on Havells, Tata Elxsi, REC, SAIL and Union Bank for January 6 Session
Every idea carries a defined exit if it fails.
Mark
Why does a 0.3 percent dip matter enough to prompt a list of buy calls?
Mimi
It's small, but it ended a run of gains and breadth was weak, with 1,821 decliners against 1,068 advancers. Analysts say the market may stay range-bound until it trades below Monday's high.
Luke
Worth noting that's a conditional, not a forecast. Nothing confirms which way it breaks.
Mark
What do the picks have in common?
Mimi
All are buys, all cite breakouts, RSI strength or MACD crossovers, and each has a target and a stop-loss.
Luke
These are three analysts' opinions, and the source labels them as such. Technical signals describe past price action; they don't guarantee follow-through.
Mark
The Tata Elxsi call seems a notable reversal.
Mimi
Yes. Thakkar says his short-term view moved from sell to buy after the breakout and a drop in open interest that suggests short covering.
Luke
Short covering can fade quickly. He also names Rs 5,500 as a possible supply zone, so the upside he sees is limited.
Mark
What should a reader take from the stop-losses?
Mimi
That each analyst defined where the idea is wrong, for example Rs 460 on Varun Beverages.
Luke
And the article doesn't report how past calls fared, so there's no track record here to judge them by.
El Pulso
- The Nifty 50 slipped 0.3 percent, snapping a four-session winning streak and handing breadth to the sellers.
- Three brokerages and a research head are pushing buy calls on companies such as Varun Beverages, Havells, Tata Elxsi, REC, SAIL and Union Bank, each built on breakouts and momentum signals.
- Every recommendation is paired with a stop-loss, so the analysts are navigating risk through predefined exits rather than certainty.
- The market is expected to stay range-bound unless it breaks below Monday's high, and the outcome of January 6 will decide whether these setups gain traction or are cut short.
On a Monday in early January, Indian equities paused after a run of gains, with the Nifty 50 slipping 0.3 percent as sellers gained the upper hand across the National Stock Exchange. In the quiet that followed, several brokerage researchers turned their charts toward what might come next, offering short-term buy ideas on a handful of companies, each bounded by a clear entry, a target and a point at which the bet is abandoned. It is the familiar rhythm of markets, in which a pause invites both caution and conviction, and in which the analysts' own judgments, however carefully reasoned, will be tested only once the next session shows whether the index can hold its ground above Monday's high.
Indian markets stepped back on Monday, January 5, as the Nifty 50 dipped 0.3 percent, ending a three-session run of gains. On the National Stock Exchange, sellers outnumbered buyers, with 1,821 shares falling against 1,068 advancing. The mood going into the next session is cautious: analysts expect the market to drift sideways unless it falls below Monday's high.
Against that backdrop, several brokerage researchers have put forward short-term buy ideas, each with an entry range, a target and a stop-loss. Jigar Patel of Anand Rathi sees Varun Beverages breaking out of a trendline and triangle, with a target of Rs 550, and Havells clearing its RSI range and trendline, aiming for Rs 1,560. He also points to a double-bottom in IREDA, targeting Rs 162.
Jay Thakkar of ICICI Securities, who leads derivatives research, has moved Tata Elxsi from sell to buy after a falling trendline breakout and signs of short covering. He also likes Marico, where rising open interest suggests fresh long positions ahead of the results season, with targets of Rs 805 and Rs 820.
Vidnyan Sawant of GEPL Capital rounds out the list with UPL, REC, SAIL and Union Bank of India, each showing a technical pattern he reads as the start of a further move.
Every idea comes with a defined exit if it fails. How these trades unfold will depend largely on whether the market holds above Monday's high on January 6.
The Indian market took a small step back on Monday, January 5. The Nifty 50 slipped 0.3 percent, its first decline after three sessions of gains. Breadth on the National Stock Exchange favoured the sellers: 1,821 shares fell while 1,068 advanced.
The view on the next session, per the analysts quoted, is that the market may stay range-bound until it trades below Monday's high. Against that backdrop, three brokerage researchers put forward short-term trading ideas, all of them buys, each with an entry zone, a target and a stop-loss. These are the analysts' own views, and the publication's disclaimer says users should consult certified experts before acting.
Jigar S Patel of Anand Rathi offered three chart-based calls. Varun Beverages, at Rs 488.7, has broken out of a trendline and a triangle, which he reads as a resumption of the primary uptrend. Its RSI is near 55, the MACD has made a bullish crossover, and the stock closed above its quarterly volume-weighted average price. He suggests entering between Rs 490 and Rs 485, with a target of Rs 550 and a stop-loss at Rs 460.
Havells India, at Rs 1,451.4, has cleared both an RSI range and a price trendline, according to Patel. It has closed above its 10- and 20-day DEMA and reclaimed its monthly VWAP. His entry zone is Rs 1,455 to Rs 1,430, with a target of Rs 1,560 and a stop at Rs 1,375. For IREDA, at Rs 144.57, he points to a double-bottom pattern, bullish divergence and a close above the previous swing high. He suggests entering at Rs 145 to Rs 142, aiming for Rs 162 with a stop at Rs 135.
Jay Thakkar of ICICI Securities, who heads derivatives and quant research, focused on futures. Tata Elxsi, at Rs 5,363.5, broke out from a falling trendline while open interest in futures fell, a sign of short covering. Once an IT underperformer, it has moved his short-term view from sell to buy. After a sharp one-session rally and some profit booking, it tested its 20-day moving average and reversed. Put additions were heavy in the Rs 5,400 to Rs 5,200 strikes, and the highest Call base sits at Rs 5,500, which he flags as a possible supply zone. He suggests buying futures at Rs 5,350 to Rs 5,380, targeting Rs 5,520 and Rs 5,600, with a stop at Rs 5,200.
Marico, at Rs 773, broke out of a sideways consolidation as futures open interest rose, indicating long buildup. Thakkar cites a positive business update and a move above the Q2 results highs as reasons to expect better numbers in the coming results season. Puts were added from Rs 770 to Rs 730, and there is no major Call base until Rs 820. He suggests buying futures at Rs 775 to Rs 780, with targets of Rs 805 and Rs 820 and a stop at Rs 749.
Vidnyan S Sawant, head of research at GEPL Capital, listed four more. UPL, at Rs 805.1, has been in an uptrend since February 2024 and broke above a June 2021 resistance trendline on strong volumes, with RSI near 70; target Rs 861, stop Rs 772. REC, at Rs 381, broke out of a triangle formed since July 2024 and has a triple-bottom base; target Rs 408, stop Rs 365.
SAIL, at Rs 150.85, retraced a six-week decline in two weeks and sits above its 12- and 26-week EMAs, with RSI at 65; target Rs 163, stop Rs 145. Union Bank of India, at Rs 162.36, is forming a Cup and Handle pattern after a five-week consolidation, with RSI above 60 and volumes above the 20-day average; target Rs 174, stop Rs 156.
Every idea carries a defined exit if it fails. Whether the market holds above Monday's high will shape how these setups play out on January 6.
Citas Notables
The market may remain range-bound until it trades below Monday's high.— Moneycontrol market commentary
Tata Elxsi's short-term outlook has changed from sell to buy after a breakout from the falling trendline.— Jay Thakkar, ICICI Securities
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