On a day when India's equity benchmarks slipped for a second straight session, market watchers turned their attention from the broad mood to individual charts, looking for the small signals that might hint at where prices head next. Three technical analysts offered eight short-term trade ideas, seven to buy and one to sell, all drawn from patterns and momentum readings rather than from the health of the companies themselves. Their calls rest on the belief that the market, having drifted within a narrow weekly band, will remain stuck there until something decisive breaks it. Whether these bets
Trade Spotlight: Analysts Flag Buy and Sell Calls on Hindustan Zinc, PNB, Tata Steel, MCX and Others
Seven buys, one sell, and a market stuck inside its weekly range
Mark
Eight calls in one piece. What's the common thread?
Mimi
Momentum. Most picks are breakouts or strong trends: Hindustan Zinc, PNB, Tata Steel, MCX. Laurus and KEI are rebound trades after dips.
Mark
And the market itself was weak that day.
Mimi
Down about a third of a percent for a second session, with 1,498 decliners against 1,385 gainers on the NSE. The analysts still see pockets of strength, especially metals and PSU banks.
Luke
Worth saying these are chart-based opinions, not forecasts. Targets like Rs 700 or Rs 140 are one analyst's view, and nothing in the piece shows how often such calls work.
Mark
Why does every call come with a stop-loss?
Mimi
It defines where the idea is wrong. Polycab's sell call, for example, is invalidated above Rs 7,560.
Luke
Right, and the stop-losses are the most honest part. They admit the call can fail.
Mark
Anything the piece doesn't tell us?
Luke
Time horizons beyond 'near term', and any fundamentals. Also the disclaimer: the views are the experts' own, and readers are told to consult certified advisers.
Mimi
So the thing to watch is whether the breakout levels hold and whether the market leaves its weekly range.
Der Puls
- Benchmarks slid about a third of a percent on January 14, extending a two-session fall while selling pressure spread across the NSE.
- Breadth leaned negative but not sharply, with 1,498 stocks under pressure against 1,385 advancing, leaving the market caught between hesitation and hope.
- Analysts expect the index to stay range-bound until it breaks the current week's high-low band, so every breakout now is a test of nerve.
- Punjab National Bank and Tata Steel have pushed to fresh highs on heavier volume, and traders are watching whether those breakout levels hold.
- Polycab India stands on the edge of a broken trendline, with a possible slide toward Rs 6,800 if support near Rs 7,250 gives way.
- Each call carries a tight stop-loss, and the advice remains technical, leaving the final decision to readers and certified experts.
On a day when India's equity benchmarks slipped for a second straight session, market watchers turned their attention from the broad mood to individual charts, looking for the small signals that might hint at where prices head next. Three technical analysts offered eight short-term trade ideas, seven to buy and one to sell, all drawn from patterns and momentum readings rather than from the health of the companies themselves. Their calls rest on the belief that the market, having drifted within a narrow weekly band, will remain stuck there until something decisive breaks it. Whether these bets prove wise will depend on whether the early breakouts can hold in a market that has not yet chosen a direction.
On January 14, Indian equity benchmarks slipped by about a third of a percent, their second consecutive loss. The fall was not a rout. On the NSE, 1,498 shares were under selling pressure while 1,385 advanced, a market leaning cautious rather than frightened. The working expectation was that trading would stay confined to the current week's high-low range until someone broke it with conviction.
Into that uncertainty stepped three technical analysts with eight short-term ideas, seven buys and one sell. Their reasoning lived entirely on the charts, in patterns, moving averages and momentum gauges, with no reference to balance sheets or business prospects.
Nilesh Jain of Centrum Broking backed Hindustan Zinc and Punjab National Bank, both having broken out on strong volume and showing bullish momentum, with targets of Rs 700 and Rs 140. His single bearish view was Polycab India, which had formed lower highs and lower lows and sat on the verge of breaking a rising trendline. Sudeep Shah of SBI Securities saw strength in metals and public sector banks, recommending Tata Steel, Bank of India and Multi Commodity Exchange of India, each supported by strong trend readings. Rupak De of LKP Securities offered two rebound trades in Laurus Labs and KEI Industries, both built on reversal candlestick patterns.
The analysts' views are their own, and Moneycontrol urges readers to consult certified experts before acting. The question to watch is simple: whether these breakouts survive, and whether the broader market finally escapes its weekly range.
On January 14, Indian equity benchmarks slid by about a third of a percent, their second straight session of losses. Breadth on the NSE leaned negative but not dramatically: 1,498 shares came under selling pressure, while 1,385 advanced. The expectation heading into the next session was a market that stays range-bound until it decisively breaks the high-low range of the current week.
Against that backdrop, three technical analysts offered short-term trade ideas, eight stocks in all, seven of them buys and one a sell. The calls are chart-based, built on patterns, moving averages and momentum indicators, not on company fundamentals.
Nilesh Jain of Centrum Broking leads with Hindustan Zinc, at Rs 654.2. He describes a stock in a strong uptrend, making higher tops and higher bottoms and trading well above its short- and long-term moving averages. After a couple of weeks of consolidation, it broke out on higher-than-average volumes, and derivatives data showed fresh long positions. His call is to buy, with a target of Rs 700 and a stop-loss at Rs 621. He also likes Punjab National Bank at Rs 128.68, which broke out of an ascending triangle on the daily chart, cleared double-top resistance and closed at a 52-week high on significantly higher volumes. The RSI has moved above 65 and the MACD has produced a bullish crossover. Target is Rs 140, stop-loss Rs 123.
Jain's one bearish call is Polycab India, at Rs 7,323.5. The stock earlier formed a double top, has since printed lower highs and lower lows, and has slipped below its key short-term moving averages. It sits on the verge of breaking a rising trendline, with support near Rs 7,250. A decisive break could pull it toward Rs 6,800, and fresh short build-up in derivatives supports that view. The bearish case fails only if the stock sustains a move above Rs 7,560, which is his stop-loss.
Sudeep Shah of SBI Securities focuses on strength in metals and public sector banks. The Nifty Metal index has outperformed the frontline indices for several sessions, and Tata Steel, at Rs 189.25, has broken out of a Cup and Handle pattern on robust volumes and is at an all-time high. Daily and weekly RSI are in what he calls the super-bullish zone. He advises accumulating in the Rs 190–188 zone, with a target of Rs 205 and a stop-loss at Rs 182.
On Wednesday the Nifty PSU Bank index hit a fresh all-time high after taking support near its 20-day EMA. Shah's pick there is Bank of India, at Rs 152.87, which found support at Rs 143–142, where the 34-day EMA meets the 61.8% Fibonacci retracement of its prior rally. It rebounded sharply on higher volumes and now trades above all key moving averages. He suggests accumulating at Rs 153–151, targeting Rs 163 with a stop-loss at Rs 147. His third call is Multi Commodity Exchange of India, at Rs 2,417, a consistent outperformer in a series of higher highs and higher lows. Its ADX reads 36.79 daily and 39.43 weekly, both well above the 25 threshold that signals a strong trend. He suggests accumulating at Rs 2,420–2,400, with a target of Rs 2,590 and a stop-loss at Rs 2,330.
Rupak De of LKP Securities offers two rebound trades. Laurus Labs, at Rs 1,090.5, has risen for two sessions after a tweezers bottom reversal pattern, with its higher-top higher-bottom structure intact and RSI in a bullish crossover. He sets a target of Rs 1,160 and a stop-loss below Rs 1,060. KEI Industries, at Rs 4,384.6, formed a bullish engulfing pattern after a correction and has moved above its 20 EMA. His target is Rs 4,700, with a stop-loss at Rs 4,270.
The views are the analysts' own, and Moneycontrol advises readers to consult certified experts before acting. The thing to watch is whether the breakouts in names like Punjab National Bank and Tata Steel hold, and whether the broader market escapes its weekly range.
Bemerkenswerte Zitate
The market may remain range-bound until it decisively breaks the current week's high-low range.— Moneycontrol trade spotlight
Tata Steel has delivered a significant technical breakout, forming a Cup and Handle pattern, validated by robust volumes.— Sudeep Shah, SBI Securities (paraphrased)
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