On February 18, the Nifty 50 closed higher for a third straight session, a modest gain of 0.37 percent that was carried by broad participation as advancing shares outnumbered decliners. In that calm, two technical analysts from LKP Securities and SBI Securities each offered three short-term buy ideas, reading charts for signs that recent strength might carry further. Their calls rest on familiar tools of the trade, such as breakouts, moving-average reclaims and rising momentum readings, and each comes with a target and a stop-loss that marks where the view would be proven wrong. Whether these
Trade Spotlight: Analysts Flag Buy Calls on Techno Electric, Elgi, Bank of Maharashtra, Indian Bank, Tata Steel and IOC
Former resistance has acted as support
Mark
Why do these six calls matter as a group?
Mimi
They share a pattern. Breakouts, reclaimed moving averages, and rising RSI show up across all six, and each call states exactly where it would be wrong.
Mark
Where would it be wrong?
Mimi
Techno Electric below Rs 1,100, Tata Steel below Rs 203, Indian Bank below Rs 900, IOC below Rs 170. Those stop-losses are the real boundaries.
Luke
Worth saying these are two analysts' opinions, not outcomes. Nothing here confirms any target will be reached.
Mark
And the market itself?
Mimi
Three straight gains, with 1,586 advancers to 1,331 decliners. That's decent breadth, though not overwhelming.
Luke
The source also says the market must hold above a downward-sloping trendline for further upside. So the backdrop is conditional, not settled.
Mark
Is there a theme beyond the individual stocks?
Mimi
Shah points to PSU banks outperforming the Nifty, which ties Indian Bank to a wider trend.
Luke
Only through his ratio chart, though. The piece doesn't say how long that outperformance has lasted, and no timeframe is given for the targets beyond "short term."
Der Puls
- The Nifty 50 has rallied three sessions running, but it still has to clear a downward-sloping trendline before the upmove can be trusted.
- Advances beat declines 1,586 to 1,331 on the NSE, a breadth reading that gives the rally some quiet momentum behind it.
- Six buy calls from two analysts are being put forward, each relying on breakouts, moving-average reclaims and rising RSI readings.
- Stocks such as Techno Electric, Elgi, Bank of Maharashtra, Indian Bank, Tata Steel and IOC are being watched against defined targets and stop-losses.
- Every setup hinges on a support line, with Techno Electric at Rs 1,100 and Tata Steel at Rs 203 acting as the lines a close below would undo.
On February 18, the Nifty 50 closed higher for a third straight session, a modest gain of 0.37 percent that was carried by broad participation as advancing shares outnumbered decliners. In that calm, two technical analysts from LKP Securities and SBI Securities each offered three short-term buy ideas, reading charts for signs that recent strength might carry further. Their calls rest on familiar tools of the trade, such as breakouts, moving-average reclaims and rising momentum readings, and each comes with a target and a stop-loss that marks where the view would be proven wrong. Whether these setups hold will depend on whether the market can climb above the downward-sloping trendline that still stands in its way.
The Nifty 50 closed higher on February 18 for the third session in a row, rising 0.37 percent. Breadth backed the move, with 1,586 shares advancing against 1,331 declining on the NSE. Still, the market has to hold above a downward-sloping trendline before the rise can be called a genuine upmove.
Into that picture, two analysts offered six short-term buy ideas. Rupak De of LKP Securities gave three, and Sudeep Shah of SBI Securities gave the other three. Each pick arrives with a target and a stop-loss.
De's calls begin with Techno Electric & Engineering, which he sees showing early signs of structural change after a steep fall, with support at Rs 1,100 and a target of Rs 1,240. Elgi Equipments, which has broken out of consolidation and reclaimed its 200 DMA, targets Rs 580 with a stop at Rs 520. Bank of Maharashtra, in a steady uptrend with dips bought consistently, targets Rs 74 with a stop at Rs 67.
Shah's picks start with Tata Steel, which broke out of a tight consolidation on heavy volume and is targeted at Rs 225, with a stop at Rs 203. Indian Bank has broken a downward trendline, and with PSU banks outperforming the Nifty he aims for Rs 1,005, stopping out below Rs 900. His final call, Indian Oil, has held former resistance as support after a retest, with a target of Rs 195 and a stop at Rs 170.
The levels to watch are the stop-losses, since a break through them would unravel these views. Moneycontrol notes that the opinions belong to the analysts, not the site, and readers are advised to consult certified advisers before acting.
The Nifty 50 closed higher on February 18 for the third session in a row, gaining 0.37 percent. Breadth supported the move: on the NSE, 1,586 shares advanced while 1,331 declined. The source frames the next step plainly. For a further upmove, the market needs to hold above a downward-sloping trendline.
Against that backdrop, two technical analysts put forward six short-term buy ideas. Rupak De, Senior Technical Analyst at LKP Securities, offered three. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, offered the other three. Each call comes with a target and a stop-loss.
De's first pick is Techno Electric & Engineering Company, at Rs 1,151.7. After a major decline, he sees early signs of a structural change. The stock has risen above its 21 EMA and 55 EMA on the daily chart, and the RSI is trending upward. He sees a move toward Rs 1,240, with support at Rs 1,100. A close below that level would weaken the outlook.
Elgi Equipments, at Rs 537.25, is his second. It broke out of a consolidation on the daily chart after several days of congestion and has reclaimed its 200 DMA. The RSI is rising. De's target is Rs 580, with a stop-loss at Rs 520. A break below that, he says, would weaken the rally.
His third is Bank of Maharashtra, at Rs 69. He describes a steady uptrend after a multi-timeframe breakout, with dips bought consistently over recent weeks. The stock trades comfortably above its 20 DMA, and volumes expanded significantly during the recent upmove. The target is Rs 74 and the stop-loss is Rs 67.
Shah's calls begin with Tata Steel, at Rs 209. It has broken out of a three-session consolidation band of Rs 207 to 201 on a clear spike in volumes. It trades above its key short- and long-term moving averages. The RSI dipped briefly below 60 and has rebounded to near 65, and DI+ sits well above DI- on the ADX. He recommends accumulating in the Rs 210 to 208 zone with a stop-loss of Rs 203, aiming for Rs 225.
Indian Bank, at Rs 938.15, has broken a downward trendline on the daily chart. Shah notes that PSU banks continue to outperform the Nifty, as shown by a rising line on the PSU Bank/Nifty ratio chart. The RSI is rising, DI+ has crossed above DI-, and the MACD is above both its signal line and zero line. A close above the upper Bollinger Band adds to the case. He suggests accumulating at Rs 940 to 930, with a stop-loss of Rs 900 and a target of Rs 1,005.
His last call is Indian Oil Corporation, at Rs 178.74. The stock broke above its prior swing-high zone of Rs 173 to 175 on February 5, then retested it. Buyers stepped in strongly there, so former resistance has acted as support. The ADX is rising, the stock sits above its key moving averages, and the RSI, which fell from 75, has held above 60 and turned higher. Shah recommends accumulating at Rs 180 to 177 with a stop-loss of Rs 170, targeting Rs 195.
The levels to watch are the stop-losses, such as Rs 1,100 for Techno Electric and Rs 203 for Tata Steel. Moneycontrol notes that these views belong to the experts, not the site, and advises checking with certified advisers before investing.
Bemerkenswerte Zitate
A close below Rs 1,100 could weaken the price outlook for Techno Electric.— Rupak De, LKP Securities
Accumulate Indian Bank in the Rs 940–930 zone with a stop-loss of Rs 900, targeting Rs 1,005.— Sudeep Shah, SBI Securities
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