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Trade Spotlight: How should you trade IDFC First Bank, Asian Paints, HDFC Life, Coal India, and others on Thursday?

Money Control · 25d

Stock Picks: 1. IDFC First Bank: The stock has broken out of an ending diagonal pattern on the daily charts and is expected to rise towards Rs 77–79 levels. A buy signal has been triggered by the daily momentum indicator, with a suggested stop-loss at Rs 71 for long positions. 2. Asian Paints: The stock has broken out from an Inverted Head and Shoulders pattern on the daily charts, signaling a trend reversal. Anticipating levels of Rs 4,350–4,400 in the short term, a positive bias is expected. A stop-loss of Rs 3,040 should be maintained for long positions. 3. Crompton Greaves Consumer Electricals: The stock is showing a strong bullish trend, forming higher highs and higher lows on the weekly chart. With a target of Rs 546, it is advisable to set a stop-loss at Rs 429 on a closing basis. 4. Hindustan Petroleum Corporation: The stock maintains a bullish trend across higher time frames, with a breakout from a W pattern on the weekly chart. Higher highs and higher lows confirm the upward trend. A target of Rs 476 is suggested, with a stop-loss at Rs 374 on a closing basis. 5. HDFC Life Insurance Company: The stock has established a strong price structure after breaking out of a falling channel. A breakout from a flag pattern signals robust momentum, with potential gains expected. A target of Rs 868 is proposed, with a stop-loss at Rs 665. 6. Coal India: The stock has sustained a bullish trend since 2020, consistently forming higher highs and higher lows. The RSI remains above 60, indicating strong bullish momentum. A target of Rs 622 is anticipated, with a stop-loss at Rs 485. 7. Titan Company: The stock has formed an Inverted Head & Shoulders pattern and broken out above the neckline. Further upside is expected, with a target of Rs 3,900-3,920 and a downside support zone at Rs 3,540-3,520. 8. Berger Paints: After a significant decline, the stock has formed a Double Bottom pattern and seen a strong recovery above the 200-day DEMA. A potential reversal is indicated, with a target of Rs 660-665 and a downside support zone of Rs 570-560. Disclaimer: The views and investment tips expressed by experts are their own. It is advisable to consult a certified financial advisor before making any investment decisions.