Stocks to buy today by Kunal Kamble of Bonanza
Asian Paints
Asian Paints has staged a strong recovery after finding support near the 2,150–2,200 zone, indicating renewed buying interest at lower levels. Price action has moved above key short-term moving averages and is gradually approaching a crucial breakout zone near 2,560–2,600.
Sustained trading above the medium- and long-term moving averages reflects improving trend strength and a positive shift in momentum. The recent formation of higher highs and higher lows suggests bullish continuation, while rising volumes support accumulation. Additionally, RSI sustaining above the 60 mark highlights healthy momentum and strengthening participation.
Buy range: ₹2,620
Stop-loss: ₹2,432
Target: ₹3,000
Jana Small Finance Bank
Jana Small Finance Bank has shown signs of a strong trend reversal after forming a stable base near the ₹350–370 zone, indicating accumulation at lower levels. Price action has decisively moved above key moving averages, while short-term EMAs are crossing above long-term averages, reflecting improving momentum and bullish sentiment.
The breakout above the falling trendline resistance near ₹470–480 suggests the beginning of a fresh upward move. Rising volumes during the breakout further support buying interest and strengthen the positive outlook. Additionally, RSI sustaining above 60 highlights healthy momentum.
Buy range: ₹486
Stop-loss: ₹440
Target: ₹566
Tata Steel
Tata Steel has maintained a strong uptrend by consistently forming higher highs and higher lows, indicating sustained bullish momentum. Price action is trading firmly above key moving averages, with short-term EMAs positioned above long-term averages, reflecting strength across multiple time frames.
The recent breakout above the ₹215–216 resistance zone, supported by strong volumes, suggests continuation of the prevailing upward trend. Additionally, the rising trendline support near ₹185 reinforces the positive structure and provides a strong demand base on declines. RSI holding above the 60 mark highlights healthy momentum and buying interest. Sustaining above breakout levels could drive further upside in the near term.
Buy range: ₹220
Stop-loss: ₹203
Target: ₹253
(Disclaimer: This article is by Kunal Kamble, sr. technical research Analyst at Bonanza. Views expressed are his own.)