Stocks to buy today by Geojit Investments
HONASA
Last close: ₹446
View: Buy
Target: ₹480
SL: ₹427
Honasa is exhibiting a strong bullish setup on the daily chart, supported by both price action and momentum indicators. The stock has delivered a decisive Bullish Marubozu, signaling aggressive buying interest with minimal intraday selling pressure, often a precursor to short-term continuation.
Crucially, price has broken out of a horizontal resistance zone around ₹435-445, indicating a shift from consolidation to expansion. This breakout is accompanied by improving volumes, adding credibility to the move. The structure now reflects higher highs and higher lows, reinforcing an emerging uptrend.
Momentum indicators further validate the bullish bias. The MACD has delivered a fresh bullish crossover, with histogram expansion pointing to strengthening upward momentum. RSI is trending higher and holding above the mid-zone, suggesting sustained buying strength without being excessively overbought.
As long as the stock holds above the breakout zone of ₹435, the setup remains constructive. The next immediate technical objective lies at ₹480, which aligns with overhead resistance levels visible on the chart. Protect longs with stoploss placed below ₹427.
MSTC
Last close: ₹690
View: Buy
Target: ₹790
SL: ₹650
MSTC Ltd is displaying a strong bullish continuation setup on the daily timeframe, supported by both structure and momentum. The stock has confirmed a flag breakout following a sharp impulsive rally, indicating trend continuation after a healthy consolidation phase.
The breakout is backed by strong price acceptance above the recent consolidation zone of 640-660, suggesting that the prior resistance has flipped into a support base. Importantly, the recent weekly range breakout remains intact, reinforcing the higher-timeframe bullish bias and increasing the probability of sustained upside.
Momentum indicators are firmly supportive. The RSI is holding in a strong zone above 60, reflecting persistent buying strength without showing signs of immediate exhaustion. Volume expansion during the rally phase adds further conviction, suggesting institutional participation in the move. The price structure continues to form higher highs while consolidations are shallow, a classic trait of a strong uptrend.
As long as the price sustains above the support zone near 650, the breakout structure remains valid. The next leg of the move could push the stock towards the 790, aligning with the measured move of the flag pattern. All longs may be protected with stoploss placed below 650.
LLOYDSME
Last close: ₹1,805
View: Buy
Target: ₹1,920-₹2,000
SL: ₹1,700
Lloyds Metals & Energy is shaping up for a strong bullish move, backed by a confluence of pattern breakout and improving momentum. The stock has broken out of a well-defined symmetrical triangle, signaling the end of a consolidation phase and the potential resumption of the broader uptrend.
Price is now trading near the upper boundary with constructive price action, indicating accumulation at higher levels rather than distribution. The breakout gains further credibility as it is supported by a multi-week volume expansion, reflecting strong participation and conviction behind the move.
Momentum indicators are aligning with the bullish bias. The stock is approaching a Supertrend buy signal, which, if triggered, could act as an additional confirmation of trend continuation. Simultaneously, the MACD is on the verge of a bullish crossover, suggesting a shift from corrective to impulsive momentum.
RSI is stabilizing and turning higher from mid-levels, indicating a gradual build-up in buying strength without entering overbought territory. This leaves room for a sustained upmove.
As long as the stock holds above the triangle breakout region, the structure remains favorable for upside. The next leg could take the price toward the 1920-2000 zone, in line with the measured breakout projection and overhead resistance levels. Protect longs with stoploss placed below 1700 level.
(Disclaimer: This article is by Anand James, chief market strategist, Geojit Investments. View expressed are his own. Click here for analyst disclosures)