Canara Bank, Bajaj Auto, SAIL: How to trade these 3 buzzing stocks
Axis Securities said that Canara Bank is in a strong multi-timeframe uptrend, marked by a consistent higher-high, higher-low structure and it has decisively broken to a new 52-week high.
- Dec 31, 2025,
- Updated Dec 31, 2025 7:49 AM IST
Indian benchmark indices ended flat on Tuesday amid monthly expiry of December series, despite the supportive global cues as FIIs outflows dented the sentiments ahead of new year. BSE Sensex fell only 20.46 points, or 0.02 per cent, to settle at 84,675.08, while NSE's Nifty50 shed merely 3.25 points, or 0.01 per cent, to close at 25,938.85 for the day.
Select buzzing stocks including Bajaj Auto, Steel Authority of India Ltd (SAIL) and Canara Bank are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Research at Axis Securities has to say on them ahead of Wednesday's trading session:
Canara Bank | Buy | Target Price: Rs 170-182 | Stop Loss: Rs 146
Canara Bank is in a strong multi-timeframe uptrend, marked by a consistent higher-high, higher-low structure. It has decisively broken to a new 52-week high at Rs 154.35, surpassing the earlier resistance zone of Rs 150–151 on a closing basis. The breakout is well supported by strong volume, signalling robust participation and sustained bullish conviction. Price remains comfortably above the 20, 50, 100 and 200-day SMAs, while the RSI reflects strong momentum with no immediate signs of exhaustion. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 182–170, and its downside support zone is the Rs 148–145 levels.
Bajaj Auto | Buy | Target Price: Rs 9,500-9,900 | Stop Loss: Rs 8,900
Bajaj Auto Ltd has decisively crossed its immediate resistance at Rs 9,208 on a closing basis, indicating trend continuation. Price is firmly placed above all key moving averages (20/50/100/200-DMA), which are rising in tandem, reinforcing the strength of the medium-term bullish trend. Momentum indicators remain supportive, with the daily RSI (14) in positive territory and breaking above its downward-sloping trendline, validating the price breakout. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 9,500–9,900, and its downside support zone is the Rs 9,000–8,800 levels.
Steel Authority of India | Buy | Target Price: Rs 150-160 | Stop Loss: Rs 130
SAIL is exhibiting a textbook channel-support rebound on the weekly timeframes. After a consolidation phase, prices have successfully defended the lower band of the rising channel, confirming strong demand and the continuation of the primary uptrend. The move is accompanied by improved volume activity, indicating renewed participation, while the weekly RSI crossing above its reference line generates a fresh bullish signal. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 150–160, and its downside support zone is the Rs 135–130 levels.
Indian benchmark indices ended flat on Tuesday amid monthly expiry of December series, despite the supportive global cues as FIIs outflows dented the sentiments ahead of new year. BSE Sensex fell only 20.46 points, or 0.02 per cent, to settle at 84,675.08, while NSE's Nifty50 shed merely 3.25 points, or 0.01 per cent, to close at 25,938.85 for the day.
Select buzzing stocks including Bajaj Auto, Steel Authority of India Ltd (SAIL) and Canara Bank are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Research at Axis Securities has to say on them ahead of Wednesday's trading session:
Canara Bank | Buy | Target Price: Rs 170-182 | Stop Loss: Rs 146
Canara Bank is in a strong multi-timeframe uptrend, marked by a consistent higher-high, higher-low structure. It has decisively broken to a new 52-week high at Rs 154.35, surpassing the earlier resistance zone of Rs 150–151 on a closing basis. The breakout is well supported by strong volume, signalling robust participation and sustained bullish conviction. Price remains comfortably above the 20, 50, 100 and 200-day SMAs, while the RSI reflects strong momentum with no immediate signs of exhaustion. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 182–170, and its downside support zone is the Rs 148–145 levels.
Bajaj Auto | Buy | Target Price: Rs 9,500-9,900 | Stop Loss: Rs 8,900
Bajaj Auto Ltd has decisively crossed its immediate resistance at Rs 9,208 on a closing basis, indicating trend continuation. Price is firmly placed above all key moving averages (20/50/100/200-DMA), which are rising in tandem, reinforcing the strength of the medium-term bullish trend. Momentum indicators remain supportive, with the daily RSI (14) in positive territory and breaking above its downward-sloping trendline, validating the price breakout. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 9,500–9,900, and its downside support zone is the Rs 9,000–8,800 levels.
Steel Authority of India | Buy | Target Price: Rs 150-160 | Stop Loss: Rs 130
SAIL is exhibiting a textbook channel-support rebound on the weekly timeframes. After a consolidation phase, prices have successfully defended the lower band of the rising channel, confirming strong demand and the continuation of the primary uptrend. The move is accompanied by improved volume activity, indicating renewed participation, while the weekly RSI crossing above its reference line generates a fresh bullish signal. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 150–160, and its downside support zone is the Rs 135–130 levels.