Canara Bank, NMDC, Deepak Fertilizers: How to trade these 3 buzzing stocks
Axis Securities said that Canara Bank has confirmed a 'multiple resistance' breakout at Rs 119 levels on the daily charts, which shows a resumption of the prior uptrend.
- Sep 24, 2025,
- Updated Sep 24, 2025 7:40 AM IST
Indian benchmark indices settled lower on Tuesday, extending the phase of consolidation. Trader sentiments remained cautious with profit booking in broader markets amid the weakening rupee and consistent FII outflows. BSE Sensex shed 57.87 points, or 0.07 per cent, to settle at 82,102.10, while NSE's Nifty50 declined 32.85 points, or 0.13 per cent, to close at 25,169.50 for the day.
Select buzzing stocks including Canara Bank, Deepak Fertilisers & Petrochemicals Corporation and NMDC 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 about these stocks ahead of Wednesday's trading session:
Deepak Fertilisers & Petrochemicals Corporation | Buy | Target Price: Rs 1,650 | Stop Loss: Rs 1,440
Deepak Fertilisers has confirmed a past three-month 'down-sloping' trendline breakout at Rs 1,485 levels on a closing basis on the daily charts. This breakout is accompanied by huge volumes, which signifies increased participation. On the weekly chart, the stock is well placed above its 30-week SMA (Rs 1,378), which reconfirms bullish sentiments. The daily 'band Bollinger' buy signal indicates increased momentum. The daily and weekly strength indicator RSI is in positive terrain, which reconfirms sustained strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 1,650-1,700, and its downside support zone is the Rs 1,480-1,430 levels.
NMDC | Buy | Target Price: Rs 88 | Stop Loss: Rs 72
NMDC is trending higher, forming a series of higher tops and bottoms on the daily and weekly charts, which shows a strong uptrend. On the weekly chart, the stock is on the verge of a 'rounded bottom' formation breakout at Rs 78 levels. The stock is sustaining above its 20, 50, 100 and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicator RSI is in positive terrain, which reconfirms sustained strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 85-93, and its downside support zone is the Rs 76-75 levels.
Canara Bank | Buy | Target Price: Rs 135 | Stop Loss: Rs 116
Canara Bank has confirmed a 'multiple resistance' breakout at Rs 119 levels on the daily charts, which shows a resumption of the prior uptrend. The past couple of weeks' rising volumes indicate increased participation. On the weekly chart, the stock is on the verge of a breakout of a 'cup & Handle' formation, which shows sustained strength. The stock is sustaining above its 20, 50, 100 and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicator RSI is in positive terrain, which reconfirms sustained strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 130-145, and its downside support zone is the Rs 119-115 levels.
Indian benchmark indices settled lower on Tuesday, extending the phase of consolidation. Trader sentiments remained cautious with profit booking in broader markets amid the weakening rupee and consistent FII outflows. BSE Sensex shed 57.87 points, or 0.07 per cent, to settle at 82,102.10, while NSE's Nifty50 declined 32.85 points, or 0.13 per cent, to close at 25,169.50 for the day.
Select buzzing stocks including Canara Bank, Deepak Fertilisers & Petrochemicals Corporation and NMDC 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 about these stocks ahead of Wednesday's trading session:
Deepak Fertilisers & Petrochemicals Corporation | Buy | Target Price: Rs 1,650 | Stop Loss: Rs 1,440
Deepak Fertilisers has confirmed a past three-month 'down-sloping' trendline breakout at Rs 1,485 levels on a closing basis on the daily charts. This breakout is accompanied by huge volumes, which signifies increased participation. On the weekly chart, the stock is well placed above its 30-week SMA (Rs 1,378), which reconfirms bullish sentiments. The daily 'band Bollinger' buy signal indicates increased momentum. The daily and weekly strength indicator RSI is in positive terrain, which reconfirms sustained strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 1,650-1,700, and its downside support zone is the Rs 1,480-1,430 levels.
NMDC | Buy | Target Price: Rs 88 | Stop Loss: Rs 72
NMDC is trending higher, forming a series of higher tops and bottoms on the daily and weekly charts, which shows a strong uptrend. On the weekly chart, the stock is on the verge of a 'rounded bottom' formation breakout at Rs 78 levels. The stock is sustaining above its 20, 50, 100 and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicator RSI is in positive terrain, which reconfirms sustained strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 85-93, and its downside support zone is the Rs 76-75 levels.
Canara Bank | Buy | Target Price: Rs 135 | Stop Loss: Rs 116
Canara Bank has confirmed a 'multiple resistance' breakout at Rs 119 levels on the daily charts, which shows a resumption of the prior uptrend. The past couple of weeks' rising volumes indicate increased participation. On the weekly chart, the stock is on the verge of a breakout of a 'cup & Handle' formation, which shows sustained strength. The stock is sustaining above its 20, 50, 100 and 200-day SMAs, and these averages are also inching up along with the price rise, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicator RSI is in positive terrain, which reconfirms sustained strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 130-145, and its downside support zone is the Rs 119-115 levels.