ICICI Bank, Adani Total Gas, Canara Bank: Stocks to trade— Target prices, stop loss & more
SMIFS said that Adani Total Gas has witnessed a decisive breakout on the weekly charts after a prolonged consolidation phase, indicating the start of a fresh medium-term uptrend.
- Jul 16, 2026,
- Updated Jul 16, 2026 8:54 AM IST
Indian equity benchmark indices gave up early gains but managed to settle positively on Wednesday, thanks to supportive global cues. Softer US inflation data also supported the sentiments but traders are looking at geopolitical developments. The BSE Sensex gained 130.49 points, or 0.17 per cent, to close at 77,185.43, while NSE's Nifty50 rose 26.45 points, or 0.11 per cent, to end at 24,078.50 for the day.
Select buzzing stocks like ICICI Bank, Canara Bank and Adani Total Gas Ltd (ATGL) are likely to remain under the spotlight of traders for the session today. Here is what a host of brokerage firms have to say on them ahead of Thursday's trading session:
Adani Total Gas | Buy | Target Price: Rs 950 | Stop Loss: Rs 640 Adani Total Gas has witnessed a decisive breakout on the weekly charts after a prolonged consolidation phase, indicating the start of a fresh medium-term uptrend. The stock has been sustaining above key moving averages while forming a pattern of higher highs and higher lows, supported by improving trading volumes. Despite the recent rally across Adani Group stocks, ATGL has relatively underperformed, leaving room for a catch-up move. Technical analysts suggest accumulating the stock at current levels, with the bullish structure expected to remain intact as long as it holds above the Rs 640 level on a closing basis. Over the next six months, the stock could potentially move towards the Rs 950 mark if the positive momentum continues.
Recommended by: SMIFS
ICICI Bank | Buy | Target Price: Rs 1,488-1,543 | Stop Loss: Rs 1,336 The chart of ICICI Bank is showing a long-term bullish trendline breakout. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. The stock is sustaining above the key Rs 1,432 breakout zone, and if this level holds on a closing basis, the next major resistance is likely around Rs 1,488, which also coincides with previous swing highs and psychological resistance. RSI is near the bullish zone around 61, reflecting strong momentum, although overheated in the short term. Volume expansion during the breakout phase adds credibility to the move. On sustaining above Rs 1,488 can keep the momentum intact towards Rs 1,543 and potentially higher levels, while immediate support now shifts to Rs 1,387. We recommend to buy with short-term targets of Rs 1,488-1,543, and keep a stop-loss at Rs 1,336.
Recommended by: Canara Bank Securities
Canara Bank | Buy | Target Price: Rs 142| Stop Loss: Rs 118 Canara Bank has undergone a healthy correction from its recent highs and is retesting the earlier breakout zone around Rs 122–125, indicating that the pullback is likely a breakout retest rather than the start of a fresh downtrend. Price action on the weekly chart is showing signs of a potential hammer formation near support, reflecting buying interest emerging at lower levels. It continues to trade above its key long-term moving averages, suggesting the broader trend remains positive. Volumes have remained relatively subdued during the correction, pointing towards profit booking rather than aggressive distribution. RSI is stabilizing around neutral territory, while MACD is showing signs of bottoming out, indicating that bearish momentum is fading. As long as price sustains above Rs 118 on a weekly closing basis, the setup favors an upside move towards Rs 142. A weekly close below Rs 118 would invalidate the bullish structure and turn the outlook cautious.
Recommended by: SMIFS
Indian equity benchmark indices gave up early gains but managed to settle positively on Wednesday, thanks to supportive global cues. Softer US inflation data also supported the sentiments but traders are looking at geopolitical developments. The BSE Sensex gained 130.49 points, or 0.17 per cent, to close at 77,185.43, while NSE's Nifty50 rose 26.45 points, or 0.11 per cent, to end at 24,078.50 for the day.
Select buzzing stocks like ICICI Bank, Canara Bank and Adani Total Gas Ltd (ATGL) are likely to remain under the spotlight of traders for the session today. Here is what a host of brokerage firms have to say on them ahead of Thursday's trading session:
Adani Total Gas | Buy | Target Price: Rs 950 | Stop Loss: Rs 640 Adani Total Gas has witnessed a decisive breakout on the weekly charts after a prolonged consolidation phase, indicating the start of a fresh medium-term uptrend. The stock has been sustaining above key moving averages while forming a pattern of higher highs and higher lows, supported by improving trading volumes. Despite the recent rally across Adani Group stocks, ATGL has relatively underperformed, leaving room for a catch-up move. Technical analysts suggest accumulating the stock at current levels, with the bullish structure expected to remain intact as long as it holds above the Rs 640 level on a closing basis. Over the next six months, the stock could potentially move towards the Rs 950 mark if the positive momentum continues.
Recommended by: SMIFS
ICICI Bank | Buy | Target Price: Rs 1,488-1,543 | Stop Loss: Rs 1,336 The chart of ICICI Bank is showing a long-term bullish trendline breakout. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. The stock is sustaining above the key Rs 1,432 breakout zone, and if this level holds on a closing basis, the next major resistance is likely around Rs 1,488, which also coincides with previous swing highs and psychological resistance. RSI is near the bullish zone around 61, reflecting strong momentum, although overheated in the short term. Volume expansion during the breakout phase adds credibility to the move. On sustaining above Rs 1,488 can keep the momentum intact towards Rs 1,543 and potentially higher levels, while immediate support now shifts to Rs 1,387. We recommend to buy with short-term targets of Rs 1,488-1,543, and keep a stop-loss at Rs 1,336.
Recommended by: Canara Bank Securities
Canara Bank | Buy | Target Price: Rs 142| Stop Loss: Rs 118 Canara Bank has undergone a healthy correction from its recent highs and is retesting the earlier breakout zone around Rs 122–125, indicating that the pullback is likely a breakout retest rather than the start of a fresh downtrend. Price action on the weekly chart is showing signs of a potential hammer formation near support, reflecting buying interest emerging at lower levels. It continues to trade above its key long-term moving averages, suggesting the broader trend remains positive. Volumes have remained relatively subdued during the correction, pointing towards profit booking rather than aggressive distribution. RSI is stabilizing around neutral territory, while MACD is showing signs of bottoming out, indicating that bearish momentum is fading. As long as price sustains above Rs 118 on a weekly closing basis, the setup favors an upside move towards Rs 142. A weekly close below Rs 118 would invalidate the bullish structure and turn the outlook cautious.
Recommended by: SMIFS