ICICI Bank, L&T, Jindal Steel: How to trade these 3 buzzing largecap stocks
An analyst from Master Capital Services said that ICICI Bank Ltd has taken support at its horizontal support band, which has previously acted as a strong support zone.
- Jan 30, 2026,
- Updated Jan 30, 2026 9:48 AM IST
Indian benchmark indices opened sharply lower on Friday on the back of weak global cues and higher crude oil prices ahead of the upcoming Union Budget. BSE Sensex tanked 625 points to settle at 81,941.03, while NSE's Nifty50 tumbled nearly 200 points, to 25,218.95 mark.
Select buzzing largecap stocks like Larsen & Toubro Ltd (L&T), ICICI Bank and Jindal Steel (formerly known as Jindal Steel & Power Ltd) are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say on them ahead of Friday's trading session:
Jindal Steel | Buy | Target Price: Rs 1,280 | Stop Loss: Rs 1,066
Jindal Steel has delivered a decisive breakout of over 18 months of consolidation, signaling the start of a strong structural uptrend. The stock is trading with robust bullish momentum, supported by a clear higher highs and higher lows formation. Price action at all-time highs reflects sustained buying interest and strong market confidence. Importantly, the stock is comfortably trading above all its key EMAs, confirming trend strength across short-, medium-, and long-term timeframes. The broader metal sector is also witnessing healthy momentum, providing a favorable tailwind.
Larsen & Toubro | Buy | Target Price: Rs 4,200-4,300 | Stop Loss: Rs 3,700
L&T has retested the previous breakout level, indicating healthy price behavior and confirmation of the earlier upside move. After this retest, price gave a closing above the 21-day EMA, signaling short-term strength and a possible resumption of the positive trend. A volume spike was seen in today’s session, highlighting strong participation and renewed buying interest at lower levels. The ability to hold above the breakout zone and reclaim the 21-day EMA improves the near-term outlook.
ICICI Bank | Buy | Target Price: Rs 1,500 | Stop Loss: Rs 1,310
ICICI Bank Ltd has taken support at its horizontal support band, which has previously acted as a strong support zone, reinforcing the medium-term structure. Prices have crossed above the 21-day and 55-day EMA, indicating improving momentum and a shift toward a positive bias. Strong volumes seen during the recent upmove suggest active participation and confirm buying interest at lower levels. A base appears to be formed near Rs 1,315, which now acts as a key reference point for the near term. As long as the stock holds above this base, the structure remains constructive, with scope for further upside towards Rs 1,500.
Indian benchmark indices opened sharply lower on Friday on the back of weak global cues and higher crude oil prices ahead of the upcoming Union Budget. BSE Sensex tanked 625 points to settle at 81,941.03, while NSE's Nifty50 tumbled nearly 200 points, to 25,218.95 mark.
Select buzzing largecap stocks like Larsen & Toubro Ltd (L&T), ICICI Bank and Jindal Steel (formerly known as Jindal Steel & Power Ltd) are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say on them ahead of Friday's trading session:
Jindal Steel | Buy | Target Price: Rs 1,280 | Stop Loss: Rs 1,066
Jindal Steel has delivered a decisive breakout of over 18 months of consolidation, signaling the start of a strong structural uptrend. The stock is trading with robust bullish momentum, supported by a clear higher highs and higher lows formation. Price action at all-time highs reflects sustained buying interest and strong market confidence. Importantly, the stock is comfortably trading above all its key EMAs, confirming trend strength across short-, medium-, and long-term timeframes. The broader metal sector is also witnessing healthy momentum, providing a favorable tailwind.
Larsen & Toubro | Buy | Target Price: Rs 4,200-4,300 | Stop Loss: Rs 3,700
L&T has retested the previous breakout level, indicating healthy price behavior and confirmation of the earlier upside move. After this retest, price gave a closing above the 21-day EMA, signaling short-term strength and a possible resumption of the positive trend. A volume spike was seen in today’s session, highlighting strong participation and renewed buying interest at lower levels. The ability to hold above the breakout zone and reclaim the 21-day EMA improves the near-term outlook.
ICICI Bank | Buy | Target Price: Rs 1,500 | Stop Loss: Rs 1,310
ICICI Bank Ltd has taken support at its horizontal support band, which has previously acted as a strong support zone, reinforcing the medium-term structure. Prices have crossed above the 21-day and 55-day EMA, indicating improving momentum and a shift toward a positive bias. Strong volumes seen during the recent upmove suggest active participation and confirm buying interest at lower levels. A base appears to be formed near Rs 1,315, which now acts as a key reference point for the near term. As long as the stock holds above this base, the structure remains constructive, with scope for further upside towards Rs 1,500.