Indian Hotels, Max Healthcare, Bajaj Finance among top largecap picks; check targets

Amid the rising volatility in the Indian stock markets, domestic brokerage firm Canara Bank Securities has suggested four largecap stocks to trade based on the sound charts and strong technical parameters. It includes names like Indian Hotels Company, Max Healthcare Institute Ltd, United Spirits and Bajaj Finance to trade for quick games. Here's what the brokerage firms has to say on these stocks:  

Indian Hotels Company | Buy | Target Price: Rs 770.75-816.75 | Stop Loss: Rs 659.85 The chart of Indian Hotels Co Ltd (IHCL) is showing a bullish breakout from a long-term downward trendline. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. On sustaining above the breakout zone, next resistance levels are at Rs 770.75-816.75. RSI is around 59, reflecting strong momentum, which can further move upwards in the short term. We recommend to buy at current market price Rs 720.65 with short-term targets of Rs 770.75-816.75 and keep a stop loss at Rs 659.85.

Max Healthcare Institute | Buy | Target Price: Rs 1,184-1,220 | Stop Loss: Rs 1,067 The chart of Max Healthcare 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 currently sustaining above the key 1,139 breakout zone, and if this level holds on a closing basis, the next major resistance is likely around Rs 1,184, which also coincides with previous swing highs and psychological resistance. RSI is near the bullish zone around 71, reflecting strong momentum, although slightly overheated in the short term. Volume expansion during the breakout phase adds credibility to the move. On sustaining above Rs 1,184 can keep the momentum intact towards Rs 1,220 and potentially higher levels, while immediate support now shifts to Rs 1,096. We recommend to buy at current price with short-term targets of Rs 1,184-1,220, and keep a stop-loss at Rs 1,067.

Bajaj Finance | Buy | Target Price: Rs 1,037-1,092 | Stop Loss: Rs 926 Bajaj Finance Ltd has given a downward sloping trend line breakout and double bottom support on weekly time frame indicating end of consolidation. The RSI is in the buying range confirming space for upward movement. The Stock is trading above all the DMA and taken a support 100 day moving average (DMA). We recommend to buy at current market price with short-term targets of Rs 1,037 and Rs 1,092 and keep a stop loss at Rs 926.

United Spirits | Buy | Target Price: Rs 1,515.35-1,600.70 | Stop Loss: Rs 1,275.80 The chart of United Spirits Ltd is showing a bullish breakout from a long-term downward trendline. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. RSI is around 56, reflecting firm momentum with room before overbought territory, supporting further upside without signalling exhaustion. We recommend to buy at current market price Rs 1,384.90 with short-term targets of Rs 1,515.35-1,600.70 and keep a stop-loss at Rs 1,275.80.