ITC, Bandhan Bank, Chennai Petro: Stocks to buy— Check price target, stop loss & more
An analyst at YES Securities said that Chennai Petro has given ascending triangle breakout after consolidation, with recent price action showing renewed upward momentum.
- Apr 30, 2026,
- Updated Apr 30, 2026 8:55 AM IST
Indian equity benchmark indices managed to post gains on Wednesday, thanks to supportive earnings from India Inc, despite weak global cues, persistent FII outflows and depreciating Indian rupee. The BSE Sensex jumped 609.45 points, or 0.79 per cent, to close at 77,496.36, while NSE's Nifty50 gained 181.95 points, or 0.76 per cent, to end at 24,177.65.
Select power stocks including ITC Ltd, Bandhan Bank and Chennai Petroleum Corporation Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla , Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
Bandhan Bank | Buy | Target Price: Rs 220 | Stop Loss: Rs 174
Bandhan Bank Ltd has demonstrated significant strength, breaking decisively above the key Rs 190 resistance level and sustaining above all major daily moving averages. This breakout has now established that zone as a new support base. With the momentum pointing toward bullish territory, a near-term target is projected in the Rs 217-220 range. A prudent strategy would be to enter on any pullback toward the Rs 187-190 support, managing risk with a stop loss below Rs 174 for a favorable risk-reward ratio.
Chennai Petroleum Corporation | Buy | Target Price: Rs 1,260 | Stop Loss: Rs 1,050
Chennai Petro has given ascending triangle breakout after a few days of consolidation, with recent price action showing renewed upward momentum. It is trading comfortably above all key moving averages while the daily RSI has given a positive crossover further strengthening the bullish outlook. This technical setup suggests a potential upside towards Rs 1,260, making current levels attractive for fresh long positions. We recommend buying it around Rs 1,110-1,120 zone with a stop loss at Rs 1,050, offering investors a favorable risk-reward ratio.
ITC | Buy | Target Price: Rs 340 | Stop Loss: Rs 295
Despite a recent retreat from its high of Rs 334, ITC Ltd is now presenting a compelling buying opportunity. It has found strong support at a key confluence zone that includes the previous swing low and the 20-day SMA’s. This robust support level is further reinforced by the emergence of a bullish belt hold' candlestick pattern and the prior confirmation of a breakout above its previous peak. These factors collectively signal an imminent recovery. For traders, this suggests a strategic entry into price dips within the Rs 308 to Rs 312 range, targeting an upside of Rs 340, while prudently managing risk with a stop loss placed at Rs 295.
Indian equity benchmark indices managed to post gains on Wednesday, thanks to supportive earnings from India Inc, despite weak global cues, persistent FII outflows and depreciating Indian rupee. The BSE Sensex jumped 609.45 points, or 0.79 per cent, to close at 77,496.36, while NSE's Nifty50 gained 181.95 points, or 0.76 per cent, to end at 24,177.65.
Select power stocks including ITC Ltd, Bandhan Bank and Chennai Petroleum Corporation Ltd are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla , Technical Analyst at YES Securities has to say on them ahead of Thursday's trading session:
Bandhan Bank | Buy | Target Price: Rs 220 | Stop Loss: Rs 174
Bandhan Bank Ltd has demonstrated significant strength, breaking decisively above the key Rs 190 resistance level and sustaining above all major daily moving averages. This breakout has now established that zone as a new support base. With the momentum pointing toward bullish territory, a near-term target is projected in the Rs 217-220 range. A prudent strategy would be to enter on any pullback toward the Rs 187-190 support, managing risk with a stop loss below Rs 174 for a favorable risk-reward ratio.
Chennai Petroleum Corporation | Buy | Target Price: Rs 1,260 | Stop Loss: Rs 1,050
Chennai Petro has given ascending triangle breakout after a few days of consolidation, with recent price action showing renewed upward momentum. It is trading comfortably above all key moving averages while the daily RSI has given a positive crossover further strengthening the bullish outlook. This technical setup suggests a potential upside towards Rs 1,260, making current levels attractive for fresh long positions. We recommend buying it around Rs 1,110-1,120 zone with a stop loss at Rs 1,050, offering investors a favorable risk-reward ratio.
ITC | Buy | Target Price: Rs 340 | Stop Loss: Rs 295
Despite a recent retreat from its high of Rs 334, ITC Ltd is now presenting a compelling buying opportunity. It has found strong support at a key confluence zone that includes the previous swing low and the 20-day SMA’s. This robust support level is further reinforced by the emergence of a bullish belt hold' candlestick pattern and the prior confirmation of a breakout above its previous peak. These factors collectively signal an imminent recovery. For traders, this suggests a strategic entry into price dips within the Rs 308 to Rs 312 range, targeting an upside of Rs 340, while prudently managing risk with a stop loss placed at Rs 295.