Federal Bank, Persistent, Bharti Hexacom, FSL among top stocks to buy; check fresh target prices

Amid the ongoing wild moves in the Indian equity markets, select domestic brokerage firms like SMC Global Securities and Canara Bank Securities have suggested select stocks including Federal Bank, Persistent Systems Ltd, Bharti Hexacom and Firstsource Solutions Ltd to make quick gains in the short-term citing their strong technical parameters. Here's what the brokerage firms have to say on these stocks:  

Firstsource Solutions | Buy | Target Price: Rs 335-340 | Stop Loss: Rs 275 Firstsource Solutions is showing a bullish reversal structure, with a potential cup-and-handle formation developing on the daily chart. It has recovered from the Rs 250–260 zone and is consolidating near Rs 280–295, indicating improving buying interest. The current price around Rs 290 is above the recent breakout base, while RSI and MACD suggest strengthening momentum. Immediate resistance is placed at Rs 295–300 zone, and a decisive breakout could open the way towards Rs 320–330 zone. On the downside, Rs 280–275 acts as immediate support, followed by stronger trend line support near Rs 270. The bias remains positive for the stock, with Rs 300 as the key breakout trigger. Therefore, one can take a conditional buy above the breakout level of Rs 300 with the expected upside of Rs 335-340 levels with stop loss below Rs 275 levels.Recommended by: SMC Global Securities

Federal Bank | Buy | Target Price: Rs 361-370 | Stop Loss: Rs 326 Federal Bank Ltd has given a breakout from a downward sloping channel, also it took a retest from the breakout levels indicating positive momentum. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. RSI is near the moderate zone around 60, reflecting a strong momentum upward trend. Volume expansion during the breakout phase adds credibility to the move. We recommend to buy at current market price with short-term targets of Rs 360.9-370.0, and keep a stop-loss at Rs 326.Recommended by: Canara Bank Securities  Bharti Hexacom | Buy | Target Price: Rs 1820-1830 | Stop Loss: Rs 1,550 Bharti Hexacom Ltd has staged a strong recovery from the Rs 1,350–1,400 zone and is now consolidating around Rs 1,600–1,640, indicating improving buying interest. The stock is trading near Rs 1,640 level with positive momentum reflected in the RSI and MACD. Immediate resistance is placed at Rs 1,640–1,660 zone, and a sustained breakout could push the stock towards new swing highs. On the downside, Rs 1,600–1,580 zone is the immediate support zone, while Rs 1,550 remains a crucial level to watch with its 200 days exponential moving average placed there. Overall the bias remains positive as long as the stock holds above Rs 1,550. A decisive move above Rs 1,660 could strengthen the recovery. Therefore, one can take a conditional buy into a stock above the breakout level of Rs 1,660 for the expected upside of Rs 1820-1830 levels with stop loss below Rs 1,550 levels.Recommended by: SMC Global Securities  

Persistent Systems | Buy | Target Price: Rs 6,179 | Stop Loss: Rs 5,461 Persistent Systems is a holding company engaged in providing software products, services and technology innovation. It has broken above a downward-sloping trendline near Rs 5,533, signalling a potential trend reversal. It subsequently retested the breakout zone around Rs 5,502, indicating that the previous resistance may have turned into support. The RSI at 56 suggests improving bullish momentum, with room for further upside. We recommend buying Persistent Systems at the current market price, with a short-term target of Rs 6,179 and a stop-loss at Rs 5,461.Recommended by: Canara Bank Securities