BEML, Data Patterns, L&T Finance: Top stocks to trade — Check key levels, target prices & stop loss

Indian equity benchmark indices settled lower on Tuesday on the back of muted global cues led by the elevated crude oil prices and rising bond yields. The rising geopolitical tensions are weighing on the market sentiments. The BSE Sensex tanked 492.70 points, or 0.63 per cent, to close at 77,235.46, while NSE's Nifty50 plunged 132.75 points, or 0.55 per cent, to end at 24,154.90 for the day.

Select buzzing stocks including Data Patterns (India) Ltd, BEML and L&T Finance Holdings are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, Head of Research at Axis Direct has to say on them ahead of Wednesday's trading session:

L&T Finance Holdings | Buy | Target Price: Rs 335-345 | Stop Loss: Rs 315
L&T Finance Holdings Ltd has decisively surpassed the down-sloping trendline breakout at Rs 321 from the past couple of months. This breakout is accompanied by huge volumes, indicating increased participation. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily "Bollinger Band" buy signal indicates increased momentum. The daily and weekly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 335-345 and its downside support zone is the Rs 318-313 levels.

Data Patterns (India) | Buy | Target Price: Rs 4,900-5,000 | Stop Loss: Rs 4,635
With the current close, Data Patterns has decisively surpassed its multiple resistance levels from the past three weeks on a closing basis indicating resumption of the prior uptrend. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly, and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 4,900-5,000, and its downside support zone is the Rs 4,650-4,625 levels.

BEML | Buy | Target Price: Rs 2,050-2,100 | Stop Loss: 1910
BEML Ltd confirmed a 'flag' formation breakout on the daily chart at the Rs 1,945 on a closing basis, accompanied by huge volumes, indicating a resumption of the prior uptrend. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly, and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 2,050-2,100, and its downside support zone is the Rs 1,930-1,895  levels.