Bharat Forge, UltraTech, AU Bank: Stocks to buy - check price target, stop loss & more

Indian equity benchmark indices rebounded sharply and settled higher on Tuesday on the back of supportive global and domestic cues including peace talks and strong quarterly earnings by India Inc. The BSE Sensex jumped 753.03 points, or 0.96 per cent, to close at 79,273.33, while NSE's Nifty50 rose 211.75 points, or 0.87 per cent, to end at 24,576.60 for the day.

Select buzzing stocks including UltraTech Cement Ltd, AU Small Finance Bank Ltd and Bharat Forge are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, Head of Research at Axis Securities has to say on them ahead of Wednesday's trading session:
 

Bharat Forge | Buy | Target Price: Rs 1,935-2,000 | Stop Loss: Rs 1,825

Bharat Forge Ltd is in a strong uptrend across all time frames, indicating sustained momentum. The stock is well placed above its 20, 50, 100 and 200-day SMAs. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. The daily and monthly 'Bollinger Band' buy signals indicate increased momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is 1935-2000, and its downside support zone is the 1850-1800  levels.
 

UltraTech Cement| Buy | Target Price: Rs 12,500-12,800 | Stop Loss: Rs 11,760

UltraTech is inching up, forming a higher top and bottom on the daily chart. The stock is hovering around the 200-day SMA (Rs 12,106) from current levels. Therefore, any sustained move above this level may trigger upside momentum towards the 12500-12700 levels. The stock is well placed above the 20, 50, and 100-day SMAs, which reconfirms a short-term positive bias. The daily and weekly RSI is in positive territory, indicating sustained strength. The daily 'Bollinger Band' buy signals indicate increased momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 12,500-12,800, and its downside support zone is the Rs 11,700–11,800 levels.
 

AU Small Finance Bank | Buy | Target Price: Rs 1,070-1,115 | Stop Loss: Rs 985

With the current close, AU Bank has decisively surpassed the 'multiple resistance' zone of Rs 1,030 levels on a closing basis. This breakout is accompanied by huge volume, signalling increased momentum. It has also registered an all-time high, which reconfirms bullish sentiments. 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 1,070-1,115, and its downside support zone is the Rs 995-975 levels.