Bharat Forge, UPL, Amber Enterprises: How to trade these 3 buzzing stocks

Indian benchmark indices settled slightly lower on Tuesday after a volatile trading session amid the monthly expiry of October series contracts. Trader's sentiments remained jittered amid the profit booking. BSE Sensex declined 150.68 points, or 0.18 per cent, to settle at 84,628.16, while NSE's Nifty50 shed 29.85 points, or 0.11 per cent, to close at 25,936.20 for the day.
 

Select buzzing stocks including Bharat Forge, Amber Enterprises and UPL are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Research at Axis Securities has to say about these stocks ahead of Wednesday's trading session:
 

UPL | Buy | Target Price: Rs 750 | Stop Loss: 685

UPL has decisively surpassed the multiple resistance levels of Rs 690 on a closing basis, along with huge volumes on the daily charts, which signals bullish sentiments. The stock is well placed above its 20, 50, 100 and 200-day SMA, and these averages are also inching up along with rising averages, which reconfirms bullish sentiments. The daily, weekly and monthly strength indicator, RSI, is in favourable territory, indicating rising strength across all time frames. The daily and weekly 'band Bollinger' buy signal shows increased momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 750-775, and its downside support zone is the Rs 690-680 levels.
 

Bharat Forge | Buy | Target Price: Rs 1,500 | Stop Loss: 1,265

Bharat Forge has confirmed an 'inverted head & shoulder' pattern breakout at Rs 1,277 levels on a closing basis on the daily charts. This breakout is accompanied by huge volumes representing increased participation. The stock is well placed above its 20, 50, 100 and 200-day SMA, which reconfirms the bullish trend. The daily and weekly strength indicator, 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 1,400-1,550, and its downside support zone is the Rs 1,280-1,260 levels.
 

Amber Enterprises | Buy | Target Price: Rs 8,950 | Stop Loss: 8,340

Amber has confirmed a 'consolidation zone' breakout at Rs 8,515-8,000 levels on a closing basis, along with huge volumes on the daily charts. The daily and weekly 'band Bollinger' buy signal shows increased momentum. The stock is well placed above its 20, 50, 100 and 200-day SMA, which reconfirms the bullish trend. The daily, weekly and monthly strength indicator, 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 8,730-8,990, and its downside support zone is the Rs 8,350-8,300 levels.