'Buy' Adani Green, Kalyan Jewellers & RBL Bank shares: LKP Securities' analyst; check price targets

Indian equity benchmarks rebounded sharply on Monday, recovering from early losses to extend gains for the third consecutive session, as value buying and optimism around easing geopolitical tensions lifted investor sentiment. The 30-share BSE Sensex pack surged 787.30 points or 1.07 per cent to close at 74,106.85, while the NSE Nifty index rose 255.15 points or 1.12 per cent to settle at 22,968.25.

The broader market outperformed the benchmarks, with Nifty Midcap 100 rising 1.52 per cent and Nifty Smallcap 100 advancing 1.29 per cent.

For Tuesday's trade, Vatsal Bhuva, Technical Analyst at LKP Securities, shared his views on RBL Bank Ltd, Adani Green Energy Ltd and Kalyan Jewellers India Ltd from a short-term trading perspective.

RBL Bank | Buy @ Rs 317 | Stop Loss: Rs 304 | Target: Rs 336

The stock has witnessed a strong consolidation breakout on daily charts, supported by a notable expansion in trading volumes, indicating renewed buying interest. Additionally, the stock has closed above its 20-day and 50-day simple moving averages (SMAs), forming a bullish candlestick pattern. This confluence of price action, momentum, and moving average support suggests a positive bias, with potential for further upside in the near term.

Adani Green | Buy @ Rs 920 | Stop Loss: Rs 890 | Target: Rs 960

The stock has exhibited strong bullish momentum, closing above its recent swing high with a long bullish candlestick, indicating aggressive buying interest. The breakout is supported by improved participation, reinforcing positive momentum. Going ahead, the momentum is likely to sustain, and the counter may witness a further upside move towards the Rs 960 zone, where its 100-day moving average is placed, acting as an immediate resistance level.

Kalyan Jewellers | Buy @ Rs 419 | Stop Loss: Rs 403 | Target: Rs 442

The stock has confirmed a breakout from a falling channel pattern on daily charts, indicating a potential trend reversal. In addition, the stock has moved above its 20-day and 50-day moving averages, reinforcing the positive bias. Going ahead, the upmove may extend further, with the stock likely to test the Rs 442 zone, where the 100-day moving average and a key resistance trendline are placed.