Buy Hero MotoCorp, SRF & Polycab shares, suggest Rajesh Palviya of Axis Securities

Indian benchmark indices rebounded on Tuesday amid positive domestic and global cues. Hopes of an interim trade deal between India and the US supported the sentiments at Dalal Street. BSE Sensex jumped 317.45 points, or 0.39 per cent, to settle at 82,253.46, while NSE's Nifty50 gained 113.50 points, or 0.45 per cent, to close at 25,195.80 for the day.

Select buzzing stocks including Hero MotoCorp, Polycab India and SRF are likely to remain under the spotlight of traders for the session today. Here is what  Rajesh Palviya, SVP of Technical and Derivatives Research at Axis Securities has to say about these stocks ahead of Wednesday's trading session:

Hero MotoCorp | Buy | Target Price: Rs 4,650-4,700| Stop Loss: Rs 4,290

Hero MotoCorp has confirmed a 'multiple resistance' zone at Rs 4,430 levels on a closing basis on the daily charts. This breakout is accompanied by huge volumes, which signifies increased participation. The stock is sustaining above its 20, 50, 100 and 200-day SMA, reconfirming the bullish trend. The daily band Bollinger'  buy signal suggests increased momentum. 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 4,700-4,900, and its downside support zone is the Rs 4,260-4,200  levels.  

SRF | Buy | Target Price: Rs 3,450 | Stop Loss: Rs 3,100

SRF is in a strong uptrend across all time frames, forming a series of higher tops and bottoms formation indicating a sustained uptrend. Recently, the stock has registered an all-time high at Rs 3,325, which reconfirms bullish sentiments. It is sustaining above its 20, 50, 100 and 200-day SMA, and these averages are also inching up along with price rise, which reconfirms the bullish trend. The 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 3,400-3,600, and its downside support zone is the Rs 3,130-3,100 levels.

Polycab India | Buy | Target Price: Rs 7,400-7,500 | Stop Loss: Rs 6,680

With the current close, Polycab has decisively surpassed its multiple resistance zone of Rs 6,860 levels on a closing basis. In addition to the daily chart, it has also confirmed a flag formation breakout, which signifies the continuation of the prior uptrend. This breakout is accompanied by huge volumes, which signifies increased participation. The stock is sustaining above its 20, 50, 100 and 200-day SMA, reconfirming 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 7,400-7,550, and its downside support zone is the Rs 6,650- 6,550  levels.