Divis Labs, Midhani, Data Patterns: Stocks to trade — Check key levels, target prices & stop loss

Indian equity benchmark indices extended its weakness on Tuesday and extended weakness on Wednesday led by the muted geopolitical cues and rising crude oil prices. The BSE Sensex tanked more than 550 points but managed to hold 75,000 levels, but the Nifty50 index cracked another 150 points to slip below the 23,500 mark.

Select buzzing stocks including Divis Laboratories Ltd, Mishra Dhatu Nigam Ltd and Data Patterns (India) Ltd 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:

Data Patterns (India) | Buy | Target Price: Rs 5,060-5,250 | Stop Loss: Rs 4,750
Data Patterns decisively surpassed the multiple resistance zones around the Rs 4,870 level on a closing basis on the daily line charts, accompanied by huge volumes, indicating a strong comeback of bulls. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up with the price rise, which reconfirms the bullish trend. The daily 'Bollinger Band' buy signal indicates increased momentum.  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 5,060-5,250, and its downside support zone is the Rs 4,850-4,650 levels.

Divis Laboratories | Buy | Target Price: Rs 9,800-9,900 | Stop Loss: Rs 9,290
Divis Labs is in strong uptrend across all the time frames forming a series of higher tops and bottoms formation indicating sustained uptrend. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up 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. The weekly and monthly 'Bollinger Band' buy signal indicates increased momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 9,800-9,900, and its downside support zone is the Rs 9,380-9,200 levels.

Mishra Dhatu Nigam | Buy | Target Price: Rs 490-530 | Stop Loss: Rs 445
With the current close, Midhani decisively surpassed the 'multi-month resistance' zone of Rs 460, accompanied by huge volumes indicating increased participation at the breakout zone. The daily and weekly 'Bollinger Band' buy signal indicates increased momentum. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up 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 490-530, and its downside support zone is the Rs 450-440 levels.