Amid the rising selling pressure in the broader markets, domestic brokerage firms like SMC Global and Canara Bank Securities have suggested select stocks based on their strong charts and sound technical parameters to make short-term gains as investors seek refuge in safer bets. They have picked counters life DLF Ltd, HBL Engineering and Navin Fluorine International Ltd. Here's what they have said on these counters:
HBL Engineering | Buy | Target Price: Rs 895-905 | Stop Loss: Rs 720
HBL Engineering Ltd has given a breakout above the inverse head-and-shoulders pattern, with the head near Rs 640–650 and shoulders around Rs 680–710 zone. The neckline around Rs 780–785 zone has been decisively crossed, while price has also moved above the long-term descending trend line, indicating improving technical structure. The breakout is accompanied by stronger momentum, with RSI and MACD turning upward, supporting the positive setup. Immediate resistance is visible near Rs 810–820, followed by the broader Rs 850–860 zone. On the downside, Rs 780–785 should now act as the key breakout support, while Rs 700–720 remains an important positional support zone. Sustained trading above Rs 785 could keep the recovery structure intact, with the pattern suggesting scope toward Rs 850–860 levels as well. Therefore, one can accumulate a stock on dips in range of Rs 785-795 levels with the expected upside of Rs 895-905 levels with stop loss below Rs 720 levels.
Recommended by: SMC Global Securities
Navin Fluorine International | Buy | Target Price: Rs 9,085-9,372 | Stop Loss: Rs 7,769
Navin Fluorine has given a breakout from a downward sloping channel, also it took a retest from the breakout levels indicating positive momentum. Price has moved above all major moving averages, indicating improving momentum and strengthening trend structure. RSI is near the moderate zone around 54, reflecting a strong upward trend. Volume expansion during the breakout phase adds credibility to the move. We recommend buying at current market price with short-term targets of Rs 9,085-9,372, and keep a stop-loss at Rs 7,769.
Recommended by: Canara Bank Securities
DLF | Buy | Target Price: Rs 780-800 | Stop Loss: Rs 640
DLF's weekly chart shows the stock consolidating in a tight range just above its long-term rising moving average, following a sharp correction from the 2024 highs. After bottoming out around Rs 600-620 zone the stock has carved out a base and is now trading around Rs 683 levels, within the marked consolidation box. Immediate support is placed at Rs 640-650 zone, with a breach opening downside toward Rs 600. On the upside, resistance is seen at Rs 695-700 levels and a decisive weekly close above which could trigger a fresh up move toward Rs 750-780 levels. RSI and MACD are turning neutral-to-positive, suggesting stabilization rather than strong momentum yet. Overall, the structure hints at a base-building phase, with a breakout above Rs 700 needed to confirm trend reversal. Therefore, one can take a conditional buy into a stock above the breakout level of Rs 700 for the expected upside of 780-800 levels with stop loss below Rs 640 levels.
Recommended by: SMC Global Securities
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