MCX, Persistent Systems, Supreme Industries: Top stocks to trade — Check target prices & stop loss

Indian equity benchmark indices settled sharply higher on Thursday on the back of supportive global cues easing the bond yield pressure and recovery in the Indian rupee. However, sentiments remain cautious over elevated crude oil prices. The BSE Sensex surged 628.04 points, or 0.82 per cent, to close at 77,537.72, while NSE's Nifty50 plunged 153.55 points, or 0.64 per cent, to end at 24,231.85 for the day.

Select buzzing stocks including Supreme Industries, Persistent Systems and Multi Commodity Exchange of India Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research at Master Capital Services has to say on them ahead of Friday's trading session:

Persistent Systems | Buy | Target Price: Rs 6,040-6,150 | Stop Loss: Rs 5,370
Persistent Systems Ltd has witnessed a constructive shift in its short term trend following a breakout from a complex inverse head and shoulders reversal pattern. The stock has maintained a strong recovery from the Rs 4,400 support zone, forming a consistent sequence of higher highs and higher lows. The 21 EMA has crossed above the 200 EMA, signalling a positive shift in trend momentum. Price is comfortably placed above all key moving averages, reinforcing the bullish structure. Momentum indicators remain supportive, with RSI at 65, indicating sustained buying strength and scope for further upside.

Multi Commodity Exchange of India | Buy | Target Price: Rs 3,380-3,460 | Stop Loss: Rs 2,890
MCX has strengthened its short term technical setup after delivering a decisive consolidation breakout above Rs 3,030 on a closing basis. The stock has maintained a positive price structure, with a clear sequence of higher highs and higher lows emerging on the chart. Earlier, the price found strong support around the Rs 2,600 horizontal zone and has since sustained a steady upward trajectory. The broader trend remains robust, with the stock now trading above all its key moving averages, indicating continued bullish momentum and a favourable setup for further upside.

Supreme Industries | Buy | Target Price: Rs 3,925-4,050 | Stop Loss: Rs 3,450
Supreme Industries Ltd has witnessed a positive short term trend reversal following a breakout from an inverse head and shoulders pattern, accompanied by a reclaim of all key moving averages. Earlier, the stock also breached a declining trend line above Rs 3,470, signalling a positive shift in momentum. After forming a double bottom near the strong horizontal support of Rs 3,150, the stock has sustained a steady upward move. The overall chart structure remains constructive, with a clear sequence of higher highs and higher lows, supporting a continuation of the prevailing bullish momentum.