Paytm, Apollo Tyres, Bata: What Rajesh Palviya of Axis Securities said on these 3 stocks

Indian benchmark indices gave up early gains and settled lower on Tuesday amid NSE's weekly expiry, leading to profit booking. Traders will be keenly looking at GST council's meeting and key economic data. BSE Sensex dropped 206.61 points, or 0.26 per cent, to settle at 80,157.88, while NSE's Nifty50 shed 45.45 points, or 0.18 per cent, to close at 24,579.60 for the day.

Select buzzing PSU stocks including Apollo Tyres, Bata India and One97 Communications (Paytm) are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Research at Axis Securities has to say about these stocks ahead of Wednesday's trading session:

One97 Communications | Buy | Target Price: Rs 1,450 | Stop Loss: Rs 1,170
Paytm is in a strong uptrend, forming a series of higher tops and bottoms on daily and weekly charts. It is trading comfortably above its 20, 50, 100, and 200-day SMAs, all of which are rising in sync with price action—reaffirming bullish momentum. The weekly RSI is holding firm above its reference line, signalling continued strength, while surging volumes in the recent rally highlight robust market participation. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 1,500-1,600, and its downside support zone is the Rs 1,150-1,050 levels.  

Apollo Tyres | Buy | Target Price: Rs 545-555 | Stop Loss: Rs 456
Apollo Tyres has broken above the medium-term downward sloping trendline at Rs 482, marking the onset of a fresh uptrend. On the daily chart, it has confirmed an inverted Head & Shoulders breakout at Rs 473, signalling a short-term bullish bias. Rising volumes at the breakout validate the pattern and reflect strong market participation. The stock trades well above its 20, 50, 100, and 200-day SMAs, all trending higher in line with price action, reaffirming bullish momentum. Additionally, a daily Bollinger Band buy signal highlights strengthening momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 550-580, and its downside support zone is the Rs 470- 430 levels.  
 
Bata India | Buy | Target Price: Rs 1,240-1,280 | Stop Loss: Rs 1,080
Bata India has staged a short and medium-term trend reversal on daily and weekly charts. It has found strong support near Rs 1,025—an important historical level last tested in March 2020—before rebounding sharply. The breakout above the recent swing high of Rs 1,150 reinforces a positive short-term bias. Both daily and weekly RSI have crossed above their reference lines, generating a buy signal, while rising volumes around the support zone confirm robust market participation. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 1,300-1,400, and its downside support zone is the Rs 1,060-1,000 levels.