Paytm, Power Grid, Varun Beverages: Top stocks to trade — Check key levels, target price & stop loss

Indian equity benchmark indices managed to post mild gains on Thursday, following a volatile trading session, led by the rising crude oil prices. However, traders are now looking at inflation cues ahead of US Fed's monetary policy due next week. The BSE Sensex gained 138.36 points, or 0.19 per cent, to end at 74,902.59, NSE's Nifty50 added 46.30 points, or 0.20 per cent, to settle at 23,477.80 for the day.

Select buzzing stocks including Varun Beverages, Power Grid Corporation of India Ltd and One 97 Communications Ltd and are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say on them ahead of Friday's trading session:

One 97 Communications | Buy | Target Price: Rs 1,880-1,920 | Stop Loss: Rs 1,617
Paytm has maintained a strong uptrend, with the stock recently breaking above its previous swing high, confirming continued buying interest. The price structure remains positive, marked by a consistent formation of higher highs and higher lows. Previous corrective declines have repeatedly found support around the 21 EMA, highlighting sustained momentum and dip buying activity. The stock is currently trading above all its key short  and long term moving averages, further reinforcing the bullish trend. The RSI is around 65, indicating healthy momentum with further room for upside before entering an extreme zone.

Varun Beverages | Buy | Target Price: Rs 445-460 | Stop Loss: Rs 380
Varun Beverages Ltd is attempting to form a base around the Rs 390-400 zone, which has acted as an important historical support area. The recent stabilization near these levels indicates emerging buying interest after the prolonged corrective phase. Importantly, the daily chart is exhibiting a bullish RSI divergence, suggesting improving underlying momentum despite price weakness. A sustained hold above the Rs 390 zone could trigger a recovery towards the stock’s short term moving averages. Considering the potential base formation at current juncture, prices are looking to pave the way for Rs 445 and then Rs 460. 

    
Power Grid Corporation of India | Buy | Target Price: Rs 285-291 | Stop Loss: Rs 258
Power Grid has shown signs of a short term trend reversal after breaking out from a consolidation phase within the broader declining trend. The earlier downtrend appears to be losing momentum, with price action now indicating the formation of a higher high. The stock has also reclaimed its 21 EMA, reflecting improving near term price strength. Momentum indicators are supportive, with RSI improving to 54, suggesting further scope for upward movement without entering an overbought zone.