Reliance, Ola Electric, Welspun Corp: Top stocks to buy — Price targets, stop loss, & more

Indian equity benchmark indices gave up early gains to settle lower amid fragile global cues and investors turned cautious ahead of the key US inflation data, which may dictate the US Fed’s policy. Investors book profit as geopolitical tensions persist. The BSE Sensex added 64.42 points, or 0.09 per cent, to close at 73,983.18, while NSE's Nifty50 shed 27.15 points, or 0.12 per cent, to end at 23,214.95 for the day.

Select buzzing stocks including Welspun Corp, Reliance Industries Ltd (RIL) and Ola Electric Mobility Ltd are likely to remain under the spotlight of traders for the session today. Here is what  Laxmikant Shukla, Technical Equities Research Analyst at YES Securities has to say on them ahead of Thursday’s trading session:
 

Welspun Corp | Hold | Resistance: Rs 1,430 | Support: Rs 1,280
Welspun Corp Ltd is currently facing resistance in the Rs 1,420–1,430 range, close to its recent swing high. The formation of consecutive Doji candlestick patterns at this key resistance level suggests a temporary pause in momentum. Despite this price action, strong support is in place at Rs 1,280, followed by Rs 1,250. The overall outlook for the stock remains positive as long as it holds above these support levels. A breakout above Rs 1,430 could trigger further upside, potentially driving the stock towards the Rs 1,500 mark.
 

Ola Electric Mobility | Buy | Target Price: Rs 60 | Stop Loss: Rs 38
Ola Electric has delivered a decisive breakout above its 200-day SMA and its previous swing high, effectively turning this resistance zone into a strong support area. It continues to trade above all key moving averages, reinforcing the strength of the ongoing uptrend. The overall technical setup indicates the potential for further upside, with the next target seen in the Rs 58–60 range. A prudent strategy would be to consider buying on dips towards the Rs 43–45 zone with a stop loss placed below Rs 38 to maintain a favourable risk-reward profile as the uptrend remains intact.

Reliance Industries | Caution | Resistance: Rs 1,300 | Support: Rs 1,250
Reliance continues to exhibit a clear downtrend after breaking below the key Rs 1,300–1,310 support zone which has now turned into a strong resistance area. The stock is consistently forming multiple bearish candles, signalling continued selling pressure. While the RSI has entered oversold territory, indicating weakened momentum and the possibility of a short-term bounce, the broader trend remains negative. Immediate support is seen around Rs 1,250–1,260 whereas resistance stands firm at Rs 1,300–1,310. A decisive break below the current support levels could accelerate the decline and potentially push the stock towards the Rs 1,200.