SBI, Wipro, IOCL, Union Bank among top stocks to buy for short-term gains; check price targets

Amid the fresh buying interest in the Indian equity markets, select domestic brokerage firms including SMC Global Securities, SMIFS and Bajaj Broking have suggested select stocks including Indian Oil, Union Bank of India, Wipro and State Bank of India based on their strong technical parameters and sound chart patterns. Here's what these brokerage firms have to say on these counters:

Indian Oil Corporation | Buy | Target Price: Rs 160 | Stop Loss: Rs 137
Indian Oil Corporation Ltd (IOCL) is exhibiting a constructive bullish setup after breaking out of a prolonged consolidation range, signaling fresh upside momentum. The stock has seen strong price and volume participation near the breakout zone, indicating accumulation and reinforcing the strength of the move. The current setup reflects improving price structure, with key moving averages turning supportive and momentum indicators gaining strength. As long as the stock sustains above the breakout zone, the bias remains positive. The technical setup remains constructive with upside potential towards Rs 160 from the current market price of Rs 144.50, while the bullish structure will remain intact as long as the stock holds above Rs 137 on a closing basis. A sustained move above the recent breakout level could attract fresh buying interest and drive the stock towards the stated target in the coming weeks.
Recommended By: SMIFS 

Union Bank of India | Buy | Target Price: Rs 205-208 | Stop Loss: Rs 170
Union Bank of India is witnessing a steady recovery on the daily chart after finding strong buying support around Rs 164–166 zone. It appears to be forming an ascending triangle pattern, with higher lows indicating growing buying interest near the Rs 186–187 resistance zone. The stock continues to hold above its long-term moving average, suggesting underlying strength. Technical indicators also remain supportive, with RSI gradually moving higher. On the downside, immediate rising trend line support is placed at Rs 178–180, followed by Rs 170–172. A decisive breakout above Rs 187–190 could pave the way for an upward move towards Rs 200 level as well, followed by Rs 205. One can accumulate a stock in range of Rs 185-180 for the expected upside of Rs 205-208 levels with stop loss below Rs 170 levels.
Recommended By: SMC Global Securities

State Bank of India | Buy | Target Price: Rs 1,149 | Stop Loss: Rs 940
SBIN has generated a breakout above a falling channel containing last 12 weeks price range signaling resumption of up move and offers fresh entry opportunity. Key observation in the weekly chart is that the stock has recently rebounded after forming a potential double bottom at the key support area of Rs 930-950 being the confluence of the following technical observations. 52-week EMA currently placed at Rs 968 levels. 50 per cent retracement of the previous major rally from Rs 680 to Rs 1,234. We expect the stock to head towards Rs 1,149 levels in the coming quarters being the 123.6 per cent external retracement of the previous decline from Rs 1,124-938. The weekly stochastic is in uptrend thus supports the positive bias in the stock.
Recommended By: Bajaj Broking

Wipro | Buy | Target Price: Rs 224-226 | Stop Loss: Rs 180
Wipro Ltd is showing encouraging signs of a bullish reversal on the daily chart after recovering sharply from the Rs 155–160 zone. It has formed a rectangular consolidation pattern between Rs 182 and Rs 196, with the latest price action indicating a breakout above the upper boundary. Trading near Rs 198, the stock is also approaching above its 200 days exponential moving average. RSI is strengthening above the 60 mark, while MACD remains positive, supporting improving bullish momentum. On downside immediate support is placed at Rs 192–190 zone, followed by stronger support around Rs 183 levels. A sustained breakout above Rs 200–202 zone could extend the recovery towards previous swing highs, as technical outlook remains cautiously positive. Therefore, one can accumulate a stock in range of Rs 195-200 with the expected upside of Rs 224-226 levels with stop-loss below Rs 180 levels.
Recommended By: SMC Global Securities