BHEL, Motilal Oswal, RK Forgings: Top stocks to trade — Key levels, target prices & stop loss

Indian equity benchmark indices extended their gains on Tuesday led by positive global and domestic cues, ahead of RBI's monetary policy due on Wednesday. Upbeat quarterly updates and eased crude oil prices drove the sentiments. The BSE Sensex surged 685.34 points, or 0.95 per cent, to end at 73,067.81, while NSE's Nifty50 rallied 220.35 points, or 0.98 per cent, to settle at 22,776.10.

Select buzzing stocks including Bharat Heavy Electricals Ltd, Motilal Oswal Financial Services Ltd and Ramkrishna Forgings Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vaishnavi Jagtap, Senior Technical Research Analyst at Axis Direct has to say about these stocks for Wednesday's trading session:

Motilal Oswal Financial Services | Buy | Target Price: Rs 1,150-1,200 | Stop Loss: Rs 1,030
MOFSL has decisively surpassed the multiple resistance zones around the Rs 1,065 level on a closing basis over the past couple of months, with the current session's strong upmove. This breakout is accompanied by huge volumes, indicating a significant increase in participation. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up with the price rise, which reconfirms the bullish trend. The daily Bollinger Band buy signal indicates increased momentum. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 1,150-1,200, and its downside support zone is the Rs 1,060-1,015 level.

Ramkrishna Forgings | Buy | Target Price: Rs 770-790 | Stop Loss: Rs 700
Ramakrishna Forgings is trending higher on the daily and weekly charts, forming a series of higher tops and bottoms. For the past five weeks, the stock has remained well above its prior breakout zone of Rs 680, indicating a positive bias. The stock captured the 20- and 50-day SMAs and rebounded sharply, indicating bullish sentiment. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Above-average volumes in the current session indicate increased participation. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 770-790, and its downside support zone is the 710-695 level.

Bharat Heavy Electricals | Buy | Target Price: Rs 470-485 | Stop Loss: Rs 437
With the current close, BHEL decisively surpassed the multiple resistance zone of Rs 444 from the past three months, accompanied by huge volumes. The stock has registered an all-time high at Rs 453 levels, indicating bullish sentiment. The daily Bollinger Band buy signal indicates increased momentum. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 470-485, and its downside support zone is the Rs 444-430 level.