Domestic brokerage firms Choice Broking and SMC Global Securities have highlighted several Indian equities as potential "buy" opportunities, citing robust technical indicators. Among their top picks are HDFC Life Insurance Company, Bank of Maharashtra, Fortis Healthcare, and Mayur Uniquoters, each with defined price targets and stop-loss levels for traders and investors.
HDFC Life Insurance Company
SMC Global Securities recommends a conditional buy for HDFC Life, suggesting accumulation above a breakout level of Rs 567 for an expected upside target of Rs 608-610. A stop loss is advised at Rs 530. The stock's daily chart exhibits a classic double-bottom formation, indicating strong demand near the Rs 510-515 zone after a prolonged downtrend. The second bottom was notably higher, signaling diminishing selling pressure, with the stock rebounding towards Rs 560 through a series of higher lows. The horizontal neckline resistance is set at Rs 565-567, while immediate support lies between Rs 540-545, followed by Rs 530, and a crucial base at Rs 510-515. Momentum indicators, including RSI above 55 and MACD turning positive near the zero line, support a constructive outlook. A decisive daily close above Rs 567 would confirm the pattern breakout, potentially opening the path to the Rs 590-600 zone.
Bank of Maharashtra
Choice Broking advises a "buy" on Bank of Maharashtra, setting target prices between Rs 91-96, with a stop loss at Rs 80. The stock displays a positive technical setup on its weekly chart, maintaining a higher-high and higher-low structure indicative of a sustained uptrend. It previously broke out of a sideways consolidation range and has consistently found buying interest near this breakout zone, highlighting a potential demand area. The stock also finds support near its 20-week Exponential Moving Average (EMA), reinforcing the positive trend. The Relative Strength Index (RSI) holding above the 50 mark suggests bullish momentum remains intact. Positional trades can consider buying around Rs 82.75, with further accumulation on dips towards Rs 80. The Rs 76 level is identified as an important support zone, crucial for maintaining the positive technical outlook.
Fortis Healthcare
Fortis Healthcare is another "buy" recommendation from Choice Broking, with a target price of Rs 892 and a stop loss at Rs 745. The stock is attracting buying interest near its previous weekly swing-high breakout zone, with the weekly candle showing signs of support and a potential rebound. After peaking around Rs 1,100 in late 2025, Fortis underwent a significant correction and has now approached a crucial horizontal demand zone at Rs 750. This zone is seen as an important base for stabilization and a potential recovery. Momentum indicators also signal a possible recovery, with the RSI at 31.71, nearing oversold territory. Sustaining this support zone could pave the way for an upside towards Rs 892. Positional traders may consider entry around Rs 794, with the specified stop-loss.
Mayur Uniquoters
SMC Global Securities recommends a "buy" for Mayur Uniquoters, targeting Rs 875-885 with a stop loss at Rs 720. The stock is showing signs of a potential bullish breakout from a descending trend line after an extended consolidation phase. It has rebounded above the falling resistance line near the Rs 750-760 zone, indicating improving momentum. A long-term horizontal trend line around the Rs 680-690 base provides crucial support, with immediate support near the Rs 740-750 zone. Both RSI and MACD are turning upward, suggesting strengthening buying interest. Sustained trading above the Rs 780-790 zone could lead to Rs 840-860 in the near term. Confirmation through sustained price action and volume would reinforce the bullish outlook. Accumulation is advised in the Rs 780-790 range.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.