BEL, Torrent Pharma & Techno Electric: Expert view on short term trading

Indian equity markets extended gains for the fourth consecutive session on Friday, with benchmark indices scaling nine-month highs. The BSE Sensex climbed 303 points or 0.36 per cent to settle at 84,059, while the broader NSE Nifty rose 89 points or 0.35 per cent to close at 25,638. Broader markets also participated in the rally, with the BSE MidCap index advancing 0.27 per cent and the SmallCap index outperforming with a 0.91 per cent gain.

Looking ahead, select buzzing stocks like Bharat Electronics Ltd (BEL), Torrent Pharmaceuticals Ltd and Techno Electric & Engineering Company Ltd are expected to remain in focus among traders. Here’s what Rupak De, Senior Technical Analyst at LKP Securities, suggests for short-term trading:

Buy BEL @ Rs 414.50 | Target: Rs 445 | Stop Loss: Rs 399

BEL is showing signs of a potential short-term reversal. A consolidation breakout on the hourly chart supports a bullish outlook. The Relative Strength Index (RSI) on the hourly timeframe is in a bullish crossover, indicating rising momentum. The trend is likely to stay positive in the near term, with an expected upside towards Rs 445. Traders may place a stop-loss at Rs 399 to manage risk.

Buy Torrent Pharma @ Rs 3,375 | Target: Rs 3,600 | Stop Loss: Rs 3,250

Torrent Pharma has witnessed a breakout from a consolidation phase on the daily charts, signalling improved sentiment. The stock has reclaimed its 200-day moving average, which typically reflects strengthening price action. The RSI is trending upwards, suggesting growing bullish momentum. The stock appears poised for a move toward Rs 3,600, with a stop-loss suggested at Rs 3,250.

Buy Techno Electric @ Rs 1,591 | Target: Rs 1,750 | Stop Loss: Rs 1,545

Techno Electric has broken out of a consolidation zone on the daily chart, indicating a bullish bias. It is also trading above its 21-day Exponential Moving Average (EMA), highlighting continued strength. With the RSI supporting the uptrend, the stock may head towards Rs 1,750 in the short term. A stop-loss can be placed at Rs 1,545.