BHEL, Aadhar Housing, Tata Chemicals: Top stocks to buy — Price targets, stop loss & more

Indian equity benchmark indices kicked off the week on a positive note and settled higher on Monday, led by positive global cues around the US-Iran deal resulting in easing crude oil prices and inflationary concerns. The BSE Sensex jumped 736.38 points, or 0.97 per cent, to close at 76,264.33, while NSE’s Nifty50 soared 231 points, or 0.98 per cent, to end at 23,853.90 for the day.

Select buzzing stocks like Tata Chemicals, Bharat Heavy Electricals Ltd (BHEL) and Aadhar Housing Finance Ltd are likely to remain under the spotlight of traders for the session today. Here is what  Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers Ltd has to say on them ahead of Tuesday’s trading session:

Aadhar Housing Finance | Buy | Target Price: Rs 510 | Stop Loss: Rs 480
A bullish breakout has been witnessed above the Rs 485 level, indicating improving price strength. A sustained daily close above Rs 485 may pave the way for further upside towards Rs 510 in the near term. The stock is trading above its 50-day SMA, reinforcing the positive trend, while the daily RSI has also registered a breakout, signalling strengthening momentum. Immediate support is placed at Rs 480, whereas Rs 510 remains the key resistance and target zone. The overall bias remains positive as long as the stock sustains above Rs 480. 

Bharat Heavy Electricals | Conditional buy | Target Price: Rs 400-415 | Stop Loss: Rs 370
BHEL is currently trading in a range with immediate support placed at Rs 370 and resistance at Rs 400. A decisive breakout and close above Rs 400 could trigger fresh buying interest, potentially driving the stock towards Rs 415. The weekly RSI stands at 66, indicating strong momentum and supporting the bullish outlook. Traders may consider fresh long positions only above Rs 400, while Rs 370 remains a key support level to watch

Tata Chemicals | Buy | Target Price: Rs 763-800 | Stop Loss: Rs 710
Tata Chemicals Ltd is trading above its 50-day SMA, indicating a positive short-term trend. Immediate support is placed near Rs 710, while Rs 763 remains a crucial resistance level. A decisive breakout and sustained close above Rs 763 could trigger fresh buying interest and open the doors for an upside move towards Rs 800. As long as the stock holds above Rs 710, the overall bias is likely to remain bullish, with traders keeping a close watch on the Rs 763 breakout level for further momentum.