Paytm, Tata Chemicals, Havells India shares may deliver short term gains: Religare

Indian equity benchmarks closed almost unchanged in a volatile trade on Tuesday as gains in quick commerce and private banking shares were offset by losses in energy and technology shares. The 30-share BSE Sensex pack edged down 14 points or 0.02 per cent to settle at 82,187, while the broader NSE Nifty index shed 30 points or 0.12 per cent to close at 25,061. The broader market witnessed a sharper decline, with the BSE MidCap100 falling 0.61 per cent and the SmallCap100 dropping 0.34 per cent.

Looking ahead, select buzzing stocks like One 97 Communications Ltd (Paytm‘s parent), Tata Chemicals Ltd and Havells India Ltd are expected to remain in focus among traders in the next trading session on Wednesday. Here’s what analysts from Religare Broking suggest for short-term trading:

Paytm | Last trading price (LTP): Rs 1,051.05 | Buy | Target : Rs 1,125 | Stop loss: Rs 1,010

Paytm has broken above its previous swing high and successfully closed above that level, accompanied by increased trading volumes — an indication that the short-term uptrend remains intact. The stock continues to respect the upward-sloping trendline, which is currently acting as a strong support zone. Traders may consider initiating long positions within the suggested price range.

Tata Chemicals | LTP: Rs 962.65 | Buy | Target: Rs 1,025 | Stop loss: Rs 927

After retesting its medium-term moving average, Tata Chemicals has managed to hold its gains while consolidating within a narrow range of Rs 900–950. The stock has now broken above the upper boundary of this range, accompanied by a noticeable rise in volumes — indicating a breakout following a period of accumulation. The price structure reflects strengthening momentum and we expect the recovery to continue. In the short term, this offers a buying opportunity within the mentioned range.

Havells India Limited | LTP: Rs 1,578.60 | Buy | Target: Rs 1,685 | Stop loss: Rs 1,520

Following an extended corrective phase, Havells is exhibiting signs of reversal, having formed a base near the breakout point of its declining trendline. The stock entered a base-building spell while reclaiming the 200-day EMA. The price action, supported by a notable surge in volumes, signals a steady upward path ahead, making this an opportune moment to initiate or add long positions in the mentioned range.