Market Trading Guide: Wipro among 5 stock recommendations for Thursday

Indian equities gave up strong early gains as elevated crude prices and continued FII selling overshadowed optimism surrounding India-US trade negotiations. Profit-booking intensified across autos, financials, metals and realty, reflecting concerns over inflation and margin pressures, while IT showed relative resilience amid improving earnings visibility and renewed investor appetite for the sector. Analysts say resilient Q2 earnings and robust domestic institutional flows remain important market supports, but weak breadth and persistent foreign selling point to continued caution.

Here are 5 stock recommendations for Thursday:

Stop loss: Rs 180

Target: Rs 205

Wipro has given a bullish breakout from a descending channel pattern on the daily chart, followed by a healthy retracement and a strong closing candle, indicating renewed buying interest. The stock is trading above its 20-day, 50-day and 100-day EMAs, supporting the positive price structure. The RSI stands at 72.86, indicating strong bullish momentum, although the stock is in the overbought zone and may witness some short-term volatility.

Sachin Gupta, VP – Technical Research, Choice Equity Broking

Stop loss: Rs 70

Target: Rs 78

NHPC is trading near a major support zone on the weekly chart and has rebounded from the 200 EMA, indicating buying interest at lower levels. The stock is attempting to recover from this support area, while the Rs 78 level may act as a key upside target and also coincides with resistance near the 100 EMA. The weekly RSI stands at 41.03, indicating relatively weak momentum, although a sustained recovery could support further upside.

Sachin Gupta, VP – Technical Research, Choice Equity Broking

Stop loss: Rs 42

Target: Rs 48

Sagility has formed a bullish pin bar candle on the daily chart near a rising trendline, which is acting as a major support zone and indicates buying interest at lower levels. The stock is trading above all the key moving averages, supporting the positive price structure. The RSI stands at 50.45, indicating neutral momentum with scope for further improvement if buying interest sustains.

Sachin Gupta, VP – Technical Research, Choice Equity Broking

Stop loss: Rs 3800

Target: Rs 4400

LTTS shows strong bullish momentum, closing at Rs 3,996.3 with a 10.66% surge and a decisive breakout above the Rs 3,843 resistance. Heavy volume confirms strong buying interest, while RSI at 74.80 indicates strength but also overbought conditions. Price is above all four EMAs, supporting a bullish trend. Consider staggered entry near Rs 4,000, with strict stop-loss discipline.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

Stop loss: Rs 570

Target: Rs 675

HEXT shows a bullish breakout, closing at Rs 604.60 with a 5.28% gain above the Rs 580 resistance zone. A sharp volume expansion confirms strong participation, while RSI at 75.69 signals powerful momentum but elevated overbought risk. Price has crossed all four EMAs, indicating improving trend strength. Consider buying near Rs 605 only if momentum sustains, with a strict stop-loss at Rs 570.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.