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9 hours ago
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May 12, 2026, 08:14:24 PM IST
Nifty ended with deep cuts on Tuesday, extending its losing streak for the fourth day in a row amid significant selling across the board but more prominently in IT, banks, auto and consumer stocks
Commenting on the technical trends, Rupak De, Senior Technical Analyst at LKP Securities, said the index has continued to decline as bears tighten their grip on the Indian market. Nifty has further broken away from its recent consolidation range, indicating rising weakness in the trend. "The RSI continues to remain in a bearish crossover and is trending lower, reflecting sustained negative momentum. Overall sentiment appears extremely bearish, with the potential to drag the index towards 23,200–23,150 in the near term, from where a meaningful recovery might come. On the higher side, resistance is placed at 23,600, above which sentiment might improve," De said.
Here are 5 stocks to buy:
TIMESOFINDIA.COM
2/6
Buy: Balrampur Chini at Rs 534.15 | Upside: 8%
Stop Loss: Rs 518
Target: Rs 560-575
Balrampur Chini Mills has witnessed a bullish continuation breakout from a short-term consolidation pattern near Rs 530 levels, supported by improving price action and sustained trading above the 20-day EMA placed around Rs 521, indicating positive trend strength. RSI is holding near 62 with a bullish crossover, reflecting strengthening momentum without entering overbought territory. Volume participation has also improved during the recent up move, highlighting buying interest. Traders may consider fresh longs above Rs 536 for targets of Rs 560 and Rs 575, while maintaining a stop loss at Rs 518.
(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)
ETMarkets.com
3/6
Buy OneSource Specialty Pharma at Rs 1,830.2 | Upside: 9%
Stop Loss: Rs 1,755
Target: Rs 1,920-2,000
OneSource Specialty Pharma has resumed its bullish momentum after a strong recovery from lower levels and is currently sustaining above the 20-day EMA near ₹1,755, indicating continuation of the prevailing uptrend. The stock is witnessing a consolidation breakout around ₹1,825–1,830 with RSI holding near 68 and trending upward, reflecting strong momentum. Volume activity remains supportive during the recent rally, confirming buying participation. Traders may consider fresh longs above ₹1,835 for upside targets of Rs 1,920 and Rs 2,000, while maintaining a stop loss at Rs 1,755.
(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)
ETMarkets.com
4/6
Buy Vardhman Textiles at Rs 616 | Upside: 10%
Target: Rs 675Stop Loss: Rs 580
VTL has done something technically significant — it has broken out of a massive multi-year descending triangle, a pattern that had capped the stock since its 2022 peak near Rs 575. The breakout above that resistance, now at all-time highs, signals a potential secular trend reversal on the weekly chart. Price is firmly above the 200 DMA, with the RSI surging past 70, reflecting strong and sustained momentum. With a clean breakout and capacity-driven growth on the horizon, VTL looks poised for a fresh re-rating.
(Himanshu Gupta, Head of Research - Retail Broking (AVP), Jainam Broking)
ETMarkets.com
5/6
Buy Biocon at Rs 403.75 | Upside: 11%
Target: Rs 430-450Stop Loss: Rs 378
After months of consolidation near Rs 350 – Rs 380, Biocon has broken out decisively above the ₹400 mark on strong volume — a classic sign of institutional accumulation. The recent price action shows a strong surge off a higher low, confirming that the series of lower lows that characterized the stock's mid-cycle correction has been decisively broken. This shift in market structure — from distribution to accumulation — is a classic early signal of a new uptrend.
The technicals are backed by a stellar Q4 FY25 — net profit surged 153% YoY to Rs 344 crore, while revenue grew 12% to Rs 4,454 crore. The Generics segment led the charge with a 46% revenue jump, powered by new U.S. launches of Lenalidomide and Dasatinib. With momentum, structure, and fundamentals aligned, dips toward Rs 385 – Rs 390 offer a favorable entry for medium-term investors.
(Himanshu Gupta, Head of Research - Retail Broking (AVP), Jainam Broking)
ETMarkets.com
6/6
Buy CG Power at Rs 836 | Upside: 8%
Target: Rs 900Stop Loss: Rs 800
CG Power and Industrial Solutions Ltd has exhibited a strong bullish continuation pattern, supported by sustained price expansion and improving participation across both trend-following and momentum indicators. The stock made a new 52 week high around 886 after decisively breaking above the recent consolidation band around Rs 820–830. The bullish price objective remains active as the stock trades comfortably above its key support zone near Rs 760–780. The OHLC structure further confirms the strength of the ongoing rally, with price trading above the 20-day and 50-day moving averages while consistently respecting rising support levels. RSI which had positioned above 70, signaling strong momentum, though short-term overbought conditions have triggered a brief consolidation of two which is providing a good buying opportunity.
(Himanshu Gupta, Head of Research - Retail Broking (AVP), Jainam Broking)
ETMarkets.com
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