Market Trading Guide: TBO Tek among 2 stock recommendations for Wednesday

Domestic equities ended higher on rising expectations of an India-US trade deal, with crude prices falling sharply following positive Asian cues and improved traffic at the Strait of Hormuz. Bond yields also fell sharply, supported by fresh capital inflows following recent debt market policy reforms.

Here are two stock recommendations for Thursday

TBO Tek – Buy | Purchase Area: Rs 1,512 | Stop-Loss: Rs. 1,390 | Target: Rs. 1,600-1,700

TBO Tek has made a strong reversal after breaking above its long-term moving average and is now consolidating in the 1,430–1,510 range following a sharp bounce. The stock is trading above the 20, 50 and 100-day EMAs, while the RSI is near overbought levels near 70, showing strong bullish momentum. The current consolidation looks constructive and suggests accumulation before the next leg higher. Traders may consider buying at CMP of 1,512 with a stop loss at 1,390 and adding on dips near 1,450–1,470. A decisive breakout above 1,520 could trigger fresh buying, paving the way for targets above 1,600 and 1,700 in the coming weeks, while the overall technical framework remains decidedly positive.

Virat Jagad, Senior Technical Research Analyst, at Bonanza Portfolio

Blue Jet Healthcare – Buy | Purchase Area: Rs 549 | Stop-Loss: Rs 495 | Target: Rs. 585-620

Blue Jet Healthcare has confirmed a bullish breakout above the key 500-510 resistance zone, supported by strong price action and steady volume, indicating renewed buying interest. The stock is trading comfortably above its 20, 50, 100 and 200-day EMAs, reinforcing a strong medium-term uptrend, while RSI near 69 reflects healthy momentum without overbought. A breakout indicates a potential upside after a brief consolidation. Traders may consider buying at CMP of 549 and add on dips with a stop loss of 520-525 near 520-525. On the upside, the stock is likely to test 580 initially, followed by 620 in the coming weeks, as long as it holds above the breakout zone.

Virat Jagad, Senior Technical Research Analyst, at Bonanza Portfolio

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)