Apollo Tyres, Deepak Fert among top stocks to buy today; check key levels

Kunal Kamble, senior technical research analyst at Bonanza, has recommended buying shares of Syrma SGS Technology, Deepak Fertilisers, and Apollo Tyres today

Syrma SGS Technology

Syrma SGS Technology is exhibiting a strong bullish structure with a consistent formation of higher highs and higher lows (HH & HL) on the daily timeframe. After a brief throwback towards the 21 EMA, the stock has shown a healthy bounce, confirming that the 21 EMA is acting as a dynamic support zone.  Price action remains aligned with the short- and medium-term moving averages, indicating trend strength. Volumes have also supported the recent upmove, adding conviction to the bullish sentiment. Momentum indicators such as RSI are sustaining in the higher zone, reflecting continued buyer interest.

 

Trading levels: 

  Entry Zone: Current levels 

Stop Loss: ₹790 

Upside Target: ₹990 – ₹1,000

 

As long as the stock holds above ₹790, dips should be considered as buying opportunities for a continuation of the uptrend.

Deepak Frtlsrs and Ptrchmcls Corp

Deepak Fertilisers has given a breakout from the falling parallel channel on the daily timeframe, signaling a shift in trend from corrective to bullish. The breakout is supported by a notable rise in volume, which adds strength to the move. 

The stock has reclaimed short-term EMAs, and momentum indicators like RSI are turning upward, confirming the buying strength. The ADX and DI+ crossover further validate the improving trend dynamics.

 

Trading levels: 

Entry zone: Current levels 

Stop loss: ₹1,440 

Upside target: ₹1,675 – ₹1,787

 

Any dips towards the breakout zone can be considered as fresh buying opportunities for continuation of the upmove.

Apollo Tyres

Apollo Tyres has given a breakout from its Inverse Head and Shoulders pattern . The stock closed with a positive bias on higher volumes after a throwback, indicating strong buying interest. The price is trading above all major EMAs, confirming the bullish momentum. Additionally, the RSI has broken above its resistance, supporting the price action. The directional indicator shows DI+ above DI-, signaling a continued uptrend.

 

Trading levels: 

Buy Range: ₹490-₹494 

Stop Loss: ₹470 

Target: ₹530-₹560

 

(Disclaimer: Kunal Kamble is a senior technical research analyst at Bonanza. Views expressed are his own.)