Looking to buy? These 3 stocks deserve a spot in your portfolio; know why

Aakash Shah, technical research analyst at Choice Equity Broking, is bullish on the shares of Indigo Paints, Paytm, and Navin Fluorine

INDIGOPNTS

Buy INDIGOPNTS in Cash at ₹1,236 | Stop -loss SL ₹1,180 | Target ₹1,340

 

INDIGOPNTS is showing a strong bullish reversal followed by consolidation and resumption of trend after a sharp recovery from lower levels. The stock witnessed a high-momentum upside move in November, marking a clear change in character from corrective to trending price action.

 

Price has successfully reclaimed the 20 EMA and 50 EMA, with both averages now turning upward, indicating strengthening short-term momentum. The stock is also trading above the 100 EMA and 200 EMA, confirming a broader trend shift in favour of bulls. Recent price action shows higher lows near the short-term averages, highlighting sustained buying interest on dips.

 

Volume expanded significantly during the impulsive upside move, while the subsequent consolidation phase has seen relatively muted volume, suggesting healthy consolidation rather than distribution.

 

Structurally, the ₹1,180–1,200 zone acts as a key demand and support area, aligning with the rising EMA cluster. As long as price sustains above this region, the bullish structure remains intact and favours continuation toward the ₹1,300–1,340 resistance zone.

PAYTM

Buy PAYTM in Cash at ₹1,342 | Stop- loss ₹1,280 | Target ₹1,420

 

PAYTM continues to trade in a strong bullish continuation structure, maintaining its sequence of higher highs and higher lows on the daily timeframe. The stock has been consolidating near the highs after a sustained uptrend, indicating strength rather than exhaustion.

 

Price is firmly trading above the key EMA, with all moving averages aligned positively. The 20 EMA and 50 EMA are acting as immediate dynamic supports, reflecting strong short-term momentum and trend stability.

 

Volume behaviour remains constructive, with higher participation during bullish legs and comparatively lower volume during sideways consolidation, pointing toward institutional accumulation at higher levels.

 

From a structural standpoint, the ₹1,280–1,300 zone acts as a strong demand area, coinciding with the rising 50 EMA. Holding above this level keeps the bullish continuation setup valid and opens the path toward the ₹1,380–1,420 resistance zone.

NAVINFLUOR

Buy NAVINFLUOR in Cash at ₹6,156 | Stop-loss ₹5,800 | Target ₹6,500

NAVINFLUOR is displaying a strong trend continuation setup after a decisive breakout from its consolidation range. The stock has resumed its upward trajectory following a healthy correction and base formation.

 

Price is trading comfortably above the 20 EMA and 50 EMA, with both averages sloping upward, signalling renewed bullish momentum. The stock also remains well above the 100 EMA and 200 EMA, reinforcing the strength of the medium- to long-term trend.

 

Volume expanded during the breakout phase, confirming buyer conviction, while subsequent pullbacks have been shallow and supported near the rising moving averages—indicative of strong demand at lower levels.

 

Structurally, the ₹5,800 zone now acts as a key support area, aligning with the 50 EMA cluster. As long as price holds above this region, the bullish structure remains valid and favours continuation toward the ₹6,450–6,500 resistance zone.

 

(Disclaimer: This article is by Aakash Shah, technical research analyst at Choice Equity Broking. Views expressed are his own.)