 "Tarc, Karur Vysya Bank, Apl Apollo: Top technical stock picks by analyst")
Stocks to Buy: Recommendations by Aakash Shah of Choice Equity Broking
TARC
Buy TARC in Cash at ₹160, Stop-loss: ₹153, Target: ₹173
TARC is showing a clear trend reversal setup after a prolonged decline. The price action on the daily chart has formed an Inverse Head and Shoulders pattern, indicating a structural shift from bearish to bullish momentum. The recent breakout above the neckline confirms the pattern, supported by strong bullish candles.
Price has reclaimed the 20 EMA and 50 EMA, with both averages turning upward, reflecting strengthening short-term momentum. The stock is also trading near the 100 EMA, and sustained acceptance above this level would further validate trend continuation. Volume has expanded during the neckline breakout, while pullbacks were accompanied by lower volume, highlighting accumulation behaviour.
Structurally, the right shoulder base around 148–150 now acts as a key demand zone. As long as price holds above this area, the inverse head and shoulders breakout remains valid and favours continuation toward the 170–175 resistance zone.
KARURVYSYA
Buy KARURVYSYA in Cash at ₹262, Stop-loss: ₹250, Target: ₹281
KARURVYSYA is in a well-defined uptrend after completing a prolonged base and transitioning into a higher-high, higher-low structure. The stock has recently broken above its prior consolidation range near 250–255, confirming trend continuation rather than a pullback move.
Price is trading above the key EMAs, with all key averages aligned positively and sloping upward, reflecting strong trend strength and sustained momentum. The 20 EMA is acting as immediate support, while the 50 EMA continues to provide a strong dynamic demand zone on minor corrections.
Volume has shown expansion on upside moves, especially during the recent breakout, while corrective phases have seen relatively lower volume, indicating healthy accumulation and controlled supply. Structurally, the stock is holding above the 250 support zone, which coincides with the rising 20 EMA and previous breakout area. As long as price sustains above this level, the overall structure remains constructive and favors continuation toward the 281–285 resistance zone.
APLAPOLLO
Buy APLAPOLLO in Cash at ₹1,886, Stop-loss: ₹1,818, Target: ₹2,425
APLAPOLLO is showing renewed bullish momentum after a prolonged consolidation phase on the daily chart. The stock has moved out of a sideways-to-corrective structure and is now attempting to resume its primary uptrend with higher price acceptance.
Price action shows a strong expansion move from the recent base near 1,800–1,820, followed by steady continuation toward prior highs. The structure reflects higher lows, indicating that buyers are defending dips and gradually pushing price higher. Volume has expanded on the recent up-move, confirming participation on the upside, while the consolidation phase was marked by relatively lower volume, suggesting absorption rather than distribution. RSI has moved into the mildly overbought zone near 73, reflecting strong momentum.
However, in established uptrends, RSI sustaining in the 65–75 range often signals trend strength rather than exhaustion, and the indicator continues to hold above its prior support, keeping momentum biased to the upside. The stock remains a buy at CMP. The recent swing high is placed near 1,936, which acts as an immediate resistance. However, the prevailing price structure and momentum setup suggest strong acceptance at higher levels, increasing the probability of a decisive breakout above 1,936 with volume, which would confirm fresh all-time high price discovery and open the path toward the 2,020 target zone.
Overall, the setup reflects trend continuation with controlled momentum, favouring higher levels as long as key support holds.
(Disclaimer: This article is by Aakash Shah, technical research analyst at Choice Equity Broking. Views expressed are his own.)