Top stocks to buy today, Oct 30: Adani Green, Varun Beverages and more

Kunal Kamble, senior technical research analyst at Bonanza, has recommended buying shares of Adani Green Energy, Varun Beverages, Graphite India today

Stock Recommendations

  Adani Green Energy

Adani Green Energy has shown strong technical strength after a throwback toward the breakout zone of its symmetrical pattern, followed by the formation of a bullish candle with high volume, signaling renewed buying interest. The stock has sustained above major EMAs, confirming a bullish price structure and continuation of the uptrend. On the momentum front, the RSI, after a brief cooldown, has turned upward, aligning with the positive price action and indicating growing strength.

 

Technically, the stock can be accumulated in the range of ₹1,112.60–₹1,047.50 with a stop loss at ₹993 for an upside target of ₹1,247–₹1,350 in the short to medium term.

 

Buy Range: ₹1,112.60–₹1,047.50 

Stop Loss: ₹993

Target: ₹1,247–₹1,350

Varun Beverages

Varun Beverages share has formed a Descending Triangle pattern on the daily timeframe and recently took support near the 20 EMA, where it closed with a strong full-body bullish candle accompanied by rising volume, indicating renewed buying interest at current levels. The increase in volume confirms active participation from buyers, suggesting potential momentum buildup. On the momentum front, the RSI is trending northward, reinforcing the bullish price action. 

 

Technically, fresh entry can be considered at ₹502 with a stop loss at ₹450 for an upside target of ₹600–₹620, indicating a favorable risk-reward setup for short- to medium-term traders.

 

Buy Range: ₹502

Stop Loss: ₹450

Target: ₹600–₹620

Graphite India

Graphite India stock has given a breakout of an Inverse Head and Shoulder pattern on the daily timeframe, signaling a potential trend reversal. On the weekly timeframe, the stock has also formed a Cup and Handle pattern, further confirming the strength of the uptrend. The stock has taken support near the 50 EMA, which will act as a strong support zone going forward. The rise in volume during the breakout highlights strong buyer participation and accumulation interest. On the momentum front, the RSI is trading in the higher range, indicating sustained strength and positive momentum in the stock.

 

Technically, the stock can be accumulated in the range of ₹630–₹600 with a stop loss at ₹545 for an upside target of ₹750–₹800 in the short to medium term.

 

Buy Range: ₹630–₹600

Stop Loss: ₹545

Target: ₹750–₹800  (Disclaimer: This article is by Kunal Kamble, senior technical research analyst at Bonanza. Views expressed are his own)