Happiest Minds among 3 stocks with bullish trend on tech charts: Geojit

Stocks to buy: Anand James of Geojit Investments Ltd has recommended three stocks to buy today - Happiest Minds, IMFA, and Brigade Enterprises.

Disclaimer: Views and outlook in this report belong to the brokerages and analysts cited. They do not reflect the views of Business Standard. Readers are advised to exercise discretion.

 

Stocks to buy recommendations today from Anand James, Chief Market Strategist, Geojit Investments Ltd

 Happiest Minds: LTP ₹310

 View: Buy

 Target: ₹335

 SL: ₹298

 Happiest Minds is showing early signs of a recovery after a sharp correction at the start of the month. The stock appears to be forming a rounding bottom pattern on both the daily and weekly timeframes, suggesting that selling pressure is gradually easing and a base-building process may be underway. Recent price action indicates an attempt to reclaim the 20-DMA, which could act as an important trigger for further upside. 

 

 Momentum indicators are also turning supportive. The RSI is recovering from oversold territory, reflecting improving buying interest, while the Stochastic Fast line has crossed above the Slow line, often an early indication of a short-term trend reversal. In addition, the stock is attempting to move above the middle Bollinger Band, which could confirm strengthening momentum if sustained. 

 With multiple indicators pointing towards a potential rebound and downside pressure showing signs of exhaustion, the risk-reward setup appears favorable. As long as ₹298 holds, traders may consider accumulating the stock for a move towards ₹335 over the next few weeks. CHECK Stock Market LIVE Updates

 

Indian Metals and Ferro Alloys: LTP ₹1,192 View: Buy

 Target: ₹1,300

 SL: ₹1,160

 Indian Metals and Ferro Alloys (IMFA) is showing signs of a potential trend reversal after remaining under pressure and forming a series of lower highs since April. The stock has recently witnessed a break of structure, indicating that selling pressure may be easing and buyers are beginning to regain control. Price action has also formed a bullish reversal candle near support, suggesting renewed demand at lower levels.

 Momentum indicators have started turning favorable. The MACD has delivered a bullish crossover, while the histogram has begun printing reversal bars, signaling an improvement in momentum after a prolonged corrective phase. The stock has also bounced from a key Supertrend support zone and registered a PSAR breakout, reinforcing the bullish setup.

 Additionally, IMFA is attempting to reclaim its 20-DMA, a move that could trigger further buying interest if sustained. As long as ₹1,160 holds, traders may consider accumulating the stock for a move towards ₹1,300 over the next few weeks.

 

Brigade Enterprises: LTP ₹578

 View: Buy

 Target: ₹608

 SL: ₹559 

Brigade Enterprises is showing signs of a recovery after witnessing a sharp rebound from recent lows. The stock has formed a strong bullish Marubozu candle, indicating aggressive buying interest and a shift in momentum in favor of the bulls. The move has also resulted in a breakout above the 100-DMA and 200-DMA, a development that strengthens the medium-term technical structure.

 Momentum indicators are beginning to improve as well. The MACD histogram is printing reversal bars, suggesting that the recent bearish momentum is fading. In addition, the stock has registered a PSAR breakout, reinforcing the possibility of a near-term trend reversal.

 The recent surge in price after a period of weakness suggests buyers are regaining control near key support levels. As long as 559 holds, the bullish setup remains intact. Traders may consider accumulating the stock at current levels, with the improving momentum favoring an upside move towards 608 over the next few weeks.