Netweb Tech, IDBI Bank showing steady bullish trend; trading strategy here

Stocks to buy: Choice Equity Broking Technical Research Analyst Aakash Shah suggests Netweb Technologies, IDBI Bank, and SBI Life Insurance Company for buying

Stocks to Buy: Recommendations by Aakash Shah, Choice Equity Broking  Netweb Technologies 

Current market price: ₹3,636  Stop loss: ₹3,380  Target price: ₹3,900 

Netweb Technologies India Limited is showing a strong bullish continuation setup on the daily chart after consolidating for months under a falling trendline.  

Price has now decisively broken above this descending resistance with strong bullish candles and rising volume, indicating fresh accumulation and momentum. The stock is trading comfortably above the 20, 50 and 100-day exponential moving average (EMA) cluster, all turning upward and confirming strengthening trend structure. Immediate support lies near ₹3,380, which is the recent two-day swing low and also close to the breakout base, making it a logical stop level.  

 

As long as price sustains above this zone, the breakout remains valid and the next upside move toward the ₹3,900 resistance zone looks achievable. Overall structure, EMA alignment and volume behaviour support a continuation of bullish momentum.

SBI Life Insurance Company

Current market price: ₹2,080  Stop loss: ₹2,022  Target price: ₹2,173 

SBI Life Insurance Company Limited continues to maintain a steady uptrend on the daily timeframe with consistent higher highs and higher lows.  

The recent bounce has come from the 100-day EMA support, indicating strong demand at deeper moving-average levels and confirming the strength of the ongoing trend. Price is trading above the short-term EMA cluster, showing sustained bullish momentum and accumulation on dips.

  The logical stop is placed near the 50-day EMA around ₹2,022, which now acts as immediate dynamic support and risk control for the trade.  

As long as price holds above this level, the bullish structure remains intact. The upside target near ₹2,173 is projected from the 0.786 Fibonacci extension level, aligning with a prior resistance zone on the chart. Volume behaviour also suggests steady accumulation during pullbacks, supporting continuation toward higher levels if momentum sustains. 

IDBI Bank

Current market price: ₹112.8  Stop loss: ₹107.85  Target price: ₹124 

IDBI Bank Limited is showing a steady bullish trend with price trading above the 20, 50, 100 and 200 EMA stack, confirming strong trend alignment. The stock recently broke out of a consolidation range between 106, supported by improving volume, which indicates fresh accumulation and momentum expansion. 

Price structure continues to form higher lows, keeping the bullish bias intact. The upside target near ₹124 is projected from the Fibonacci extension zone and aligns with a prior resistance area on the chart. Immediate support lies near the 20-day EMA around ₹107.85, which also matches the recent consolidation base and acts as a logical stop level. 

As long as price sustains above this EMA support, the breakout structure remains valid and continuation toward higher levels is likely. 

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