Stocks to buy today: Anand James of Geojit bullish on Protean, 2 others

Disclaimer: This article is written by Anand James, Chief Market Strategist, Geojit Investments. Views expressed are his own. Readers' discretion is advised.  KFINTECH (LTP: 949)

View: Buy

Target: ₹995 – 1010

SL: ₹927

 

KFIN Technologies has delivered a strong technical breakout, closing at ₹949.25 with a sharp Bullish Marubozu candle, reflecting dominant buying interest throughout the session. The stock has decisively surpassed a key horizontal resistance zone, indicating the end of a prolonged consolidation phase and opening the door for a fresh uptrend.

 

The breakout is backed by a significant surge in volumes, lending credibility to the move and suggesting strong institutional participation. Momentum indicators are also turning favorable, with the MACD witnessing a bullish signal-line crossover, often considered an early indication of strengthening upward momentum. Additionally, RSI has moved higher, supporting the improving price structure.

 

 

With the price now trading above a major resistance area, the breakout level is expected to act as strong support on any near-term pullback. Sustaining above this level could trigger follow-through buying, paving the way for higher levels in the coming sessions. KFINTECH has a potential upside target of 995-1,010 and a stop loss at 927. Traders may adopt a buy-on-dips strategy.

 

HAPPSTMNDS (LTP: 388)

View: Buy

Target: ₹410

SL: ₹375

 

HAPPSTMNDS is showing encouraging signs of a trend reversal after breaking above a key declining trendline resistance, indicating a potential shift in sentiment from bearish to bullish. The breakout follows an extended corrective phase and suggests that selling pressure may be easing.

 

Momentum indicators are also turning supportive, with MACD registering a bullish signal-line crossover, pointing to improving price momentum and increasing the probability of follow-through buying. On the higher time frame, the stock has formed multiple Doji candles on the monthly chart, highlighting indecision near lower levels and signaling that the downtrend may be losing strength.

 

Adding to the constructive setup, the monthly RSI is hovering near the oversold region, suggesting limited downside and the possibility of a medium-term rebound as momentum gradually recovers. The recent improvement in price action reinforces this positive outlook. With trendline resistance now breached and momentum indicators aligning in favor of the bulls, HAPPSTMNDS appears well-positioned for a recovery move towards 410 in the next few weeks. All longs may be protected with a stop-loss placed below 375.

 

PROTEAN (LTP: 625)

View: Buy

Target: ₹670

SL: ₹608

 

PROTEAN has turned technically strong after delivering a decisive breakout from a narrowing wedge pattern, a formation that often signals the end of a consolidation phase and the beginning of a fresh directional move. The breakout is supported by a strong bullish candle, indicating renewed buying interest and improving market sentiment.

 

Momentum indicators further strengthen the bullish case. The MACD has witnessed a bullish signal-line crossover, suggesting a shift in momentum in favor of the bulls and increasing the likelihood of sustained upside. At the same time, the RSI has moved close to the 60 mark, reflecting healthy momentum without entering overbought territory.

 

The breakout from the wedge pattern also marks a breach of lower highs that had been restricting price movement over the past few weeks. Sustaining above the breakout zone could attract additional buying interest and trigger a continuation of the emerging uptrend. Overall, the technical setup appears constructive, with price action, momentum indicators, and pattern confirmation aligning positively, which increases the expectation of a move towards 670 in the next few weeks. Protect longs with a stop-loss placed below 608.