Trading ideas today: South Indian Bank, Suryoday SFB, Apollo Hospitals

Kunal Kamble of Bonanza has recommended three stocks to buy today - Suryoday Small Finance Bank, South Indian Bank and Apollo Hospitals.

Stocks to buy today: Recommendations by Kunal Kamble of Bonanza

Suryoday Small Finance Bank Ltd

Suryoday Small Finance Bank has generated a strong bullish breakout above a multi-year descending trendline resistance near ₹165–168, supported by a sharp price surge and improved trading volumes, signaling a potential trend reversal after a prolonged consolidation phase. The stock is trading above all key moving averages, with the 20, 50, 100, and 200-day EMAs positively aligned, reflecting strengthening trend momentum. The breakout from the long-term symmetrical triangle pattern significantly improves the technical outlook and suggests the beginning of a fresh uptrend. Momentum indicators remain supportive, with RSI holding above 60 and maintaining a positive bias. Sustaining above ₹165 can pave the way for further upside towards ₹195 and ₹200 levels, while ₹155 remains a crucial support zone. Overall, the risk-reward profile appears favorable, making the stock attractive for accumulation from a medium-term investment perspective. 

 

Buy: ₹170

Stop loss: ₹150

Target: ₹195  READ | Analyst shares Nifty strategy; recommends Apollo Hospitals, Federal Bank

South Indian Bank Ltd

South Indian Bank has delivered a decisive breakout above the key resistance zone near ₹42–43, supported by strong price action and improving volumes, indicating fresh buying interest and the potential start of a new upward leg. The stock is trading above all major moving averages, with the 20, 50, 100, and 200-day EMAs aligned positively, confirming a strong bullish trend. The breakout from the ascending structure strengthens the medium-term outlook, while the RSI has surged above 67, reflecting robust momentum and increasing investor participation. Sustaining above 43 can pave the way for further upside towards ₹40 and ₹52 levels. On the downside, ₹40 remains a crucial support zone. Overall, the technical setup remains constructive, with favorable risk-reward dynamics supporting a bullish investment stance. 

Buy: ₹44

Stop loss: ₹40

Target: ₹52  READ | Stocks to buy today: J&K Bank, DMart among top picks by analyst

Apollo Hospitals Enterprise Ltd

Apollo Hospitals Enterprise has generated a strong bullish breakout above the key resistance zone near ₹8,200, supported by a robust price structure and sustained trading activity, reinforcing the continuation of its long-term uptrend. The stock is trading comfortably above all major moving averages, with the short-, medium-, and long-term EMAs positively aligned, indicating strong trend strength. Price action within the rising channel remains constructive, while the RSI is holding above 60, reflecting healthy momentum without entering extreme overbought territory. The recent breakout signals fresh buying interest and increases the probability of a move towards ₹8,800–9,300 in the coming months. Investors may consider accumulating the stock on dips, with ₹8,000 acting as a crucial support level to maintain the bullish outlook and favorable risk-reward profile. 

Buy: ₹8,300

Stop loss: ₹7,800

Target: ₹9,300 

==========================

Disclaimer: This article is written by Kunal Kamble, sr. technical research analyst at Bonanza. Views expressed are his own. Readers' discretion is advised.