Angel One Limited’s equity technical analyst Rajesh Bhosale has recommended buying NTPC Limited, Petronet LNG Limited and Graphite India Limited, citing technical breakout signals and the potential for short-term gains.
Indian equity markets are expected to begin the week on a positive note, supported by strength in Gift Nifty and improving risk sentiment in global markets. Global market sentiment improved after the US Supreme Court rejected certain tariff rules of former President Donald Trump.
Against this backdrop, Rajesh Bhosale of Angel One Limited has identified NTPC Limited, Petronet LNG Limited and Graphite India Limited as buy candidates based on technical indicators.
NTPC Limited closed at Rs 373 in the previous session. On the weekly chart, the stock has moved above its March 2025 high, indicating a breakout from a long-standing pattern. On the daily chart, a flag pattern breakout is visible. The RSI is above 60, indicating bullish momentum.
According to the analyst, NTPC Limited can be bought in the range of Rs 373 to Rs 370, with a stop loss at Rs 362 and a target price of Rs 393.
Petronet LNG Limited closed at Rs 306 in the previous session. The daily chart shows a breakout from an inverse head and shoulders pattern. An increase in volume was observed during the breakout. The stock is trading above its 20-day, 50-day and 200-day moving averages.
The analyst has advised buying Petronet LNG Limited in the range of Rs 306 to Rs 302, with a stop loss at Rs 294 and a target of Rs 330.
Graphite India Limited closed at Rs 692 in the previous session. The stock had been trading within a range for nearly eight years and has now registered a breakout on the monthly chart. The daily chart indicates a rounding pattern formation. During upward moves, volumes have been higher, while declines have been accompanied by lower volumes.
The analyst recommends buying Graphite India Limited in the range of Rs 692 to Rs 685, with a stop loss at Rs 660 and a target price of Rs 750.
