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Prachi Mehta

20th Mar 2025 · SEBI-Registered Analyst

Stocks to watch today : 20 March 2025

INDIGO
has witnessed a significant surge in price and volume during the last trading session, breaking out from its downward sloping line on the daily chart. The stock has also surpassed its previous swing high of Rs 5,035, indicating a continuation of its uptrend. Furthermore, the 14-period RSI has displayed a positive crossover, aligning with the recent price action and reinforcing the bullish outlook. Consider buying on dips around Rs 4,800-4850, with a stop loss at Rs 4,560 and a target of Rs 5,350 in the near term.
PIDILITIND
has been consolidating sideways for the past two weeks, showing no clear directional bias. On the weekly chart, it has encountered significant resistance in the Rs 2,790-2,820 range near its 100-week SMA. The repeated formation of doji candlestick patterns on the weekly chart indicates market indecision. Conversely, a key support base has formed around the Rs 2,600 level, near its 200-week SMA. Therefore, a decisive breakout in either direction is eagerly anticipated to establish a clear trend.
JSWSTEEL
has demonstrated a descending trendline breakout after consolidation and is currently trading comfortably above all its key moving averages on the daily chart. Daily RSI has given a bullish crossover on the daily chart reinforcing the given breakout. The overall trend appears to be upward and minor upcoming fluctuations are likely to provide a favorable environment for buyers. Hence, we recommend Buying JSW Steel on a dip around Rs 1,000-1,010 keeping a stop loss of Rs 970 on a closing basis for a potential target of Rs 1,090.

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