Market Trading Guide: Buy Sona BLW, Jindal Stainless and Navin Fluorine on Friday for up to 10% potential upside

India’s benchmark indices, Nifty and Sensex, ended sharply higher on Thursday, boosted by strong buying in banking and automobile stocks. Bulls remained at the helm as the Nifty surpassed the crucial resistance of 25,500 during the day and also closed above it. Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the index has given a swing high breakout, indicating the possibility of a strong rally in the short term on the technical front. "The momentum indicator RSI is in a bullish crossover and rising. Overall, the short-term trend looks positive, with potential to move towards 25,750–25,800, while on the lower end, support is placed at 25,500," De said. Here are 3 stock recommendations for Friday: Stop Loss: Rs 772 Target: Rs 890 Shares of Jindal Stainless (JSL) showcase a bullish reversal from key support levels and the stock is forming a long-term rounding bottom pattern along with a higher high–higher low structure, signaling a continuation of its upward trajectory. After a brief consolidation phase, JSL is now on the verge of breaking above its recent swing high of Rs 820. A decisive breakout with strong volumes could trigger a near-term rally toward Rs 890 and potentially higher levels. Traders may consider a buy-on-dips near Rs 808.90. (Amruta Shinde, Research Analyst, Choice Broking) Stop Loss: Rs 445 Target of Rs 515 Sona BLW Precision Forgings has recently rebounded from a key support zone. The stock has broken out of a falling trendline on the daily timeframe while forming bullish candle patterns, signaling an early indication of a potential trend reversal. This breakout is further supported by rising volumes, reflecting renewed buying interest and improving market sentiment. Technically, it is trading comfortably above its 20-day and 50-day EMAs and is now approaching its 200-day EMA. A decisive close above this level will confirm a shift toward a sustained bullish trend. In the near term, Sona is likely to move toward Rs 515, with immediate resistance near Rs 493. Support lies at Rs 452. (Amruta Shinde, Research Analyst, Choice Broking) Stop Loss: Rs 4,875 Target: Rs 5,450 NAVINFLUOR is exhibiting signs of a strong bullish reversal and the stock has recently broken out of a falling trendline accompanied by the formation of a strong bullish candle, indicating renewed buying interest near its key support zone. Momentum remains robust, with the RSI at 65.99 and trending upward. A decisive close above Rs 5,140, backed by higher trading volumes, would further validate the breakout and signal the potential for continuation toward Rs 5450. On the downside, support is placed at Rs 4974, providing a favorable level for accumulation on minor pullbacks. (Amruta Shinde, Research Analyst, Choice Broking) Stop Loss: Rs 780 Target: Rs 850/880 Jindal Stainless (JSL) has given a breakout attempt from the horizontal resistance zone around Rs 805–810 after multiple rejections in the past, supported by steady volume buildup. The price is trading above all key moving averages, reflecting strong underlying trend strength. RSI at 62.60 indicates healthy momentum with scope for continuation on the upside. Sustaining above Rs 810 may lead to further bullish movement in the coming sessions. (Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio) Stop Loss: Rs 4,900 Target: Rs 5,250/5,400 Navin Fluorine International (NAVINFLUOR) has given a breakout above the falling channel pattern, indicating a potential reversal from the recent downtrend. The breakout is supported by strong volume confirmation, suggesting renewed buying interest. RSI at 65.99 reflects improving momentum and room for further upside if it sustains above key levels. Price has also moved above short-term EMAs, confirming strength in trend reversal. (Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)