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Trade Spotlight: How should you trade Universal Cables, Marico, Bharat Forge, Fabtech Technologies, Nuvama Wealth, AGI Infra, and others on November 17?

16 Nov , 2025   By : Debdeep Gupta


Trade Spotlight: How should you trade Universal Cables, Marico, Bharat Forge, Fabtech Technologies, Nuvama Wealth, AGI Infra, and others on November 17?

Equity benchmarks gained strength in late trade after weakness amid volatility, with the Nifty 50 closing 0.1 percent higher on November 14. The market breadth was skewed in favour of bears, with 1,590 shares declining against 1,260 advancing shares on the NSE. The market trend remains upward, but it requires a strong and sustainable close above last week's high for further upward movement. Below are some short-term trading ideas to consider:


Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities


Lupin | CMP: Rs 2,055.3


With the current weekly close, Lupin has decisively surpassed the past one-year down-sloping trendline resistance of Rs 2,015 on a closing basis. The rising volumes over the past couple of weeks signify increased participation. The daily and weekly Bollinger Band buy signals indicate strengthening momentum.


The daily, weekly, and monthly RSI indicators also point to rising strength. The stock is positioned well above its 20-, 50-, 100-, and 200-day SMAs, which reconfirms a bullish trend. Investors should consider buying, holding, and accumulating this stock.


Strategy: Buy


Target: Rs 2,150, Rs 2,220


Stop-Loss: Rs 2,030


Universal Cables | CMP: Rs 860.5


On the weekly chart, Universal Cables has confirmed an inverse head-and-shoulders pattern at Rs 813 on a closing basis, accompanied by heavy volumes. The daily and weekly Bollinger Band buy signals signify increased momentum.


The daily and weekly RSI indicators reflect rising strength. The stock is positioned well above its 20-, 50-, 100-, and 200-day SMAs, all of which are inching up along with the price rise, reconfirming the bullish trend. Investors should consider buying, holding, and accumulating this stock.


Strategy: Buy


Target: Rs 940, Rs 1,005


Stop-Loss: Rs 813


Bharat Forge | CMP: Rs 1,396.7


With the current week’s strong price action, Bharat Forge has surpassed multiple resistance zones around Rs 1,365 on a closing basis. This breakout is supported by heavy volumes, confirming increased participation. The stock is positioned well above its 20-, 50-, 100-, and 200-day SMAs, and these averages are steadily rising along with the price, which reconfirms the bullish trend. Investors should consider buying, holding, and accumulating this stock.


Strategy: Buy


Target: Rs 1,470, Rs 1,550


Stop-Loss: Rs 1,365


Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One


Jio Financial Services | CMP: Rs 314.9


Jio Financial Services has shown a decent correction over the past couple of trading weeks, retesting the 200-day EMA on the daily chart. Although the stock has gained significant traction in the last couple of sessions, this has been accompanied by a positive crossover in the 14-day RSI, which lifted it above all its EMAs on the daily chart.


Additionally, the stock has shown a ‘descending trendline’ breakout, adding to the bullish outlook. The risk-reward ratio at the current level appears favourable, creating an opportunity from a medium-term perspective. Hence, we recommend buying Jio Financial Services around Rs 310.


Strategy: Buy


Target: Rs 336


Stop-Loss: Rs 295


Life Insurance Corporation of India | CMP: Rs 909.45


Life Insurance Corporation of India has been in strong consolidation and has recently seen volume traction, suggesting the early signs of a base formation. The stock has been hovering above all its significant EMAs after testing the bullish gap on the daily chart, with favourable technical parameters.


The SuperTrend indicator signals a bullish setup, followed by a positive crossover of the 14-day RSI, indicating bullish sentiment. Hence, we recommend buying LIC around Rs 900.


Strategy: Buy


Target: Rs 960


Stop-Loss: Rs 870


Marico | CMP: Rs 737.8


Marico has seen a retracement in recent times, followed by higher lows on the daily chart. The stock has been hovering slightly above its 20-day EMA, with a bullish bias. Additionally, the stock has exhibited a higher low formation on the daily chart and has shown a positive crossover on technical indicators, further enhancing the bullish sentiment.


On the indicator front, the MACD signal line has shown a positive crossover near the zero line. From a risk-reward point of view, the stock is well-aligned with a favourable setup for the short to medium term. Hence, we recommend buying Marico around Rs 730.


Strategy: Buy


Target: Rs 780


Stop-Loss: Rs 700


Anshul Jain, Head of Research at Lakshmishree Investments


Nuvama Wealth Management | CMP: Rs 7,339.5


Nuvama is setting up a textbook bullish Cup & Handle pattern on the daily charts, which has formed over 73 days, signaling strong accumulation. What makes this pattern even more compelling is the handle formation on low volumes, along with four inside bars, indicating volatility contraction before a potential expansion.


The prior rally towards the neckline came on heavy institutional volumes, confirming that strong hands are actively building positions. A decisive breakout above Rs 7,350 can unleash fresh momentum, opening the path toward the Rs 8,000 zone initially.


Strategy: Buy


Target: Rs 8,000


Stop-Loss: Rs 7,139


Fabtech Technologies | CMP: 246.5


Fabtech has delivered a powerful IPO-base breakout at Rs 199, catapulting to a new all-time high of Rs 262.8 and forming a clean, vertical pole. Over the last 12 sessions, the stock has been constructing a tight flag, one of the most reliable continuation patterns. With the price consolidating near the highs, there’s no meaningful supply overhead, keeping the path clear for another leg up.


A breakout above Rs 251 could trigger fresh momentum, with Rs 299 emerging as the next notable target and resistance. Strong volumes during the pole indicate institutional participation, while the controlled volume contraction in the flag makes the setup even more bullish.


Strategy: Buy


Target: Rs 299


Stop Loss : 225


AGI Infra | CMP: Rs 256.15


AGI Infra is showing classic bullish tightening action after a sharp shakeout, carving out four inside bars that indicate consolidation is almost complete. Volumes have dried up significantly — a textbook sign of strong hands absorbing supply after a heavy-volume pole and shakeout. This low-volume coil reflects quiet accumulation rather than weakness.


A push above Rs 260 could trigger the first upward move, while a decisive breakout above Rs 277 may ignite momentum toward the Rs 299 all-time high. A clear move beyond that opens room toward the Rs 310 psychological mark.


With its structure, volume behaviour, and compression, AGI Infra is shaping into a high-quality bullish setup ready to fire.


Strategy: Buy


Target: Rs 310


Stop-Loss: Rs 230



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