Trade Spotlight: How should you trade RBL Bank, Coromandel International, PI Industries, TD Power, HDFC AMC, Cochin Shipyard and others on July 31?

About this update from Td Power Systems Limited

Equity benchmarks closed the range-bound session with marginal gains on July 30, with market breadth slightly favouring the bulls. A total of 1,355 shares advanced compared to 1,299 shares that were under pressure on the NSE. The consolidation is expected to continue as long as the frontline indices trade below the 50-day EMA. Below are some short-term trading ideas to consider:Rupak De, Senior Technical Analyst at LKP SecuritiesRBL Bank | CMP: Rs 261.75RBL Bank has moved higher after a brief correction, giving a consolidation breakout on the daily timeframe. It is sustaining above the critical 50 EMA, indicating an uptrend. The RSI has entered a bullish crossover. Based on the technical setup, we expect the uptrend to continue in the short term.Strategy: BuyTarget: Rs 282Stop-Loss: Rs 249AstraZeneca Pharma | CMP: Rs 9,340AstraZeneca Pharma has broken out after a consolidation phase on the daily timeframe, reflecting rising optimism. It is trading above the 50 EMA, confirming an uptrend. The RSI has entered a bullish crossover. As long as the stock holds above Rs 9,050, the momentum is expected to sustain.Strategy: BuyTarget: Rs 9,340Stop-Loss: Rs 9,050Coromandel International | CMP: Rs 2,652.7On the daily chart, Coromandel International has moved above its previous swing highs, signalling renewed optimism. It is sustaining above the 50 EMA, indicating a positive trend. The RSI is in a bullish crossover, suggesting strong momentum.Strategy: BuyTarget: Rs 2,800Stop-Loss: Rs 2,500Sudeep Shah, Head - Technical and Derivatives Research at SBI SecuritiesPI Industries | CMP: Rs 4,324.7PI Industries witnessed a consolidation breakout on Tuesday, followed by a strong upward move accompanied by robust volumes. It is currently trading above both its short-term and long-term moving averages, which are trending higher and aligned in the ideal sequence—indicating a strong bullish trend.Additionally, the daily RSI is in bullish territory and continues to rise, further reinforcing the positive momentum. Hence, we recommend accumulating the stock in the Rs 4,330–4,310 zone.Strategy: BuyTarget: Rs 4,600Stop-Loss: Rs 4,180TD Power Systems | CMP: Rs 516.2TD Power Systems has recently demonstrated a strong technical setup by finding support in the Rs 460–450 zone—a region marked by the confluence of the 100-day EMA and the 61.8% Fibonacci retracement level, drawn from its pr...

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