
Stocks to buy: GRSE, KEI Industries and IndiGo on investors’ radar
global equities
Stocks that were in focus include names like GRSE, which rose 4.5% and KEI Industries, which declined 12% and IndiGo, whose shares gained 2.2% on Thursday.
Here's what Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
GRSE
Garden Reach Shipbuilders and Engineers Ltd (GRSE) surged 4.73% to Rs 1,724, delivering a decisive breakout above a long-term downtrend line, backed by heavy volumes. The stock has reclaimed key moving averages, signaling bullish momentum. The RSI at 72 suggests strong buying interest, while MACD is trending positively.
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With increasing government focus on defense modernization and recent contract wins in the shipbuilding sector, GRSE is poised for further upside. Traders can eye Rs 2,000 as the next target, with support placed below Rs 1,550. The breakout aligns with renewed strength in the defense sector, where recent policy initiatives and order inflows are driving optimism.
Given its strong breakout above the downtrend line and a move past crucial EMAs (50, 100, and 200), GRSE is exhibiting a robust bullish structure. The rising RSI and bullish MACD crossover further support the momentum. A sustained close above this level could trigger further upside toward Rs 2,000, with Rs 1,550 acting as key support. Traders should watch for continued volume expansion to validate the breakout and confirm strength in the ongoing trend.