Top Stock Picks for Today: Arkade Developers, Aditya Birla Real Estate, and Ujjivan Small Finance Bank
Kunal Kamble of Bonanza Portfolio recommends buying Arkade Developers, Aditya Birla Real Estate, and Ujjivan Small Finance Bank based on strong technical setups and positive momentum.
Stock PicksTechnical AnalysisMarket TrendsReal EstateSmall Finance BankReal EstateJun 09, 2025
Arkade Developers
For Arkade Developers, the recommended buy price is ₹196.27, with a stop loss at ₹178 and a target price of ₹220. The stock has recently broken out from a rounding formation on the daily timeframe, a bullish signal that indicates sustained accumulation. This breakout is further supported by higher volume on buying days compared to selling days, which suggests strong demand.
Technically, the stock is trading comfortably above its 20 EMA, which acts as a dynamic support. Based on the current structure, the stock is poised to move toward the 220 mark, with immediate support at ₹178. Investors should keep an eye on this level to manage potential downside risk effectively.
Aditya Birla Real Estate (ABREL)
Aditya Birla Real Estate (ABREL) is another strong buy recommendation, with a buy price of ₹2,355.80, a stop loss at ₹2,285, and a target price of ₹2,457. The stock has formed a strong bullish candlestick on the daily chart, supported by the highest volume seen in the past six months. This high volume is a clear indicator of strong buying interest.
On the indicator front, the RSI is placed above 60, confirming positive momentum and aligning with the broader bullish trend in the real estate sector. Considering the price action and volume confirmation, the stock appears well-positioned for further upside toward ₹2,457 and ₹2,500, as long as it sustains above the support level of ₹2,285. This makes ABREL an attractive option for investors looking to capitalize on the real estate sector's growth.
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank is the third top pick, with a buy price of ₹47.83, a stop loss at ₹44, and a target price of ₹55. The stock surged nearly 7 percent on the daily timeframe, forming a strong bullish candlestick and breaking out from an ascending triangle pattern. This pattern is typically a bullish continuation setup, indicating renewed upward momentum.
On the indicator front, the Relative Strength Index (RSI) is heading north, reinforcing the strength of the current move and supporting the positive price action. Based on this technical setup, the stock is likely to move toward a target of ₹55, with a stop loss placed at ₹44 to manage downside risk effectively.
Conclusion
Investors looking to make informed decisions in today's market should consider these top picks from Kunal Kamble. Each stock has a strong technical setup and positive momentum, making them attractive buys. However, it's always important to manage risk by setting appropriate stop losses and monitoring market conditions closely.
Frequently Asked Questions
What is a rounding formation in technical analysis?
A rounding formation, also known as a saucer bottom, is a long-term reversal pattern that signals the end of a downtrend and the beginning of an uptrend. It is characterized by a gradual decline followed by a period of consolidation and then a gradual rise.
Why is the 20 EMA important in stock trading?
The 20 EMA (Exponential Moving Average) is a key technical indicator that smooths out price data to create a trend-following indicator. It is particularly useful for identifying dynamic support and resistance levels and confirming the direction of the trend.
What does a bullish candlestick indicate?
A bullish candlestick indicates that the closing price of a stock is higher than its opening price, suggesting buying pressure and a positive sentiment among investors. It often signals the potential for further price increases.
What is the significance of the Relative Strength Index (RSI) in technical analysis?
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is used to identify overbought or oversold conditions in a market. An RSI above 70 indicates overbought conditions, while below 30 indicates oversold conditions.
What is an ascending triangle pattern in technical analysis?
An ascending triangle pattern is a bullish continuation pattern that forms during an uptrend. It is characterized by a series of higher lows and a horizontal line connecting the highs. The pattern suggests that the bulls are in control and that the stock is likely to break out to the upside.
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