Top Stock Picks for Wednesday: Rallis India, Lumax Industries, and More for Up to 9% Gains

India’s benchmark index Nifty ended lower on Tuesday, recording its third straight loss amid selling pressure in IT, auto, and consumer stocks. The November series expiry remained subdued. Commenting on the day's action, Nilesh Jain, Head – Technical and Derivatives Equity Research Analyst at Centrum Broking, said that the index struggled to cross the psychological barrier at 26,000 and ultimately closed below 25,900. A clear move above 26,000 is now essential to spark short covering and pave the way toward 26,200, he said.

At present, the index is precariously positioned near its 21-DMA at 25,850, slipping below this support could accelerate the downside toward 25,700. The broader trend remains bullish, and a buy-on-dip strategy is likely to work as long as the Nifty holds above its 50-DMA, currently positioned near the 25,490 level, Jain added. Here are six stock recommendations for Wednesday:

1. Buy Rallis India at Rs 261.30 | Upside: 8.3% - Stop Loss: Rs 250 - Target: Rs 283 - Buy with a timeframe of 2-3 weeks. The downtrend of the last 2-3 months seems to have reversed up on Tuesday. We observe a formation of a crucial bottom reversal pattern at Rs 245. The stock price has broken decisively above the short-term sideways range of Rs 253 levels. Volume has started to expand during the upside breakout in the stock price, and the daily RSI shows positive indications.

2. Buy AB Capital at Rs 345.90 | Upside: 8% - Stop Loss: Rs 331 - Target: Rs 372 - Buy with a timeframe of 2-3 weeks. The stock price is in a strong upside momentum over the last 6-7 months. We observe a bullish pattern like higher tops and bottoms over the period of time. Currently, it is in an attempt of an upside breakout of a few weeks range at Rs 345 levels. Volume and RSI patterns are indicating positive bias for the stock price ahead.

3. Buy Lumax Industries at Rs 5,542.10 | Upside: 4% - Stop Loss: Rs 5,360 - Target: Rs 5,775 - Lumax Industries posted a strong resistance breakout, closing significantly higher at 5,542.10 with a 10.68% surge, supported by large volumes, indicating strong bullish participation. Price action is firmly positioned above major EMAs, maintaining a solid uptrend structure, while the RSI at 67.36 signals healthy positive momentum without being overheated. The bullish breakout candle strengthens the continuation bias as long as the stock holds above the breakout zone.

4. Buy Maharashtra Seamless at Rs 585 | Upside: 9.4% - Stop Loss: Rs 555 - Target: Rs 640 - Maharashtra Seamless is showing strong bullish momentum after a solid closing candle that engulfed the previous six-day range, indicating renewed buying interest. The stock has taken strong support near the 200-week EMA on the weekly chart, reinforcing its long-term bullish structure and signaling stability at lower levels. Price has now closed near the key resistance zone of 585–590, and a decisive breakout and sustained move above this range may open the door for further upside towards 640. On the downside, immediate support lies around 555, where visible accumulation suggests buyers are active and protecting the level. The RSI is at 69.92, reflecting strong momentum and supporting the continuation of the uptrend.

5. Buy Century Plyboards at Rs 789.95 | Upside: 9% - Stop Loss: Rs 750 - Target: Rs 860 - Century Plyboards is currently positioned near a critical point as it approaches the upper boundary of a well-formed symmetric triangle pattern. This structure reflects an extended phase of consolidation, with price action narrowing progressively toward the apex. The recent strong upward movement indicates renewed buying interest and places the stock close to a potential breakout zone. Immediate support is aligned with the lower trend line near the recent swing area, while resistance remains at the upper converging line. A decisive move beyond this level will determine the next directional phase. Momentum is gradually strengthening, with the RSI turning upward from neutral territory, suggesting improving sentiment. The price is also attempting to regain footing above key moving averages, indicating early signs of structural recovery.

6. Buy AB Capital at Rs 345.45 | Upside: 5% - Stop Loss: Rs 328 - Target: Rs 362 - Buy with a timeframe of 2-3 weeks. The stock price is in a strong upside momentum over the last 6-7 months. We observe a bullish pattern like higher tops and bottoms over the period of time. Currently, it is in an attempt of an upside breakout of a few weeks range at Rs 345 levels. Volume and RSI patterns are indicating positive bias for the stock price ahead.

These stock recommendations are based on technical analysis and market trends. Always consult with a financial advisor before making any investment decisions.