Bhosale picks HDFC Bank, Hindalco for bounce
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- Rajesh Bhosale of Angel One pegged 23,000 as the immediate index support with 22,700 as the next downside level, while flagging 23,300–23,400 as immediate resistance amid flat but choppy trading.
- HDFC Bank is Bhosale's top bounce pick, with the stock trading around its weekly 89 EMA and indicators deep in the oversold zone — he recommends buying with a stop loss of 814 and a target near 860.
- Hindalco is Bhosale's second pick, having held its support through Friday's selloff and showing strong traction on the day — he suggests buying with a stop loss of 900 and targeting 1,040.
- Bhosale's playbook is to focus on counters placed at long-term supports with deeply oversold indicators, explicitly avoiding broad market bets given weak overall sentiment.
- Analysts broadly urge investors to monitor key support and resistance levels, framing stock-specific strategies as the safer play in the current range-bound market.
Why it matters: Bhosale's HDFC Bank trade offers roughly a 46-point upside (to 860) against a 814 stop, and his Hindalco trade targets 1,040 against a 900 stop — both hinge on the broader Nifty holding the 23,000 floor he flagged, making index direction the gating factor for these setups.
