Top stocks to buy today: Acutaas, Prudent, Steelcast signal upside, says analyst

Stocks to buy today, April 20: Aakash Shah Recommendations

ACUTAAS

Buy ACUTAAS in Cash at ₹2,360 | Stop loss: ₹2,222 | Share price target: ₹2,600

Acutaas Chemicals share price is currently trading near ₹2,360 and continues to exhibit a strong bullish structure after a steady upward move over the past few months. The stock, recently, witnessed a sharp rally followed by a brief pullback, and is now attempting to stabilise above its short-term moving averages. This price behaviour suggests that buyers are still active on dips, keeping the overall trend intact.

On the technical front, Acutaas stock is comfortably trading above its key EMA levels, indicating alignment across multiple timeframes. The recent retracement towards the 50 EMA and subsequent bounce highlights this zone as immediate dynamic support. On the downside, ₹2,222 remains a support level, below which weakness may emerge. On the upside, a decisive move above ₹2,400 could open the path for a fresh leg towards ₹2,600, provided volumes support the move.

PRUDENT

Buy PRUDENT in Cash at ₹2,752 | Stop loss: ₹2,610 | Share price target: ₹,3000

Prudent Corporate Advisory Services share price is currently trading around ₹2,750 and is showing early signs of a potential trend shift after a prolonged sideways-to-down phase. The stock has, recently, bounced from lower levels and is now gradually moving higher, indicating accumulation at lower zones. Price action is approaching a key supply area marked by a falling trendline, making the current zone technically important.

From a moving average perspective, Prudent Corporate Advisory stock is trading above all its key EMAs, indicating an overall positive trend structure. The 20-day EMA crossing above the 50-day EMA signals improving short-term momentum, while the price sustaining above the broader EMA cluster reflects underlying strength. On the downside, ₹2,610 acts as an immediate support zone, which aligns with the retest of the upper trendline breakout. This zone is crucial in maintaining the breakout structure, and as long as the stock holds above it, upside target towards ₹3,000 levels, supported by volume expansion.

STEELCAS

Buy STEELCAS in at ₹295 | Stop loss: ₹280 | Share price target: ₹335

Steelcast share price is currently trading near ₹295 and has recently transitioned from a prolonged consolidation phase into a momentum-driven up move. The stock had spent considerable time building a base, and the breakout above this range signals a shift in market participation from sideways to directional strength.

Price action now reflects continuation rather than just breakout, with Steelcast stock sustaining above previous resistance zones, indicating acceptance at higher levels. The structure suggests that dips are being bought into, rather than sold.

Technically, Steelcast stock is holding firmly above its key moving averages, all of which are trending upward, reinforcing the bullish setup. On the downside, the ₹280 zone acts as a strong support area, which is likely to provide a cushion on dips and help sustain the ongoing bullish structure. If the ₹280 support zone holds, the stock could extend its rally towards 335, provided momentum remains intact.

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Disclaimer: This article is by Aakash Shah, technical research analyst, Choice Equity Broking. Views expressed are his own.

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