Indian equity traders received fresh technical buy calls for the August 12, 2026 session as Mehul Kothari, DVP - Technical Research at Anand Rathi Shares, recommended JSW Energy, Gujarat Mineral Development Corporation (GMDC) and IRCTC as the top stocks to buy, according to Business-Today. Each pick comes with a defined buy zone, stop-loss level and price target based on daily and weekly chart patterns.
JSW Energy: momentum above key moving averages
JSW Energy is recommended for long positions in the Rs 570–560 zone, with a stop loss at Rs 550 and a target of Rs 600, Kothari said, as reported by Business-Today. The stock continues to maintain a strong technical structure, trading above both its 21-day EMA at Rs 559.86 and 200-day EMA at Rs 534.73. The directional movement index (DMI) setup is favourable, with +DI at 27.05 against -DI at 17.19, while the relative strength index (RSI) at 61.10 reflects healthy momentum. After spending time in consolidation, the stock regained momentum and moved above its earlier swing highs; the price structure points to a continuation of the ongoing uptrend as long as it sustains above the recent breakout zone.
GMDC: reversal setup after consolidation
Gujarat Mineral Development Corporation is showing signs of a reversal after consolidating around its key support area, according to Business-Today. Kothari's buy zone is Rs 605–595, with a stop loss at Rs 575 and a target of Rs 655. The stock has moved back above both the 21-day EMA (Rs 579.65) and 200-day EMA (Rs 576.07), improving the overall price structure. The DMI has turned bullish, with +DI at 24.62 well above -DI at 14.69, while ADX at 20.72 indicates the directional trend is gradually picking up. RSI at 57.59 leaves room for further momentum. Holding above Rs 580 would keep the setup favourable and could take the stock towards its recent swing highs.
IRCTC: weekly bullish divergence
For IRCTC, the recommendation is to enter long positions in the Rs 525–515 zone, with a stop loss at Rs 492 and a target of Rs 565, Business-Today reported. The weekly chart shows an interesting price pattern: the earlier major decline was around 42%, while the more recent decline stands at nearly 41%, creating an almost equal-length correction. This symmetry makes the current price zone technically important and raises the possibility that the decline is nearing exhaustion. While the stock has made a lower low, the RSI has formed a higher low, resulting in a bullish divergence; the RSI has also moved up from oversold territory, pointing towards a loss of downside momentum. The combination of the near equal-length decline and bullish RSI divergence makes the current zone an interesting reversal setup.
Recommendations at a glance
The table below summarises the trading parameters for all three recommendations:
| Stock | Buy zone (Rs) | Stop loss (Rs) | Target (Rs) | Key technical signal |
|---|---|---|---|---|
| JSW Energy | 570–560 | 550 | 600 | Above 21-day EMA (559.86) and 200-day EMA (534.73); +DI 27.05 vs -DI 17.19; RSI 61.10 |
| GMDC | 605–595 | 575 | 655 | Above 21-day EMA (579.65) and 200-day EMA (576.07); ADX 20.72; RSI 57.59 |
| IRCTC | 525–515 | 492 | 565 | Equal-length corrections of ~42% and ~41%; weekly bullish RSI divergence |
The three calls define a clear risk-reward structure for the August 12, 2026 session: JSW Energy offers a target of Rs 600 against a Rs 550 stop loss from the Rs 570 entry point, GMDC offers Rs 655 against Rs 575 from the Rs 605 level, and IRCTC offers Rs 565 against Rs 492 from the Rs 525 zone.
Analyst attribution and disclaimer
The recommendations were published on August 12, 2026 and are based on technical analysis of moving averages, DMI, ADX and RSI across daily and weekly timeframes. According to the report's disclaimer, recommendations and views on the stock market or any other asset classes given by experts and analysts are their own, and these opinions do not represent the views of The Times of India.
Sources:
