Best Stocks to Buy Today in India – Paresh Gordhandas Power Calls

Honasa Consumer- CMP Rs.306.15

Technical Structure
The stock is witnessing a strong momentum-driven upmove with short-term and long-term trends turning bullish, while the medium-term structure remains in a corrective phase. Price action has strengthened significantly, supported by consistent higher highs and higher lows over the past few weeks. The stock is trading comfortably above all key moving averages including the 20DMA, 34DMA, 50DMA and 89DMA, while also holding above the 200DMA — signalling improving positional strength and sustained buying interest. The recent close near the upper Bollinger Band suggests strong bullish participation after a steady breakout from consolidation levels around the 280–285 zone.

Momentum & Indicator Analysis
Momentum indicators indicate strong bullish strength but also hint at near-term overheating. RSI at 70.02 has entered the overbought territory, reflecting aggressive upside momentum; however, strong trends often sustain elevated RSI readings. StochRSI near 100 and high stochastic readings confirm strong buying pressure, though minor consolidation cannot be ruled out.

MACD remains firmly positive with a widening histogram, signalling continued bullish momentum. ADX at 28.14 with strong +DMI dominance indicates a developing trend environment where buyers maintain control. CCI at 123.04 reinforces the bullish bias, while Williams %R at -22.08 suggests the stock is nearing the upper end of its recent trading range but still supported by momentum.

Volatility & Price Behaviour
The stock is trading near the upper Bollinger Band at 305.08, indicating a momentum expansion phase. Such positioning typically leads to either continuation rallies or brief sideways consolidation before the next leg higher. Parabolic SAR at 283.15 continues to trail well below the price, confirming the prevailing upward trend. ATR at 11.30 indicates moderate volatility, suggesting manageable trading ranges despite the sharp rise.

Key Levels
Immediate Resistance: 312 – 318 zone (R1–R2 cluster)
Major Resistance: 330 – 343 zone (R3–R4 levels)

Immediate Support: 305 – 299 band (Pivot to S1 zone)
Strong Positional Support: 292 – 284 region (S2 + SAR cluster)

Trend Expectation
The overall structure remains bullish with price trading above key averages and momentum indicators supporting continuation. However, due to overbought readings and proximity to resistance levels, short-term consolidation or minor pullbacks toward the 299–305 zone may occur before the next directional move. Sustaining above the pivot level of 305.03 will be crucial to maintain the upward trajectory.

4–6 Week Positional Target (Power Calls View)
Primary Target Zone: 318 – 330
Extended Target (Momentum Continuation): 343+

View invalidation may occur only if price sustains below 284, which could weaken the bullish structure and reintroduce medium-term consolidation risk.

Paresh Gordhandas Technical View
The stock is showing strong momentum continuation with price holding firmly above moving averages and momentum oscillators signalling sustained buying interest. While indicators suggest near-term overbought conditions, the positive MACD structure and rising trend strength indicate that dips toward support zones may attract fresh accumulation, keeping the broader outlook constructive over the coming weeks.