Indian equity benchmark indices settled sharply lower on Tuesday on the back of rising geopolitical concerns, record weakness in the Indian rupee and persistent FII outflows. The BSE Sensex crashed 1,456.04 points, or 1.92 per cent, to close at 74,559.24, while NSE's Nifty50 plunged 436.30 points, or 1.83 per cent, to end at 23,379.55 for the day.

Select buzzing stocks including V2 Retail, Biocon and Balrampur Chini Mills Ltd are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, Head of Research at Axis Direct has to say on them ahead of Wednesday's trading session:
 

Biocon | Buy | Target Price: Rs 425-440 | Stop Loss: Rs 385

Biocon Ltd broke out above the five-month downtrend line at the Rs 390 level on the daily and weekly charts, accompanied by huge volumes. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up with the price rise, which reconfirms bullish sentiment. The daily and weekly  'Bollinger Band' buy signals indicate increased momentum. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 425-440, and its downside support zone is the Rs 390-380 levels.

Balrampur Chini Mills | Buy | Target Price: Rs 560-580 | Stop Loss: Rs 515

Balrampur Chini is well above its 6-8 month multiple resistance zone of Rs 520 on a closing basis. The rising volumes over the past couple of months indicate increased participation near the breakout zone.  The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up with the price rise, which reconfirms bullish sentiment. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 560-580, and its downside support zone is the Rs 510–520 levels.
 

V2 Retail | Buy | Target Price: Rs 235-245 | Stop Loss: Rs 208

V2 Retail Ltd has regained the buying momentum around the 200-day SMA support zone of Rs 204 on the daily charts, which remains a crucial support level. The stock is trending higher, forming a series of higher tops and bottoms, which indicates a bullish trend. The stock is well placed above its 20, 50, 100 and 200-day SMAs. These averages are also inching up with the price rise, which reconfirms bullish sentiment. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 235-245, and its downside support zone is the Rs 210–203 levels.