Amid the ongoing volatility in the markets, domestic brokerage firm SMIFS has suggested select blue chip stocks to buy, which have turned attractive in terms of valuations and technical charts signal strength in them. The list includes names like ICICI Bank Ltd, State Bank of India (SBI) and Reliance Industries Ltd (RIL). Here's what the brokerage firm has to say on these stocks including targets and stop losses:
 

ICICI Bank | Buy | Target Price: Rs 1,455 | Stop Loss: Rs 1,248

ICICI Bank Ltd is quietly building a strong base near its key support zone, indicating steady accumulation by market participants. The price action continues to form higher lows, reflecting sustained buying interest on every dip and reinforcing the underlying strength of the trend. As momentum indicators stabilize, it suggests that the recent consolidation phase is likely a pause before the next leg of the up move. The setup remains constructive with upside potential towards Rs 1,445, while the bullish structure stays intact as long as the stock holds above Rs 1,248 on a closing basis.
 

Reliance Industries | Buy | Target Price: Rs 1,600 | Stop Loss: Rs 1,200

Reliance Industries is trading near a crucial long-term support zone, coinciding with its monthly 50-DMA. It has exhibited strong bullish reversals whenever prices approached this average. The price structure suggests consolidation rather than distribution, highlighting accumulation at lower levels. On multiple occasions in the past, Reliance has taken support near its monthly 50 DMA and subsequently delivered strong upward moves. Momentum indicators are stabilizing, with the monthly RSI hovering near the 45 level. Accumulate Reliance Industries in the Rs 1,300–1,250 zone for a medium-term upside target of Rs 1,600. The bullish structure remains intact as long as the stock sustains above Rs 1,200 on a closing basis.
 

State Bank of India | Buy | Target Price: Rs 1,220 | Stop Loss: Rs 1,050

SBI is forming an inverse head & shoulders pattern on daily charts, indicating a bullish reversal. The neckline is placed near Rs 1,100–1,110, and a sustained breakout above this zone can trigger upside momentum. Price structure shows higher lows, reflecting steady accumulation. MACD has given a bullish crossover, supporting trend strength. RSI is moving above 50, indicating improving momentum without overbought conditions. Above Rs 1,110, the stock can move towards Rs 1,220 as per pattern projection. Maintain stop loss at Rs 1,050, on a closing basis, to protect downside risk