Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, Concor, ITC and Tata Steel are the highest stock picks for as we speak:
CONCOR: Buy between Rs 760 – Rs 740 | Stop Loss: Rs 699 | Target: Rs 850
The stock CONCOR has been correcting from its peak of Rs 1,172 and has practically examined the Rs 700 mark. It seems to be taking robust assist close to its 200-week EMA, which is a major assist stage. Additionally, we’re observing a reversal candlestick sample coupled with a trendline assist on this zone. Traders are suggested to provoke lengthy positions within the stock throughout the vary of Rs 760 – Rs 740, aiming for an upside goal of Rs 850, with a stop-loss positioned at Rs 699.
ITC: Buy close to Rs 435 | Stop Loss: Rs 425 | Target: Rs 455
Following the demerger of ITC Hotels, ITC Ltd. shares have entered a part of consolidation. The stock is presently buying and selling near its 200-day EMA, a vital assist stage. Furthermore, a double-bottom formation is seen close to Rs 425, which reinforces the assist zone. A purchase suggestion is recommended round Rs 435, with a stop-loss at Rs 425 and an upside goal of Rs 455.
Tata Steel: Buy close to Rs 125 | Stop Loss: Rs 119 | Target: Rs 135
TATA Steel has been correcting from its excessive of Rs 180 and is now buying and selling close to the Rs 120 mark. The stock is approaching its 200-week EMA, a sturdy assist stage that coincides with the extension line of a earlier breakout, marking this zone as a powerful demand space. Traders can contemplate shopping for the stock close to Rs 125, with a stop-loss set at Rs 119 and a goal of Rs 135.
Disclaimer: The opinions, analyses and recommendations expressed herein are these of brokerage and don’t replicate the views of The Times of India. Always seek the advice of with a certified funding advisor or monetary planner earlier than making any funding selections.
