PL Capital has released its list of top investment picks for Samvat 2083, recommending 10 stocks across sectors such as energy, metals, healthcare, real estate and engineering.
The recommendations come ahead of the Diwali Muhurat trading session, scheduled for Sunday, November 8. The brokerage has identified stocks with favourable technical indicators and potential for further upside.
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Here are PL Capital's 10 Diwali stock picks, along with their target prices and stop-loss levels.
1. Apollo Hospitals Enterprise
Recommendation: Buy | Target Price: Rs 9,800–10,400 | Stop-Loss: Rs 7,000
Apollo Hospitals has corrected sharply from the Rs 9,050 level and is showing signs of bottoming out near Rs 7,500. The stock has witnessed a revival, improving its technical outlook.
According to PL Capital, the relative strength index (RSI) is approaching the oversold zone and indicating a potential trend reversal. The brokerage expects the stock to resume its upward move, with targets of Rs 9,800 and Rs 10,400.
2. DLF
Recommendation: Buy | Target Price: Rs 860–960 | Stop-Loss: Rs 570
DLF has been consolidating while holding above its key 200-day exponential moving average (EMA) of Rs 623 on the weekly chart. The stock has also formed a higher bottom and a volatility contraction pattern (VCP) on the daily chart.
Positive price action, supported by volume, and favourable RSI signals indicate the potential for further gains. PL Capital has set targets of Rs 860 and Rs 960, with a stop-loss of Rs 570.
3. GE Vernova T&D India
Recommendation: Buy | Target Price: Rs 5,100–5,450 | Stop-Loss: Rs 3,400
After consolidating near Rs 4,200, GE Vernova T&D India corrected to around Rs 3,550 before staging a recovery supported by higher trading volumes.
PL Capital believes the revival has improved the stock's technical outlook. The RSI is showing signs of a potential positive reversal, indicating scope for further upside. The brokerage has set targets of Rs 5,100 and Rs 5,450.
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4. HBL Engineering
Recommendation: Buy | Target Price: Rs 1,000–1,080 | Stop-Loss: Rs 670
HBL Engineering has rebounded from around Rs 650 and formed a higher low on the daily chart, indicating improving momentum.
The stock is trading above the confluence of its 50-day EMA and 200-period moving average near Rs 750. Its recent bullish price formation supports the possibility of further gains, according to PL Capital. The brokerage has set targets of Rs 1,000 and Rs 1,080.
5. Jindal Steel
Recommendation: Buy | Target Price: Rs 1,290–1,360 | Stop-Loss: Rs 900
Jindal Steel has corrected sharply but found support near Rs 1,000, forming a potential triple-bottom pattern on the daily chart.
The stock is currently consolidating, while the RSI indicates a possible positive reversal from oversold territory. PL Capital expects the stock to regain upward momentum, with targets of Rs 1,290 and Rs 1,360.
6. Marine Electricals
Recommendation: Buy | Target Price: Rs 520–560 | Stop-Loss: Rs 355
Marine Electricals has maintained its uptrend following a breakout above Rs 300. The stock has formed a higher low on the daily chart and moved above its 50-day EMA near Rs 405, signalling improving momentum.
The RSI has cooled from overbought levels and is indicating a potential positive reversal. PL Capital recommends buying and accumulating the stock, with targets of Rs 520 and Rs 560.
7. Shilpa Medicare
Recommendation: Buy | Target Price: Rs 1,230–1,335 | Stop-Loss: Rs 765
Shilpa Medicare has maintained a strong uptrend over the past seven to eight months, despite a recent correction. The stock found support near Rs 820 and has since staged a recovery.
PL Capital believes the rebound could trigger another upward move. The RSI has corrected from overbought levels and is indicating a potential positive reversal. The brokerage has set targets of Rs 1,230 and Rs 1,335.
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8. Syrma SGS Technology
Recommendation: Buy | Target Price: Rs 1,970–2,120 | Stop-Loss: Rs 1,290
Syrma SGS Technology continues to trade in an overall uptrend, supported by a series of higher lows on the daily chart. Following a recent correction, the stock found support near Rs 1,390 and staged a recovery.
PL Capital expects the positive momentum to continue, citing favourable RSI signals and an improving technical setup. The brokerage recommends buying and accumulating the stock, with targets of Rs 1,970 and Rs 2,120.
9. Transformers and Rectifiers (India)
Recommendation: Buy | Target Price: Rs 385–440 | Stop-Loss: Rs 260
TARIL has rebounded from support near Rs 265 but faced resistance around Rs 360, triggering a correction. The stock has since found support near Rs 300, where its 50-day EMA and 200-period moving average converge.
A bullish candle formation and improving RSI signals suggest a potential resumption of the uptrend. PL Capital recommends buying and accumulating the stock, with targets of Rs 385 and Rs 440.
10. TD Power Systems
Recommendation: Buy | Target Price: Rs 870–940 | Stop-Loss: Rs 580
TD Power Systems has maintained a strong uptrend over the past year, forming a series of higher lows on the daily chart. After a recent correction, the stock found support near Rs 620 and recovered above the resistance level of Rs 680.
PL Capital believes the recovery has strengthened the technical outlook. The RSI is also indicating a potential positive reversal, supporting the possibility of further gains. The brokerage has set targets of Rs 870 and Rs 940.
Editorial note: Before publication, verify the Muhurat trading date and all CMPs against the latest available market data. Also confirm whether the brokerage's quoted moving averages refer to the 200-day EMA or the 200-period moving average, as these are not necessarily the same.
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Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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