- Market analysts recommend buying Adani Power with a target price of Rs 234 and stop loss at Rs 216
- Glenmark Pharma advised as a buy at Rs 2,250-2,260 with targets of Rs 2,350-2,370 and stop loss Rs 2,200
- SRF Ltd recommended as a buy at Rs 2,820 with targets of Rs 2,920-2,940 and stop loss at Rs 2,750
Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on power, pharmaceuticals, auto sector and chemicals.
Top picks include power generation company Adani Power, pharma player Glenmark, steel major Tata Steel, automobile manufacturer Bajaj Auto, and specialty chemicals company SRF.
Adani Power
Shrikant Chouhan, Executive VP & Head Equity Research at Kotak Securities, sees positive price action in the power generation space. He recommended a ‘Buy' on Adani Power for a target price of Rs 234 advising traders to maintain a stop loss at Rs 216.
Glenmark
Osho Krishan, Chief Manager- Technical and Derivative Research at Angel One, sees value in the pharma sector. He recommended a ‘Buy' on Glenmark Pharmaceuticals Ltd. at Rs 2,250 and Rs 2,260, for a target price of Rs 2,350 and Rs 2,370, while protecting the position with a stop loss at Rs 2,200.
SRF
Osho Krishan of Angel One, also identified a buying opportunity in the chemical industry. He recommended ‘Buy' on SRF Ltd. at Rs 2,820, for a target price of Rs 2,920 and Rs 2,940, advising traders to maintain a stop loss at Rs 2,750.
Tata Steel
Jigar Shantilal Patel, Senior Manager – Equity Technical Research at Anand Rathi share and stock broker highlighted momentum in the steel segment with a Buy call on Tata Steel Ltd. He recommended entering Tata Steel for a target of Rs 201, while protecting the position with a stop loss at Rs 185.
Bajaj Auto
Jigar Shantilal Patel at Anand Rathi also placed a Buy rating on automotive manufacturer Bajaj Auto. He recommended buying the stock for targets of Rs 10,700, with a stop loss maintained at Rs 9,600.
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