Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on sectors such as power, pharmaceutical, automotive, tourism & hospitality, and rubber.
Top picks for Wednesday, June 24, include Adani Power, Sun Pharmaceutical Industries, Ola Electric, IRCTC, and GRP Limited.
Adani Power
Shrikant Chouhan, Executive VP & Head Equity Research at Kotak Securities, expects positive price action in the power sector. He recommended a buy on Adani Power for a target of Rs 242, advising traders to maintain a stop loss at Rs 224.
Sun Pharmaceutical Industries
Shrikant Chouhan of Kotak Securities also identified a buying opportunity in the pharmaceutical sector. He recommended entering Sun Pharmaceutical for an upside target of Rs 1,920, while protecting the position with a stop loss at Rs 1,830.
Ola Electric Mobility Limited
Deven Mehata, Manager – Technical & Derivatives Analyst at IDBI Capital Market and Securities Ltd, sees technical strength in the EV sector. He recommended a buy on Ola Electric for a target of Rs 48.55, suggesting a stop loss at Rs 41.85 to manage downside risk.
IRCTC
VLA Ambala, SEBI registered Research Analyst and Founder of SMT Stock Market highlighted momentum in the tourism and hospitality segment with a buy call on IRCTC. He recommended an entry for an upside target of Rs 550 and Rs 600, advising traders to keep a stop loss at Rs 485.
GRP Limited
VLA Ambala of SMT Stock Market also sees strong technical momentum in the rubber space. He recommended a buy on GRP Limited for an upside target of Rs 2,000 and Rs 2,300. Traders are advised to protect the position with a stop loss at Rs 1,740.
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