Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on oil marketing, public sector banking, power technology, heavy electrical equipment, and automobiles.
Top picks include oil marketing major Indian Oil Corporation (IOC), public sector lender Bank of India, power technology major Hitachi Energy India, heavy electrical equipment maker CG Power, and automotive giant Bajaj Auto.
Indian Oil Corporation (IOC)
Vinay Rajani, Senior Technical Research Analyst at HDFC Securities, sees positive price action in the oil marketing major. He recommended a buy on IOC at Rs 138.25 for a target of Rs 144, advising traders to maintain a stop loss at Rs 136.
Bank of India
Vinay Rajani of HDFC Securities also identified a buying opportunity in the public sector banking space. He recommended entering Bank of India at Rs 139.70 for an upside target of Rs 145, while protecting the position with a stop loss at Rs 137.
Hitachi Energy India
Amit Goel, CMT, SEBI RA, Partner & Co-Founder at BlueOak Wealth, sees technical strength in the power technology segment. He recommended a buy on Hitachi Energy India at Rs 35,790 for an upside target of Rs 41,700, suggesting a stop loss at Rs 32,700 to manage downside risk.
CG Power
Ajit Mishra, SVP of Research at Religare Broking, highlighted momentum in the heavy electricals sector with a buy call on CG Power. He recommended an entry at the current market price of Rs 854 for an upside target of Rs 920, advising traders to keep a strict stop loss at Rs 820.
Bajaj Auto
Ajit Mishra of Religare Broking also sees strong momentum in the automotive sector. He recommended a buy on Bajaj Auto at the current market price of Rs 10,460 for a target of Rs 11,500. Traders are advised to protect the position with a stop loss at Rs 10,100.
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