Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, with a heavy emphasis on the commodities, energy, and public sector undertaking (PSU) sectors.
Top picks for the day include a strong consensus on National Aluminium Company (Nalco), followed by energy giants ONGC, Coal India, MRPL, and GAIL India.
Here are the top five stock picks and trading ideas:
National Aluminium Co. (Nalco)
National Aluminium emerged as the standout consensus pick, with four leading analysts issuing buy recommendations.
Chandan Taparia, Head of Technical & Derivatives Research at Motilal Oswal Financial Services (MOFSL), noted the stock has bounced from its 50 DEMA support zones with high traded volumes. With a rising MACD line confirming positive momentum, he recommended a buy at Rs 386 for a target of Rs 410 (Stop Loss: Rs 375).
Sachin Janardan Sarvade of IDBI Capital Markets suggested a buy in the Rs 383–386 range for an aggressive target of Rs 440 (Stop Loss: Rs 359).
Gaurav Sharma of Globe Capital and Rajesh Bhosale of Angel One both recommended targets of Rs 415 and Rs 410, respectively.
ONGC
Chandan Taparia of MOFSL identified a strong technical setup in ONGC. He observed the stock bouncing from support zones accompanied by a surge in buying volumes. Backed by a bullish RSI crossover, he recommended entering at Rs 285 for a target of Rs 302, protecting the position with a stop loss at Rs 275.
Coal India
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, sees upside in the mining major. He recommended a buy on Coal India at the current market price of Rs 450. He set a target of Rs 475 and advised traders to maintain a stop loss at Rs 437.
MRPL (Mangalore Refinery and Petrochemicals Ltd.)
Sachin Janardan Sarvade of IDBI Capital Markets identified a buying opportunity in the refining space. He recommended entering MRPL in the Rs 178–180 range for a target of Rs 202, setting a strict stop loss at Rs 169.
GAIL India
Gaurav Sharma, Associate VP & HOR at Globe Capital, highlighted momentum in the natural gas sector with a buy on GAIL. He recommended entering at the current market price of Rs 137 for an upside target of Rs 146, while maintaining a stop loss at Rs 134.
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