Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, with a strong consensus emerging in the defence sector.
Top picks include defence major Bharat Electronics Ltd. (BEL), state-run energy explorers ONGC and Oil India, and metal giant Hindalco, alongside a short-selling strategy for non-banking financial company Muthoot Finance.
Here are the top five stock picks and trading ideas.
Bharat Electronics (BEL)
BEL emerged as a strong consensus top pick, with three leading analysts recommending a buy on the defence stock.
Sachin Janardan Sarvade, AVP Derivatives and Retail Research at IDBI Capital Markets, advised buying in the Rs 450–454 range for a target of Rs 485, with a stop loss at Rs 439.
Osho Krishan, Chief Manager of Technical and Derivative Research at Angel One, recommended entering at Rs 452 for a target of Rs 468–470, maintaining a stop loss at Rs 438.
Gaurav Sharma, Associate VP & HOR at Globe Capital, suggested buying at the current market price of Rs 454 for a target of Rs 480, placing a stop loss at Rs 444.
ONGC
Sachin Janardan Sarvade of IDBI Capital Markets also sees upside in the upstream energy space, identifying a buying opportunity in ONGC. He recommended buying the stock between Rs 278 and Rs 283 for a target of Rs 310, protecting the position with a stop loss at Rs 269.
Oil India
Gaurav Sharma of Globe Capital placed a buy rating on another state-run explorer, Oil India. He recommended a long position at the current market price of Rs 488 for a target of Rs 520, advising traders to maintain a stop loss at Rs 472.
Hindalco Industries
Kunal Rambhia, Fund Manager & Trading Strategist at The Streets, identified value in the metals sector. He recommended buying Hindalco for a target of Rs 975, with a strict stop loss placed at Rs 925.
Muthoot Finance
Bucking the trend of buy calls, Rajesh Palviya, SVP of Technical and Derivatives Research at Axis Securities, has identified a selling opportunity in the financial sector. He recommended a short position on Muthoot Finance at Rs 3,471 for a target of Rs 3,350, placing a stop loss at Rs 3,520.
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