Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on the energy, telecommunications, consumer electricals, and aviation sectors.
Top picks include a consensus buy on state-run Coal India, alongside Bharti Airtel, Crompton Greaves, Oil India, and a tactical short position on IndiGo.
Coal India
Coal India emerged as a high-conviction consensus pick, with dual buy ratings following a significant technical breakout.Chandan Taparia, Head of Technical & Derivatives Research at MOFSL, noted that the stock has given a range breakout at its 52-week high zones accompanied by a surge in volumes.
He recommended a buy at Rs 480 for a target of Rs 510, with a stop loss at Rs 465. He highlighted that the MACD indicator has given a bullish crossover to support the price action.
Nilesh Jain, Head AVP at Centrum Broking, also recommended a buy for a target of Rs 502, maintaining a stop loss at Rs 466.
Bharti Airtel
Nilesh Jain of Centrum Broking sees continued strength in the telecom major Bharti Airtel. He recommended a buy position for an upside target of Rs 1,940, advising traders to protect the trade with a stop loss at Rs 1,855.
Crompton
Chandan Taparia of MOFSL identified a bullish setup in Crompton, noting a breakout from a consolidation zone with a strong-bodied bullish candle and high volumes. He recommended a buy at Rs 276 for a target of Rs 300, with a stop loss at Rs 265. He added that a rising RSI confirms the positive momentum.
Oil India
Vinay Rajani, Senior Technical Research Analyst at HDFC Securities, identified a buying opportunity in the energy space with Oil India. He suggested an entry at Rs 494 for an upside target of Rs 510, while maintaining a stop loss at Rs 480.
IndiGo (InterGlobe Aviation)
Bucking the trend of buy calls, Vinay Rajani has identified a selling opportunity in IndiGo May Futures. He recommended a short position below Rs 4,360 for a downward target of Rs 4,200, advising a stop loss at Rs 4,450.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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