Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing heavily on the energy, auto ancillary, and heavy electrical equipment sectors.
Top picks include state-run energy explorers Oil India and ONGC, alongside auto component maker Lumax Auto Tech and manufacturer TD Power Systems, as well as a short-selling strategy for mid-cap IT firm Coforge.
Here are the top five stock picks and trading ideas:
Oil India
Oil India emerged as a strong consensus top pick, with three leading analysts recommending a buy on the stock.
Ajit Mishra, SVP of Research at Religare Broking, advised buying at the current market price of Rs 483.9 for a target of Rs 508, with a stop loss at Rs 470.
Vinay Rajani, Senior Technical Research Analyst at HDFC Securities, recommended entering at Rs 484 for a target of Rs 515, also maintaining a stop loss at Rs 470.
Chandan Taparia, Head of Technical & Derivatives Research at Motilal Oswal Financial Services, placed a buy rating with a target of Rs 505 and a stop loss at Rs 470.
ONGC
Vinay Rajani of HDFC Securities also sees upside in the broader upstream energy space, identifying a buying opportunity in ONGC. He recommended buying the stock at Rs 280 for a target of Rs 290, protecting the position with a stop loss at Rs 275.
Coforge
Bucking the trend of buy calls, Chandan Taparia of Motilal Oswal identified a selling opportunity in the IT sector. He recommended a short position on Coforge for a target of Rs 1,130, advising traders to place a strict stop loss at Rs 1,220.
Lumax Auto Technologies
Kush Bohra, Founder of Kushbohra.com, placed a buy rating on auto ancillary player Lumax Auto Tech. He recommended a long position for targets of Rs 1,840 and Rs 1,925, with a stop loss maintained at Rs 1,675.
TD Power Systems
Bohra also identified value in the electrical equipment manufacturing space, recommending a buy on TD Power Systems. He set target prices of Rs 950 and Rs 995, advising traders to keep a stop loss at Rs 860.
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