Leading market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, with a distinct focus on the defence, public sector banking, and commodity sectors.
Top picks include steel major Tata Steel, mining giant Coal India, and defence players Mazagon Dock and Paras Defence, alongside state-owned lender Union Bank of India.
Union Bank of India
Union Bank of India emerged as a consensus top pick with two analysts recommending a buy.
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, advised buying at Rs 182 for a target of Rs 195, with a stop loss at Rs 175.
Ruchit Jain, Vice President of Equity Technical Research at Motilal Oswal Financial Services, also placed a buy rating, setting a target of Rs 190 with a stop loss at Rs 178.
Tata Steel
Aamar Deo Singh, Senior Vice President of Research at Angel One, sees significant upside in the metal sector. He recommended buying Tata Steel at Rs 190 for a target of Rs 213, placing a stop loss at Rs 177.
Coal India
Singh also identified value in the energy space, placing a buy call on Coal India. He advised entering the stock at Rs 440 for a target of Rs 473, maintaining a stop loss at Rs 423.
Mazagon Dock Shipbuilders
Ruchit Jain of Motilal Oswal highlighted the defence sector, recommending a long position on Mazagon Dock. He set a target price of Rs 2,620, advising traders to keep a stop loss at Rs 2,430.
Paras Defence
Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities, also focused on defence. He recommended buying Paras Defence at Rs 685.6 for a target of Rs 728, with a stop loss placed at Rs 670.
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