Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on defence, banking, and more.
Top picks include defence PSU Garden Reach Shipbuilders & Engineers Ltd., Federal Bank Ltd., and BEML Ltd.
The suggested trading strategies encompass entry levels, price targets for upside potential and stop-loss limits to manage downside risk.
Garden Reach Shipbuilders & Engineers (CMP: Rs 2,681)
SEBI-registered research analyst Vijay Laxmi Ambala (alias VLA Ambala) sees strong momentum in the defense shipbuilding sector.
She suggested entering GRSE between Rs 2680 and Rs 2685 levels, and has set targets of Rs 3,000, Rs 3,600 and Rs 4,000, implying upsides of 11.73%-11.94%, 34.08%-34.33% and 48.98%-49.25%, respectively. Ambala has advised investors to maintain a stop loss at Rs 2,300.
HFCL (CMP: Rs 230.47)
Sachin Janardan Sarvade, Market Expert sees strong upside in the teleco sector and has a 'buy' call on HFCL. He has recommended purchasing the stock between Rs 225 and Rs 230 and has set a target price of Rs 290, implying an upside of 26.09%-28.89%, depending on the entry price. Sarvade has advised investors to book their losses Rs 199.
BEML (CMP: Rs 1,961.10)
Deven Mehata, Manager – Technical & Derivatives Analyst at IDBI Capital Market and Securities Ltd, has a 'buy' call on BEML. He has recommended purchasing the stock at Rs 1,965.5 and has set a target price of Rs 2,125, implying an upside of 8.11%. Mehata has advised investors to maintain a stop loss at Rs 1,885.
Ardee Industries (CMP: Rs 63.97)
VLA Ambala is bullish on newly-listed Ardee Industries. She has recommended purchasing the stock between Rs 62 and Rs 63 and has set targets of Rs 68 and Rs 75, implying upsides of 7.94%-9.68% and 19.05%-20.97%, respectively. Ambala has advised investors to maintain a stop loss at Rs 55.
Federal Bank (CMP: Rs 357.8)
Mehata from IDBI Capital Market and Securities, suggested buying Federal Bank at the current market price of Rs 357.8 and has set a target price of Rs 380, implying an upside of 6.20%. Mehata has advised investors to book losses if the shares slip to Rs 347.
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