Market analysts and brokerage firms have identified high-conviction trading ideas for the second session of September on Wednesday, spanning across diverse sectors.
Top picks include IT giants HCL Technologies Ltd., Oil & Natural Gas Corporation Ltd., and Stove Kraft Ltd. The suggested trading strategies encompass entry levels, price targets for upside potential and stop-loss limits to manage downside risk.
Stove Kraft (CMP: Rs 853)
Vinay Rajani, CMT, Senior Technical & Derivative Analyst at HDFC Securities, has a 'buy' call on Stove Kraft at Rs 853. He has set a target price of Rs 900, implying an upside of 6.25%. Rajani has advised investors to maintain a stop loss at Rs 798.
KSB (CMP: Rs 827)
Rajani recommends buying KSB, with a target price of Rs 890. The target implies an upside of 7.47% from the suggested entry level of Rs 828.20. The stop loss is set at Rs 790.
HCL Technologies (CMP: Rs 1,351.40)
Ruchit Jain, Vice President, Equity Technical Research, Wealth Management, Motilal Oswal Financial Services Ltd, has a 'buy' call on HCL Technologies at the current market price. He has set a target price of Rs 1,420, implying an upside of 5.08% and advised investors to maintain a stop loss at Rs 1,310.
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Caplin Point Laboratories (CMP: Rs 2,720)
Jain recommends buying Caplin Point Laboratories, with a target price of Rs 2,800 and a stop loss at Rs 2,640. The TP implies an upside of up to 3% from the current market price.
ONGC (CMP: Rs 234-238)
Jigar Shantilal Patel, Senior Manager – Equity Technical Research, Anand Rathi Share and Stock Brokers, has a 'buy' call on ONGC. He has recommended purchasing the stock between Rs 234 and Rs 238 and has set a target price of Rs 250, implying an upside of 5.04%-6.84%, depending on the entry price. Patel has advised investors to maintain a stop loss at Rs 228.
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