Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on the mining and energy, financial services sectors.
Several frontline and sectoral stocks are in focus as technical indicators point to positive momentum across counters such as Bajaj Finance, Coal India, Bharat Electronics, MCX and Bharat Forge.
Here are the top five stock picks and trading ideas:
Bajaj Finance Ltd. (CMP: 873.80)
Vinay Rajani, CMT, Senior Technical & Derivative Analyst at HDFC Securities, suggests buying Bajaj Finance at Rs 878, with a stop loss of Rs 860 and a target price of Rs 905. The stock has also been recommended by Chandan Taparia, Head – Technical & Derivatives Research, MOFSL, at Rs 878, with a stop loss of Rs 845 and a target price of Rs 925. He notes that the stock has formed a strong bullish candle near major support zones, supported by higher-than-average volumes, while the stochastic indicator has moved out of the oversold territory, confirming positive price action.
Nilesh Jain, Head AVP – Technical & Derivatives Research (Equity Research), Centrum Broking Ltd. has also recommended buying Bajaj Finance, keeping a stop loss at Rs 860 and a target price of Rs 915.
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Coal India Ltd. (CMP: Rs 459.00)
Ajit Mishra, SVP–Research, Religare Broking, has recommended buying Coal India at the current market price of Rs 460.3, with a stop loss at Rs 445 and an upside target of Rs 478.
Bharat Electronics Ltd. (CMP: Rs 428.50)
Raja Venkatraman, Co-Founder, NeoTrader, recommends buying Bharat Electronics Limited (BEL) at Rs 430, with a stop loss at Rs 425 and a target of Rs 438.
Multi Commodity Exchange Of India Ltd. (CMP: Rs 2,557.90)
Venkatraman, also (MCX) at Rs 2,555, with a stop loss of Rs 2,520 and a target price of Rs 2,595. Chandan Taparia recommends buying MCX at the current market price of Rs 2,555, with a stop loss at Rs 2,460 and a target price of Rs 2,750. He notes that the stock is in a strong uptrend, respecting its 20 and 50 DEMA support levels, with the RSI indicating bullish momentum.
Bharat Forge Ltd. (CMP: Rs 1,690.40)
Rajani recommends buying Bharat Forge at Rs 1,697, setting a stop loss at Rs 1,665 and a target price of Rs 1,755.
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