Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on stocks like Meesho Ltd., Nippon Life India Asset Management, and more.
The suggested trading strategies for Thursday encompass entry levels, price targets for upside potential and stop-loss limits to manage downside risk.
Nippon Life India Asset Management (CMP: Rs 1,217)
Gaurav Sharma, Associate VP & HOR at Globe Capital, has a 'buy' call on Nippon Life India Asset Management. He has recommended purchasing the stock at the current market price of Rs 1,217 and has set a target price of Rs 1,300, implying an upside of 6.82%. Sharma has advised investors to maintain a stop loss at Rs 1,170.
RR Kabel (CMP: Rs 2,911.80)
Sachin Janardan Sarvade, Market Expert, has a 'buy' call on RR Kabel. He has recommended purchasing the stock between Rs 2,850 and Rs 2,898 and has set a target price of Rs 3,333, implying an upside of 15.01%-16.95%, depending on the entry price. Sarvade has advised investors to maintain a stop loss at Rs 2,679.
Chandan Taparia, Head-Technical & Derivatives Research, MOFSL also has a 'buy' call on RR Kabel. He has set a target price of Rs 3,030 and advised investors to maintain a stop loss at Rs 2,850.
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ELGI Equipments (CMP: Rs 637)
Sarvade has a 'buy' call on ELGI Equipments. He has recommended purchasing the stock between Rs 630 and Rs 638 and has set a target price of Rs 755, implying an upside of 18.50%-19.84%, depending on the entry price. Sarvade has advised investors to maintain a stop loss at Rs 579.
Meesho (CMP: Rs 196.78)
Sharma from Globe Capital, has a 'buy' call on Meesho. He has recommended purchasing the stock near the current market price of Rs 197 and has set targets of Rs 202 and Rs 210, implying upsides of 2.54% and 6.60%, respectively. Sharma has advised investors to maintain a stop loss at Rs 192.
Policybazaar (CMP: Rs 1,782.10)
Taparia from MOFSL, has a 'buy' call on PB Fintech Ltd. or Policybazaar. He has set a target price of Rs 1,860 and advised investors to maintain a stop loss at Rs 1,740.
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