Market analysts and brokerage firms have identified high-conviction trading ideas for the first session of September on Tuesday, spanning across diverse sectors.
Top picks include IT giants Wipro Ltd., Jubilant Foodworks Ltd., and Life Insurance Corporation of India.
The suggested trading strategies encompass entry levels, price targets for upside potential and stop-loss limits to manage downside risk.
City Union Bank (CMP: Rs 229.50)
Pradeep Halder, Founder & CEO at PHD Capital, recommends buying shares of City Union Bank. He has set short-term target prices of Rs 238 and Rs 255, implying a potential upside of up to 11.11% from current levels. Halder advises traders to maintain a strict stop loss at Rs 207 per share.
Wipro (CMP: Rs 184.50)
VLA Ambala, SEBI Registered Analyst & Founder at SMT Stock Market has a 'buy' recommendation on IT major Wipro at Rs 180. Her targets of Rs 190 and Rs 205 suggest an upside of 5.56% and 13.89% respectively. She advises booking losses if the stock breaks below the Rs 170 stop-loss level.
Axis Bank (CMP: Rs 1,300)
Osho Krishan, Chief Manager – Technical and Derivative Research at Angel One, suggests buying Axis Bank around the Rs 1,270 level. Krishan's price target for the private sector lender stands at Rs 1,330, pointing to an upside of 4.72% from the recommended entry price (5.56% from CMP). He recommends maintaining a stop loss at Rs 1,230.
Jubilant FoodWorks (CMP: Rs 496.00)
Halder also has a 'buy' call on Jubilant FoodWorks. His price target of Rs 535 represents an upside potential of 7.86% from the current market price. On the flip side, he suggests setting a stop loss at Rs 471 to manage downside risk.
LIC (CMP: Rs 418)
Osho Krishan also carries a positive outlook on LICI, recommending a buy at Rs 410. His target price of Rs 428 indicates an upside of 4.39% from the entry level. Traders are advised to place their stop loss at Rs 402.
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