Four stocks are on market analysts' buy lists for today, October 22, with technical experts seeing upside in Indian Hotels, Dr Reddy's Laboratories, Mphasis Futures and Bharat Dynamics. Traders should track the recommended entry prices, targets and stop-loss levels before taking positions.
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Indian Hotels Company Ltd. (CMP: Rs 753.00)
Osho Krishan, Chief Manager, Technical and Derivative Research at Angel One, recommends buying Indian Hotels at Rs 750. The target of Rs 785 indicates a potential upside of 4.7% from the suggested entry price. A stop loss should be maintained at Rs 730.
Dr Reddy's Laboratories Ltd. (CMP: Rs 1,244.50)
Krishan also recommends buying Dr Reddy's Laboratories at Rs 1,240. The target of Rs 1,290 suggests a potential upside of 4%, while the stop loss is placed at Rs 1,212.
Mphasis Futures (CMP: Rs 2,573.40)
Gaurav Sharma, Associate Vice-President and Head of Research at Globe Capital, recommends buying Mphasis Futures at Rs 2,575. The target of Rs 2,700 implies a potential upside of 4.9%. The stop loss is set at Rs 2,525.
Bharat Dynamics Ltd. (CMP: Rs 1,070.00)
Jigar Shantilal Patel Senior Manager – Equity Technical Research Anand Rathi said Bharat Dynamics Limited (BDL) is trading near a major trendline support, making the current zone technically important for a potential recovery. The daily chart is displaying a three-point bullish divergence on the Relative Strength Index (RSI), indicating that selling pressure may be gradually weakening despite the recent price movement. This setup raises the possibility of a short-term rebound, provided the stock sustains its trendline support and buying interest improves. Traders may consider buying BDL at current levels, with a strict stop loss at Rs 1,020 and an upside target of Rs 1,180. The stock's price action near the trendline will be crucial for confirming the bullish setup. A sustained breakdown below the stop-loss level could invalidate the recovery outlook and warrant exiting the position.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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