Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on the auto components, renewable energy, public sector banking, power utility, and commodity exchange sectors.
Top picks for the day include a consensus buy on auto ancillary major Sona BLW Precision Forgings (Sona Comstar), alongside renewable energy player Suzlon, state-run lender Indian Bank, utility giant Tata Power, and exchange platform MCX.
​Here are the top five stock picks and trading ideas:
​Sona Comstar
Sona Comstar emerged as a strong consensus pick, with two leading technical analysts recommending a buy on the auto components manufacturer.
Ajit Mishra, SVP of Research at Religare Broking, advised buying at the current market price of Rs 569.3 for a target of Rs 610, placing a strict stop loss at Rs 548.
​Ruchit Jain, Vice President of Equity Technical Research at Motilal Oswal Financial Services, also suggested a long position, targeting Rs 600 and protecting the trade with a stop loss at Rs 555.
Suzlon Energy
Rajesh Palviya, Head of Research at Axis Securities, sees momentum in the renewable energy space, placing a buy call on Suzlon. He recommended entering the stock at Rs 45.85 for an upside target of Rs 48.50, advising traders to maintain a stop loss at Rs 44.50.
Indian Bank
Gaurav Sharma, Associate VP & HOR at Globe Capital, identified value in the public sector banking segment. He recommended buying Indian Bank at the current market price of Rs 966 for an upside target of Rs 1,025, while keeping a stop loss maintained at Rs 930.
​Tata Power
Ajit Mishra of Religare Broking also highlighted strong momentum in the power and utility sector with a buy call on Tata Power. He recommended a long position at the current market price of Rs 409.6 for a target of Rs 438, advising traders to place a strict stop loss at Rs 395.
​Multi Commodity Exchange (MCX)
Ruchit Jain of Motilal Oswal Financial Services sees technical strength in the commodity exchange platform. He has recommended a buy on MCX for a robust target price of Rs 2,920, advising traders to protect the position with a stop loss at Rs 2,700.
​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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