Here are the top stock recommendations for today by NeoTrader’s Raja Venkatraman, Ankush Bajaj, and MarketSmith India.
NeoTrader co-founder Raja Venkatraman’s top stock picks for today
Yuken India Ltd
Buy above: ₹785 | Stop loss: ₹763 | Target: ₹885
The capital goods sector is going through a rough patch, but this counter has shown some resolve. The reaction from lower levels signals a resumption in bullishness as this stock shows signs of bottoming out with some steady buying at lower levels. Post a reaction from higher levels the stock is finding buyers.
Gulf Oil Lubricants India Ltd
Buy above: ₹1,190 | Stop loss: ₹1,165 | Target: ₹1,295-1,325
After forming a strong base at lower support levels, a strong push on Wednesday resulted in the breach of an important resistance of the MA Bands. A strong longbody green candle that is playing out is inviting more buying into the system. With the relative strength index, or RSI, heading higher, the bullishness could persist, indicating that investors should look at some potential ascent in coming sessions.
LT Foods Ltd
Buy above: ₹338 | Stop loss: ₹330 | Target: ₹355-368
LT Foods, an aggressive player in the rice exports segment, has been undergoing some volatility in recent days. But the positive move seen on Wednesday signals a shift in the counter, with trends hinting at some bullish bias. The momentum is slowly inching higher, indicating that the bullish bias can extend.
MarketSmith India’s top stock recommendations for 6 March
Sundaram Finance Ltd
Current market price: ₹4,689.70 | Buy range: ₹4,600-4,720 | Profit goal: ₹5,570 | Stop loss: ₹4,280 | Timeframe: 2-3 months
Narayana Hrudayalaya Ltd
Current market price: ₹1,367.80 | Buy range: ₹1,340-1,380 | Profit goal: ₹1,630 | Stop loss: ₹1,250 | Timeframe: 2-3 weeks
Ankush Bajaj’s list of top three stocks for 6 March
Tata Steel
Buy at: ₹146 | Target: ₹154-157 | Stop loss: ₹139
The Tata Steel stock is showing a bullish momentum and trading above multiple exponential moving averages, or EMAs, indicating a strong uptrend. The trend is expected to continue as long as the stock sustains above key moving averages.
Avanti Feed
Buy at: ₹786 | Target: ₹865-910 | Stop loss: ₹728
After a long consolidation, the stock has touched a lifetime high. Both RSI and average directional index (ADX) indicate the momentum is likely to continue. The stock has given a rectangle breakout from 720 levels, with a target of 865. Considering this breakout, 865 will be the first target for the ongoing bullish momentum.
Adani Enterprises
Buy at: ₹2,245 | Target: ₹2,505-2,540 | Stop loss: ₹2,145
The stock rallied 4.7% yesterday with strong volume, indicating bullish strength. Additionally, the stock has formed a double bottom and is breaking out of a triangle pattern, signalling a potential upward move. If this rally sustains, investors could see further bullishness in the coming days.
MarketSmith India is a stock research platform. Raja Venkatraman is co-founder, NeoTrader. Ankush Bajaj is a Sebi-registered research analyst.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.