Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, JSW Steel and Divi’s Laboratories are the top stock picks for today:
JSW Steel – Buy in the range between Rs 920 and Rs 930, Stop loss at Rs 880; Target: Rs 1,000
JSW Steel has taken support from the lower end of the channel and formed a positive weekly close which is a positive sign for the stock last week. The momentum indicator has also given a fresh positive crossover below the zero line. The stock has corrected from the peak of 1063 to the lows of 880, retesting the crucial support zone around 880 to 860 levels. On the upside the crucial resistance will be placed at 20 weekly moving average at 941.
Divislab – Buy in the range between Rs 5,990 and Rs 6,020, Stop loss at Rs 5,835; Target: Rs 6,400
Divislab has been consolidating since October 2024 and has now taken support from the lower end of the consolidation range and 20 Weekly moving average i.e. 5723. The stock has also started forming higher tops and higher bottoms on the weekly charts, which is a positive sign going forward. The momentum indicator has also given a positive crossover on the daily charts below the zero line. On the upside the crucial resistance will be placed at the previous swing high at 6068.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
