Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, NMDC, Aavas Financiers and Waaree Energies are the top stock picks for today:
NMDC: Buy above Rs 66.50; Stop Loss: Rs 63.50; Target: Rs 72
The stock seems to be oversold on the daily scale as it corrected from Rs 82 mark towards Rs 64. We are witnessing positive divergence on the daily RSI. Further, the stock is turning from the lower end of the falling channel and that indicates a bounce. Thus, traders are advised to go long in the stock above Rs 66.50 for an upside target of Rs 72.
AAVAS : Buy above Rs 1,710; Stop Loss: Rs 1,670; Target: Rs 1,800
AAVAS Financiers Ltd. is trading in the Rs 1,700-1,670 range and consolidating around the 200 DEMA. Despite recent market volatility, the stock has shown resilience, indicating strength. If the market improves slightly, a strong breakout is expected. A buy recommendation is suggested above 1,710 with a stop-loss at Rs 1,670 and a target of Rs 1,800.
Waaree Energies: Buy near Rs 2,750; Stop Loss: Rs 2,500; Target Rs 3,200
Waaree Energies Ltd., a newly listed stock, has retraced approximately 78.6% of its initial rally after touching levels above Rs 3,700. Currently trading in the Rs 2,770–Rs 2,700 range, the previous swing low around Rs 2,500 serves as a strong support and an ideal stop-loss point. Over a 6–12 month timeframe, the stock shows potential for a rebound, with a target of Rs 3,200. Investors can consider buying with Rs 2,500 as a strict stop-loss.
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.
