Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, with a strong focus on the pharmaceutical, heavy electricals, and public sector banking spaces.
Top picks for the day include active pharmaceutical ingredient (API) maker Laurus Labs, heavy equipment manufacturer BHEL, and pharma player Granules India, followed by heavyweights State Bank of India (SBI) and Sun Pharma.
Here are the top five stock picks and trading ideas:
Laurus Labs
Chandan Taparia, Head of Technical & Derivatives Research at Motilal Oswal Financial Services (MOFSL), identified a strong technical setup in Laurus Labs.
He noted that the stock has bounced from its major support zones with higher-than-average traded volumes, backed by a bullish RSI crossover. Taparia recommended buying at the current market price of Rs 1,023 for a target of Rs 1,085, with a stop loss placed at Rs 990.
Bharat Heavy Electricals Ltd. (BHEL)
Taparia also sees significant upside in the heavy electricals sector, placing a buy call on BHEL. The stock is currently on the verge of a symmetrical triangle pattern breakout, having formed a solid base around its 200 DEMA support zone.
Accompanied by a rising MACD line confirming bullish momentum, he advised entering at Rs 262 for a target of Rs 280, protecting the position with a stop loss at Rs 252.
Granules India
Sachin Janardan Sarvade, AVP of Derivatives and Retail Research at IDBI Capital Markets, highlighted another buying opportunity in the pharmaceutical space with Granules India.
He recommended taking a long position in the Rs 623–629 range for a robust upside target of Rs 690, advising traders to maintain a strict stop loss at Rs 599.
State Bank of India (SBI)
Ajit Mishra, SVP of Research at Religare Broking, sees continued strength in the PSU banking space, placing a buy rating on the country’s largest lender, SBI. He recommended entering the stock at the current market price of Rs 1,060.60 for an upside target of Rs 1,140, placing a stop loss at Rs 1,020.
Sun Pharma
Sun Pharma emerged as a strong consensus top pick among leading analysts, closing out the list with dual buy recommendations:
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, advised buying at Rs 1,795 for a target of Rs 1,875, maintaining a stop loss at Rs 1,755.
Ajit Mishra of Religare Broking also recommended a long position at Rs 1,795.40 for an even higher target of Rs 1,895, with a stop loss placed at Rs 1,750.
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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