Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, HUL and SBI Card are the top stocks to buy today:
HUL – Buy in the range between Rs 2230 & Rs 2260; Stoploss: Rs 2189; Target: Rs 2420
HUL (Hindustan Unilever Limited) has started forming higher top higher bottom and is broken out of a small consolidation. The momentum indicator has also given a fresh positive crossover below the zero line. The stock has corrected from the peak of 2602 to the lows of 2136 in the last couple of months and the stock is expected to bounce for a 61% retracement i.e. 2420. Key support at 2218 & 2189 and resistance at 2366 and 2420.
SBI Card – Buy in the range between Rs 830 & Rs 850; Stoploss: Rs 814; Target: Rs 940
SBI Card has formed a triangle pattern and is expected to break out on the upside. Momentum indicator has already given a positive crossover trading above the zero line. The stock has been consolidating between 814 and 870 on the daily charts and the stock is expected to break out of the consolidation on the upside. Key support at 830 & 814 and resistance at 864 and 870.
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.
