Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, RBL Bank and ACC are the top stocks to buy today:
RBL Bank – Buy in the range between Rs 173 & Rs 178; Stoploss: Rs 164; Target: Rs 205
RBL Bank has formed a small consolidation and has also broken out on the upside today. The momentum indicator has also given a fresh positive crossover below the zero line. The stock has corrected from the peak of 300 to the lows of 146 and the stock is expected to bounce for a 38% retracement i.e. 205. Key support at 164 & 160 and resistance at 184 and 205.
ACC – Buy in the range between Rs 1925 & Rs 1945; Stoploss: 1875; Target: Rs 2185
ACC has broken out of an inverted head and shoulder pattern and is expected to continue the uptrend. Momentum indicator has already given a positive crossover trading above the zero line. The stock has corrected from the peak of 2844 to the lows of 1778 and the stock is expected to bounce for a 38% retracement i.e. 2185. Key support is at 1875 & 1826 and resistance at 2020 and 2185.
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.
