Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, JSW Energy and Oberoi Realty are the top stocks to buy today:
JSW Energy – Buy in the range between Rs 525 & 520; Stoploss: Rs 501
JSW Energy has broken a flag pattern on the upside today. The momentum indicator has also given a positive crossover above the zero line. The stock has been consolidating in a broad range since a couple of weeks and has closed above 20 daily moving average i.e.514, resuming the up trend. The stock is expected to continue the up trend till the 50% retracement of the previous fall from 804 to 418. Key resistance is 534 & 566 and support is at 514 and 501.
Oberoi Realty – Buy in the range between Rs 1655 & 1675; Stoploss: Rs 1593; Target: Rs 1792
Oberoi Realty has broken a small consolidation on the upside. The stock has been consolidating since last week and has bounced back sharply taking support at 20 daily moving average i.e. 1597. Momentum indicator has given positive crossover above the zero line. The stock is expected to continue the up trend till the 38% retracement of the previous fall from 2343 to 1451. Key resistance is at 1704 & 1792 and support is at 1593 and 1565.
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.
