Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Hudco and Indian Hotels are the top stocks to buy today:Hudco – Buy in the range between Rs 246 & Rs 250; Stop Loss: Rs 235; Target: Rs 280Hudco has broken out of a small consolidation and expected to resume the uptrend. Momentum indicators have also given a positive crossover above the zero line. The stock has been consolidating in a broad range since last week and has closed above 200 daily moving average i.e. 217, resuming the up trend today. The stock is expected to continue the up trend till the 61% retracement of the previous fall i.e. 280. Key resistance is 256 & 280 and support is at 235 and 224. Indian Hotels – Buy in the range between Rs 780 & Rs 790; Stop Loss: Rs 758; Target: Rs 835Indian Hotels has broken out of a bullish flag pattern and expected to resume the uptrend. The stock has been consolidating since last week and has taken support at 20 daily moving average i.e. 772. Momentum indicator has given positive crossover around the zero line. The stock is expected to continue the up trend till the falling trend line forming a triangle pattern i.e. 835. Key resistance is at 800 & 835 and support is at 758 and 740. 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.
