Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Aurobindo Pharma and IRCTC are the top stocks to buy today:
Aurobindo Pharma – Buy in the range between Rs 1240 & Rs 1250; Stop Loss: Rs 1202; Target: Rs 1356
Aurobindo Pharma has formed a flag pattern and expected to break out on the upside. The momentum indicator has also given a positive crossover above the zero line. The stock has been consolidating in a broad range since a few trading sessions and has closed above 20 hourly moving average i.e.1202, resuming the up trend today. The stock is expected to continue the up trend till the previous swing high i.e. 1356. Key resistance is 1279 & 1356 and support is at 1203 and 1191.
IRCTC – Buy in the range between Rs 760 & Rs 770; Stop Loss: Rs 745; Target: Rs 802
IRCTC has broken a small consolidation on the upside. The stock has been consolidating since last week and has taken support at 20 daily moving average i.e. 750. Momentum indicator has given positive crossover above the zero line. The stock is expected to continue the up trend till the 200 Daily moving average i.e. 802. Key resistance is at 787 & 802 and support is at 745 and 735.
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.
