Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, Force Motors, GMR Airports, and Hindalco are the top stock picks for today:
FORCE MOTORS: BUY Near ₹7150 | Stop Loss: ₹6625 | Target: ₹8000 / ₹8200
The stock has displayed exceptionally high relative strength, holding firm without any significant decline. A clear breakout was observed today, with both price action and daily RSI confirming the move. Additionally, ADX is in a rising mode, indicating strengthening trend momentum.
Thus, traders are advised to buy FORCEMOT in the range of ₹7100–₹7200, with a stop-loss at ₹6625 on a closing basis for an upside target of ₹8000 and ₹8200 in the coming 1–3 months.
GMR AIRPORTS: BUY Near ₹71 | Stop Loss: ₹66 | Target: ₹81 / ₹82
During August 2024, GMRAIRPORT was trading above ₹100 before correcting toward ₹70. Currently, the stock is near its previous breakout zone around ₹65–₹68, which could attract buying demand. A breakout is underway, with multiple bottoms near ₹68, signalling a potential pullback.
Thus, traders are advised to buy GMRAIRPORT in the range of ₹70–₹72, with a stop-loss at ₹66 on a closing basis, for an upside target of ₹81 and ₹82 in the coming 1–3 months.
HINDALCO: BUY Between ₹633–₹637 | Stop Loss: ₹608 | Target: ₹680
The entire month of February has been phenomenal for HINDALCO, rallying 18% from the ₹560 bottom. However, last week, the stock witnessed a healthy 6% correction from ₹656. Currently, HINDALCO has closed above its previous breakout zone, forming a hammer-like candlestick that aligns with the R1 monthly pivot, indicating potential continuation of the uptrend.
Thus, traders are advised to buy HINDALCO in the ₹633–₹637 range, with a stop-loss at ₹608 on a closing basis, for an upside target of ₹680.
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.
