Three stocks to buy, recommended by Ankush Bajaj
Redington Ltd: Buy at ₹216.40; Target ₹227-232; Stop loss ₹209.
The stock performed well yesterday, rallying 4.67% and successfully closing above the important ₹211 level. The volume was strong, and the stock managed to close above the trend line. This indicates bullish momentum, and a good rally is expected in the near term.
BSE Ltd: Buy at ₹5,994; Target ₹6,220-6,250; Stop loss ₹5,800.
Despite broader market weakness, the stock on BSE managed to close at a new lifetime high. This rally is expected to continue for a few more days. Traders can consider initiating a long position with a small stop loss.
Indus Towers Ltd: Buy at ₹354.60; Target ₹362-366; Stop loss ₹348.
If we look at the 1-hour chart, the stock has closed above the downward channel trendline, accompanied by a spike in volume. Additionally, momentum indicators like RSI are also trending upward. This suggests a bullish setup, and we can consider going long with a small stop loss.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Minda Corp: Buy ₹591, stop ₹574 target ₹640
After consolidating for the last three months, the trends in this counter is starting to pick up. The robust long body candles that are associated gold financing stocks have been faring quite steadily. The rise of prices of this counter has been quite steady and the recent market correction did not take much sheen from the prices. With robust momentum building up, we can look at the whole setup heading higher once again, consider going long.
Ashapura Minechem: Buy above ₹475, stop ₹460 target ₹525
This counter after a sharp run witnessed some profit booking and is now taking steady support at the TS & KS line highlighting the possibility of a revival. A strong showing on Thursday highlights positive sentiment. As the momentum is seen moving above important RSI zones we can consider going long.
AU Small Finance Bank: Buy above ₹602, stop ₹585, target ₹655
This banking counter, after a long phase of sideways action, shows that the buying interest emerges from lower levels. As momentum is gathering steam look to initiate long significant momentum in the last session, we can witness some trended action. Volumes are also seen picking up highlighting possibility of the trends to continue.
Stocks to buy, recommended by MarketSmith India
● Niva Bupa Health Insurance Co. Ltd: Current market price ₹ 82.19 | Buy range ₹ 81.50–83 | Profit goal ₹ 99 | Stop loss ₹ 75 | Timeframe 1–2 Months
● Ashoka Buildcon: Current market price ₹ 289.40 | Buy range ₹ 287–290 | Profit goal ₹ 350 | Stop loss ₹ 262 | Timeframe 1–2 Months
About the analysts: Ankush Bajaj is a Sebi-registered research analyst (registration number INH000010441). Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
