Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, Jio Financial Services, Tata Motors and Finolex Industries are the top stock picks for today:
JIOFIN: BUY Near ₹235 | Stop Loss: ₹199 | Target: ₹305
After a sharp 41% correction from its peak of ₹394, Jio Financial Services is showing signs of bottoming near a strong previous support level. A bullish RSI divergence on the daily chart indicates a potential reversal, while a breakout above ₹245 would further confirm strength. Traders are advised to go long near ₹235, with an upside target of ₹305 and a stop-loss at ₹199 on a daily closing basis.
TATAMOTORS: BUY Near ₹690 | Stop Loss: ₹565 | Target: ₹940
After a sharp 42% correction from its peak of ₹1,179, Tata Motors is currently trading around ₹707 and has formed a bullish RSI divergence over the last three bottoms, indicating potential reversal signs. This divergence is occurring near the S3 Camarilla quarterly pivot, a strong support level. Given this setup, traders may look to accumulate in the ₹670 – ₹710 zone, anticipating a recovery towards ₹940, with a strict stop-loss at ₹565 on a daily closing basis.
FINOLEX INDS: BUY Near ₹206 | Stop Loss: ₹195 | Target: ₹225
FINEPIPE has been in a corrective phase since its peak of ₹335 and recently dipped below the ₹200 mark. However, multiple positive divergences on the daily RSI suggest a potential reversal. The stock is now on the verge of a breakout, which could confirm a trend change. Traders can look to initiate long positions near ₹206, with an upside target of ₹225 and a strict stop-loss at ₹195 to manage risk effectively.
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.
