Three stocks to buy today, as recommended by Ankush Bajaj:
Ashok Leyland Ltd (current price: ₹230.70)
Why it’s recommended: The stock has given a rectangle breakout on the hourly chart. Also, it has broken the upper channel of the falling wedge pattern. RSI is also positive, expecting a good rally in this stock.
Key metrics: Breakout level: ₹230 | Chart pattern: Rectangle breakout + Falling wedge channel | Time frame: Hourly
Technical analysis: A technical breakout along with bullish chart patterns and a positive RSI suggests upside momentum. The stock is likely to move towards its next resistance levels.
Risk factors: Auto sector stocks may face price volatility due to raw material cost changes, monthly sales fluctuations, and macroeconomic conditions.
Buy at: ₹230.70 | Target price: ₹238– ₹242 in 1–2 weeks | Stop loss: ₹227
Eicher Motors Ltd (current price: ₹5740)
Why it’s recommended: After making a recent high near ₹5,900, the stock corrected and has now taken support around the ₹5,700 level. A bounce from this support zone is visible, and the stock is expected to retest the ₹5,900 levels soon.
Key metrics: Support level: ₹5,700 | Chart pattern: Support-based reversal | Time frame: Hourly
Technical analysis: The stock has shown signs of strength after a healthy correction from recent highs. The strong support at ₹5,700 and bullish reversal pattern suggest potential upside in the near term.
Risk factors: Auto sector stocks may experience volatility due to demand fluctuations, supply chain disruptions, and rising input costs.
Buy at: ₹5,740 | Target price: ₹5,780– ₹5,800 in 1–2 weeks | Stop loss: ₹5705
Also Read: Tariffs, tumbles & turnarounds: Three stocks to watch amid global trade jitters
Mahindra & Mahindra Ltd (current price: ₹2918)
Why it’s recommended: The stock’s RSI on the lower time frame is trading above 60, indicating bullish momentum. It has also closed above an important level, which was the recent high of ₹2,900. Additionally, volumes are supporting the uptrend.
Key metrics: Breakout level: ₹2,900 | Chart pattern: RSI strength + Volume supported breakout | Time frame: Hourly
Technical analysis: A close above the previous high with strong RSI and supporting volumes suggests continuation of the bullish trend. The stock is likely to test higher resistance levels soon.
Risk factors: The auto sector stocks may face risk from regulatory changes, commodity price fluctuations, and sector-specific headwinds.
Buy at: ₹2,918 | Target price: ₹2,998– ₹3,010 in 1–2 weeks | Stop loss: ₹2,868
Here are three stocks to buy or sell as recommended by Raja Venkatraman for Thursday , 24 April.
JUBLFOOD: Buy CMP and dips to ₹690 | Stop ₹670 | Target ₹770-790
Why it’s recommended: The company’s innovative strategies and strong market position in the foodservice sector provide growth potential.
Key metrics: P/E: 120.98 | 52-week high: ₹796.75 | Volume: 1.03M
Technical analysis: Support at ₹680 | Resistance at ₹820.
Risk factors: High valuation and dependence on discretionary consumer spending.
Buy at: CMP and dips to ₹690 | Target price: ₹770-790 in 3 months | Stop loss: ₹670
KIRLPNU: Buy CMP and dips to ₹1,200 | Stop ₹1,175 target ₹1,450-1,500
Why it’s recommended: The stock has shown robust growth in revenue and profit, with strong demand for its industrial machinery products.
Key metrics: P/E: 39.45 | 52-week high: ₹1,817 | Volume: 160.14k.
Technical analysis: Support at ₹1,165 | Resistance at ₹1,500.
Risk factors: Dependence on industrial demand and global economic conditions.
Buy at: CMP and dips to ₹1,200 | Target price: ₹1,450-1,500 in 3 months | Stop loss: ₹1,175
NEWGEN: Buy CMP and dips to ₹950 | Stop ₹925 | Target ₹1,120-1,180
Why it’s recommended: The company’s strong position in digital transformation solutions and recent international contract wins make it a compelling choice.
Key metrics: P/E: 43.66 | 52-week high: ₹1,798.90 | Volume: 198.81k.
Technical analysis: Support at ₹900 | Resistance at ₹1,200.
Risk factors: High valuation and competition in the software sector.
Buy at: CMP and dips to ₹950 | Target price: ₹1,120-1,180 in 3 months | Stop loss: ₹925
Two stock recommendations by MarketSmith India:
Godrej Properties Ltd (current price: ₹2152.4)
Why it’s recommended: Strong sales growth and robust pipeline, strategic land acquisitions, and project launches
Key metrics: P/E: 41.11 | 52-week high: ₹3,402.70 | Volume: ₹ 15.01 lakh
Technical analysis: Reclaimed its 50-DMA
Risk factors: Market and economic cyclicality, financial leverage, and liquidity concerns
Buy at: ₹ 2,152.4 | Target price: ₹ 2,425 in three months | Stop loss: ₹ 2,040
Max Healthcare Institute Ltd (current price: ₹ 1,129)
Why it’s recommended: Robust financial performance, strategic expansion
Key metrics: P/E: 103.48 | 52-week high: ₹ 228 | Volume: ₹19.45 crore
Technical analysis: Downward sloping trendline breakout
Risk factors: Capex Execution Risks, Market Competition
Buy at: ₹1,129 | Target price: ₹1,295 in three months | Stop loss: ₹1,055
About the authors:
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
MarketSmith India: Trade name: William O’Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.
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 guarantees 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.”
