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Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, Saregama and Jio Financial Services are the top stocks to buy today, while Power Grid is a sell call:
SAREGAMA LTD: BUY in ₹533–527 Range | Stop Loss: ₹498 | Target: ₹590
SAREGAMA has been sustaining and consolidating above its 200 DEMA for the past few weeks, indicating strength in the ongoing trend.
The stock has now given a clear breakout from its consolidation range, forming a classic inverse head and shoulder pattern, which typically signals a bullish reversal.
Additionally, there is a breakout from the falling trendline, further reinforcing bullish momentum.
Traders are advised to buy SAREGAMA in the ₹533–527 range, with a stop-loss at ₹498, aiming for an upside target of ₹590 in the coming weeks
JIOFIN: BUY in ₹236–230 Range | Stop Loss: ₹223 | Target: ₹253
After months of consolidation, Jio Financial Services has finally given a breakout above ₹235, indicating the beginning of a fresh uptrend.
A double bottom formation is visible at the ₹203 level, providing a strong reversal signal.
Additionally, we are witnessing a breakout in the daily RSI along with a positive crossover in ADX (14), both of which further support the bullish outlook.
Traders are advised to buy JIOFIN in the ₹236–230 range, with a stop-loss at ₹223, aiming for an upside target of ₹253 in the short term
POWER GRID: SELL Futures below ₹304 | Stop Loss: ₹310 | Target: ₹292
POWER GRID has rallied significantly from its recent low of ₹247, but now shows signs of exhaustion.
The stock is currently stuck near the 200 DEMA, which is acting as a strong resistance zone. We are also witnessing negative divergence in the daily RSI, indicating weakening momentum. With the rally showing signs of saturation, some profit booking is expected at current levels.
Traders are advised to sell POWER GRID Futures below ₹304, with a stop-loss at ₹310, targeting ₹292 in the near term.
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.
