Stock market recommendations: According to Somil Mehta, major – alternative research, capital market strategy, Mirre Asset Sharekhan, Aurobindo Pharma and IRCTC are the top stocks to buy today:
Aurobindo Pharma – Buy within the range of Rs 1240 & 1250; Stop Loss: Rs 1202; Target: Rs 1356
Aurobindo Pharma has formed a flag pattern and is expected to break up on upside. The Momentum Indicator has also given a positive crossover above the zero line. Stock has been consolidating in a broad range since some trading sessions and average of 20 per hour is closed above IE.1202, to resume your trend today. Stock is expected to continue UP’s trend till the previous swing high IE 1356. The major resistance is 1279 and 1356 and the support is at 1203 and 1191.
IRCTC – Buy within the range between Rs 760 and Rs 770; Stop Loss: 745 rupees; Target: 802 rupees
IRCTC has broken a small consolidation inverted. The stock has been consolidating since last week and has taken support at 20 daily moving average IE 750. The Momentum Indicator has given a positive crossover over the zero line. 200 daily moving averages IE is expected to continue the stock until 802. The major resistance is at 787 and 802 and the support is at 745 and 735.
Disclaimer: The opinion, analysis and recommendations expressed here are of brokerage and do not reflect the views of the Times of India. Always consult a qualified investment advisor or financial planner before taking any investment decision.
