Stock market recommendations: According to Somil Mehta, major – alternative research, capital market strategy, Mirre Asset Sharekhan, Indus Tower, Jindal Steel & Power are the top stocks to buy today:Indus Tower – Buy at the range of Rs 392 and Rs 398; Stop Loss: Rs. 375; Target: Rs 440The Indus Tower is out of a triangle pattern on the daily chart and is expected to resume uptrend. Momentum indicators have also given a positive crossover above the zero line. Stock has been integrated into a broad range since last month and has shut down above 20 daily moving average IE 387, to resume your trend today. Stock is expected to continue UP’s trend till the last swing high 440. The major resistance is 421 and 440 and the support is at 387 and 375. Jindal Steel and Power – Buy within the range between Rs 970 and Rs 980; Stop Loss: Rs. 930; Target: Rs 1,065Jindal Steel & Power is broken by a rapid flag pattern and uptrend is expected to resume. The stock has been consolidating since last week and has taken support on 20 daily moving averages IE 946. The Momentum Indicator has given a positive crossover around the zero line. Stock is expected to continue UP’s trend till the last swing high 1065. The major resistance is at 1010 and 1065 and the support is at 957 and 930. 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.
