Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, GAEL, Nazara Tech and Asian Paints are the top stock picks for today:
GAEL: BUY in โน114โ119 Range | Stop Loss: โน99 (Closing Basis) | Target: โน140 / โน150
GAEL has recently broken out after consolidating within the โน99โโน110 range, signalling renewed bullish momentum. This consolidation took place precisely at the S3 yearly Camarilla pivot, a critical support level, further reinforcing the bullish bias.
Additionally, a bullish divergence on the RSI is visible on the daily chart, offering further confirmation of potential upward movement in the short to medium term.
Traders are advised to buy GAEL in the โน114โ119 range, with a stop-loss at โน99 on a closing basis, targeting โน140 and โน150 over the next 1โ3 months.
Nazara Tech: BUY at โน955 | Stop Loss: โน915 | Target: โน1040
Nazara Tech has been an outperformer and continues to show strong momentum. In todayโs session, the stock gave a range breakout, signalling a fresh leg of upward movement.
A breakout above โน975 will confirm an emerging inverse Head and Shoulders pattern, which would add further strength to the bullish setup.
Traders are advised to buy Nazara Tech at โน955, with a stop-loss at โน915, and a target of โน1040 in the near term.
Asian Paints: BUY in โน2300โ2400 Range | Stop Loss: โน2100 (Closing Basis) | Target: โน2800 / โน2850
Over the past three months, Asian Paints has been consolidating within a broad range of โน2150โโน2350, reflecting market indecision. Recently, the stock broke out of a bearish trendline, indicating the potential start of bullish momentum in the coming weeks.
A hidden bullish divergence on the daily RSI, combined with an impulsive price structure, further supports a positive outlook for the stock.
Traders are advised to buy Asian Paints in the โน2300โ2400 range, with a stop-loss at โน2100 on a closing basis, and targets of โน2800 and โน2850 over the next 1โ3 months.
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.