Stock market recommendations:
According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, Jio Financial Services, Tata Motors and Finolex Industries are the top stock picks for today:JIOFIN: BUY Near ₹235 | Stop Loss: ₹199 | Target: ₹305After a sharp 41% correction from its peak of ₹394, Jio Financial Services is showing signs of bottoming near a strong previous support level. A bullish RSI divergence on the daily chart indicates a potential reversal, while a breakout above ₹245 would further confirm strength. Traders are advised to go long near ₹235, with an upside target of ₹305 and a stop-loss at ₹199 on a daily closing basis.
TATAMOTORS: BUY Near ₹690 | Stop Loss: ₹565 | Target: ₹940After a sharp 42% correction from its peak of ₹1,179, Tata Motors is currently trading around ₹707 and has formed a bullish RSI divergence over the last three bottoms, indicating potential reversal signs. This divergence is occurring near the S3 Camarilla quarterly pivot, a strong support level. Given this setup, traders may look to accumulate in the ₹670 - ₹710 zone, anticipating a recovery towards ₹940, with a strict stop-loss at ₹565 on a daily closing basis.
FINOLEX INDS: BUY Near ₹206 | Stop Loss: ₹195 | Target: ₹225FINEPIPE has been in a corrective phase since its peak of ₹335 and recently dipped below the ₹200 mark. However, multiple positive divergences on the daily RSI suggest a potential reversal. The stock is now on the verge of a breakout, which could confirm a trend change. Traders can look to initiate long positions near ₹206, with an upside target of ₹225 and a strict stop-loss at ₹195 to manage risk effectively.
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.The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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