Indian stock markets, Sensex and Nifty 50, are expected to open on a weak note on Friday due to mixed global signals. The Nifty 50 ended lower on Thursday, closing below the 25,200 mark. Sensex dropped 151.48 points to close at 82,201.16, and Nifty 50 fell by 53.60 points to end at 25,145.10.
Chandan Taparia, Head of Equity Derivatives and Technicals at MOFSL Wealth Management, has suggested three stocks to buy today. He believes these stocks have strong technical setups and could see a good rise.
Here are Chandan Taparia’s top 3 stock picks for today:
Titan Company | Buy | Target Price: ₹3,900 | Stop Loss: ₹3,625
Titan’s stock has formed an Ascending Triangle with an upward breakout, indicating a potential bullish move. The MACD indicator shows a bullish crossover, suggesting strong momentum for an upward trend.
Recommendation: Buy at the current price with a target of ₹3,900 and a stop loss at ₹3,625.
Lupin | Buy | Target Price: ₹2,380 | Stop Loss: ₹2,240
Lupin is in a strong uptrend with a bullish engulfing pattern, signaling continued upward movement. The ROC indicator has also turned positive, confirming the trend.
Recommendation: Buy with a target price of ₹2,380 and a stop loss at ₹2,240.
Cholamandalam Investment and Finance Company | Buy | Target Price: ₹1,650 | Stop Loss: ₹1,480
Cholamandalam’s stock price has broken out of its consolidation zone with strong buying volumes. The ADX Line is moving up, and the Positive DI is well above the Negative DI, indicating a strong upward trend.
Recommendation: Buy with a target price of ₹1,650 and a stop loss at ₹1,480.
These stock picks could offer a great opportunity for gains in today’s market, according to Chandan Taparia.
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