Top Stock Picks for Today: Expert Recommends Meghmani Organics, HCL Tech, and DLF for Strong Gains

Indian stock markets, Sensex and Nifty 50, ended Tuesday on a flat note amid mixed global signals. Despite some gains in specific stocks, overall market sentiment was cautious. The Nifty 50 index closed slightly down by 0.05%, settling at 25,796.90 points, while the BSE Sensex ended the day at 84,266.29 points, down 0.04%. Markets were closed on Wednesday, October 2, for Gandhi Jayanti.

Vaishali Parekh’s Stock Recommendations for Today

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, noted that the Nifty 50 showed consolidation around the 25,800 zone after two days of losses. She expects a market rebound soon, with Nifty 50 finding support at 25,650 points and resistance at 26,000 points. The Bank Nifty index is expected to trade between 52,600 and 53,400 today.

For October 3, Parekh suggests buying these three stocks:

Meghmani Organics Ltd. (MOL)
Buy at ₹104; Target at ₹110; Stop Loss at ₹100.

HCL Technologies Ltd. (HCLTECH)
Buy at ₹1,812; Target at ₹1,880; Stop Loss at ₹1,780.

DLF Ltd. (DLF)
Buy at ₹914; Target at ₹950; Stop Loss at ₹890.

Market Outlook

Parekh expects Nifty to pull back from its consolidation phase near 25,800 after a two-day losing streak, marked by a Doji candle pattern on the daily chart. She believes Nifty will find crucial support at 25,650, and breaking past 26,000 will indicate further upward momentum.

For Bank Nifty, the index recently dropped from its peak of 54,467 points. Parekh sees strong support around 52,600, and if this level holds, an uptrend is likely. A breach above 53,400 will improve market sentiment for further gains in the coming sessions.