Top Stock Picks for Today

Three Stocks to Buy Today as Recommended by Ankush Bajaj
Ashok Leyland Ltd, Eicher Motors Ltd, and Mahindra & Mahindra Ltd are three auto sector stocks that are recommended to buy today by Ankush Bajaj. Here’s a detailed analysis of each stock and their technical recommendations.

1. Ashok Leyland Ltd

Current price: ₹230.70
Why it’s recommended: The stock has given a rectangle breakout on the hourly chart, breaking the upper channel of the falling wedge pattern. The RSI is also positive, indicating a good rally in this stock.
Key metrics:

Breakout level: ₹230
Chart pattern: Rectangle breakout + Falling wedge channel
Time frame: Hourly

Technical analysis: A technical breakout along with bullish chart patterns and a positive RSI suggests upside momentum. The stock is likely to move towards its next resistance levels.
Risk factors: Auto sector stocks may face price volatility due to raw material cost changes, monthly sales fluctuations, and macroeconomic conditions.
Buy at: ₹230.70 | Target price: ₹238– ₹242 in 1–2 weeks | Stop loss: ₹227

2. Eicher Motors Ltd

Current price: ₹5,740
Why it’s recommended: After making a recent high near ₹5,900, the stock corrected and has now taken support around the ₹5,700 level. A bounce from this support zone is visible, and the stock is expected to retest the ₹5,900 levels soon.
Key metrics:

Support level: ₹5,700
Chart pattern: Support-based reversal
Time frame: Hourly

Technical analysis: The stock has shown signs of strength after a healthy correction from recent highs. The strong support at ₹5,700 and bullish reversal pattern suggest potential upside in the near term.
Risk factors: Auto sector stocks may experience volatility due to demand fluctuations, supply chain disruptions, and rising input costs.
Buy at: ₹5,740 | Target price: ₹5,780– ₹5,800 in 1–2 weeks | Stop loss: ₹5,705

3. Mahindra & Mahindra Ltd

Current price: ₹2918
Why it’s recommended: The stock’s RSI on the lower time frame is trading above 60, indicating bullish momentum. It has also closed above an important level, which was the recent high of ₹2,900. Additionally, volumes are supporting the uptrend.
Key metrics:

Breakout level: ₹2,900
Chart pattern: RSI strength + Volume supported breakout
Time frame: Hourly

Technical analysis: A close above the previous high with strong RSI and supporting volumes suggests continuation of the bullish trend. The stock is likely to test higher resistance levels soon.
Risk factors: The auto sector stocks may face risk from regulatory changes, commodity price fluctuations, and sector-specific headwinds.
Buy at: ₹2,918 | Target price: ₹2,998– ₹3,010 in 1–2 weeks | Stop loss: ₹2,868

Other Stock Recommendations

JUBLFOOD is recommended to buy at CMP and dips to ₹690 with a stop loss at ₹670 and a target price of ₹770-790 in 3 months.
KIRLPNU is recommended to buy at CMP and dips to ₹1,200 with a stop loss at ₹1,175 and a target price of ₹1,450-1,500 in 3 months.
NEWGEN is recommended to buy at CMP and dips to ₹950 with a stop loss at ₹925 and a target price of ₹1,120-1,180 in 3 months.
Two stock recommendations are also provided by MarketSmith India for Godrej Properties Ltd and Max Healthcare Institute Ltd.

Authors

Raja Venkatraman is a co-founder of NeoTrader and a Sebi-registered research analyst. His Sebi-registered research analyst registration no. is INH000016223.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
MarketSmith India is a trade name of William O’Neil India Pvt. Ltd., which is a Sebi-registered research analyst. Its Sebi-registered research analyst registration number is INH000015543.