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 ₹114–119 Range | Stop Loss: ₹99 (Closing Basis) | Target: ₹140 / ₹150
GAEL has recently broken out after consolidating within the ₹99–₹110 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 ₹114–119 range, with a stop-loss at ₹99 on a closing basis, targeting ₹140 and ₹150 over the next 1–3 months.
Nazara Tech: BUY at ₹955 | Stop Loss: ₹915 | Target: ₹1040
Nazara Tech has been an outperformer and continues to show strong momentum. In today’s session, the stock gave a range breakout, signalling a fresh leg of upward movement.
A breakout above ₹975 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 ₹955, with a stop-loss at ₹915, and a target of ₹1040 in the near term.
Asian Paints: BUY in ₹2300–2400 Range | Stop Loss: ₹2100 (Closing Basis) | Target: ₹2800 / ₹2850
Over the past three months, Asian Paints has been consolidating within a broad range of ₹2150–₹2350, 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 ₹2300–2400 range, with a stop-loss at ₹2100 on a closing basis, and targets of ₹2800 and ₹2850 over the next 1–3 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.