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Top stock picks for today, June 9: Arkade Developers, ABREL and more
Stock recommendations:
Arkade Developers
Buy: ₹196.27
Stop loss: ₹178
Target price: ₹220
Arkade Developers has witnessed a breakout from a rounding formation on the daily timeframe, signalling accumulation and a strong bullish setup. The breakout is supported by higher volume on buying days compared to selling days, indicating sustained demand.
Technically, the stock is comfortably trading above its 20 EMA, which is expected to act as a dynamic support. Based on the current structure, the stock looks poised to move toward the 220 mark, with immediate support placed at ₹178. Track LIVE Stock Market Updates Here
Aditya Birla Real Estate
Stop loss: ₹2,285
Target price: ₹2,457
Aditya Birla Real Estate (ABREL) has formed a strong bullish candlestick on the daily chart, supported by the highest volume seen in the past six months, indicating strong buying interest. On the indicator front, RSI is placed above 60, confirming positive momentum and aligning with the broader bullish trend in the real estate sector.
Ujjivan Small Finance Bank
Buy: ₹47.83
Stop loss: ₹44
Target price: ₹55
Ujjivan Small Finance Bank on the daily timeframe, the stock surged nearly 7 per cent, forming a strong bullish candlestick, accompanied by a breakout from an ascending triangle pattern, typically a bullish continuation setup indicating renewed upward momentum.
On the indicator front, the Relative Strength Index (RSI) is heading north, reinforcing the strength of the current move and supporting the positive price action.
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