Latest news with #SomilMehta
Time of India
2 days ago
- Business
- Time of India
Top stocks to buy today: Stock market recommendations for June 10, 2025
Top stocks to buy today (AI image) Stock market recommendations: According to Somil Mehta, Head - Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Indus Tower, Jindal Steel & Power are the top stocks to buy today: Indus Tower – Buy in the range between Rs 392 & Rs 398; Stop Loss: Rs 375; Target: Rs 440 Indus Tower has broken out of a Triangle pattern on daily charts and expected to resume the uptrend. Momentum indicators have also given a positive crossover above the zero line. The stock has been consolidating in a broad range since last month and has closed above 20 daily moving average i.e. 387, resuming the up trend today. The stock is expected to continue the up trend till the previous swing high 440. Key resistance is 421 & 440 and support is at 387 and 375. Jindal Steel & Power – Buy in the range between Rs 970 & Rs 980; Stop Loss: Rs 930; Target: Rs 1,065 Jindal Steel & Power has broken out of a bullish flag pattern and expected to resume the uptrend. The stock has been consolidating since last week and has taken support at 20 daily moving average i.e. 946. Momentum indicator has given positive crossover around the zero line. The stock is expected to continue the up trend till the previous swing high 1065. Key resistance is at 1010 & 1065 and support is at 957 and 930. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
27-05-2025
- Business
- Time of India
Top stocks to buy today: Stock market recommendations for May 27, 2025
Top stocks to buy today (AI image) Stock market recommendations: According to Somil Mehta, Head - Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, CAMS (Computer Age Management Services) and Inox Wind are the top stocks to buy today: CAMS – Buy in the range between Rs 3980 & Rs 3990; Stop Loss: Rs 3838; Target: Rs 4199 CAMS (Computer Age Management Services) has broken out of a small consolidation and expected to resume the uptrend. Momentum indicators has also given a positive crossover above the zero line. The stock has been consolidating in a broad range since last week and has closed above 200 daily moving average i.e. 3911, resuming the up trend today. The stock is expected to continue the up trend till the 50% retracement of the previous fall i.e. 4199. Key resistance is 4127 & 4199 and support is at 3911 and 3838. Inox Wind – Buy in the range between Rs 191 & Rs 192; Stop Loss: Rs 181; Target: Rs 213 Inox Wind has broken out of a bullish flag pattern and expected to resume the uptrend. The stock has been consolidating since last week and has taken support at 10 daily moving average i.e. 182.90. Momentum indicator has given positive crossover above the zero line. The stock is expected to continue the up trend till the previous swing high i.e. 213. Key resistance is at 200 & 213 and support is at 183 and 181. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
06-05-2025
- Business
- Time of India
Top stocks to buy today: Stock market recommendations for May 6, 2025
Top stocks to buy today (AI image) Stock market recommendations : According to Somil Mehta, Head - Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Aurobindo Pharma and IRCTC are the top stocks to buy today: Aurobindo Pharma – Buy in the range between Rs 1240 & Rs 1250; Stop Loss: Rs 1202; Target: Rs 1356 Aurobindo Pharma has formed a flag pattern and expected to break out on the upside. The momentum indicator has also given a positive crossover above the zero line. The stock has been consolidating in a broad range since a few trading sessions and has closed above 20 hourly moving average i.e. 1202, resuming the up trend today. The stock is expected to continue the up trend till the previous swing high i.e. 1356. Key resistance is 1279 & 1356 and support is at 1203 and 1191. IRCTC – Buy in the range between Rs 760 & Rs 770; Stop Loss: Rs 745; Target: Rs 802 IRCTC has broken a small consolidation on the upside. The stock has been consolidating since last week and has taken support at 20 daily moving average i.e. 750. Momentum indicator has given positive crossover above the zero line. The stock is expected to continue the up trend till the 200 Daily moving average i.e. 802. Key resistance is at 787 & 802 and support is at 745 and 735. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
21-04-2025
- Business
- Time of India
Nifty & Bank Nifty positive in medium, short-term; buy on dips: Somil Mehta
Somil Mehta , Head of Alternate Research, Mirae Asset Sharekhan , predicts a continued uptrend for both Nifty and Bank Nifty. The immediate target for Nifty is 24,500, a crucial level representing 61% recovery from the past six months' decline, with 24,800 as the subsequent target. Bank Nifty is expected to outperform, aiming for 56,000 in the short term. Nifty today managed to break past the psychological level of 24,000. We are trading at the highest point of the day. Nifty Bank is surging in all cylinders, leading the rally. What are the levels that you are working for as far as Nifty is concerned and also the Nifty Bank? Somil Mehta: Yes, the rally has been amazing and it has been making higher tops and higher bottoms. All the sectors are looking great. The sectors which were lagging have started moving up as well. Like auto, IT has just started the move. I do not see Nifty breaking anywhere or having any breaks in the short term. The next level to watch out for is 24,500 and once we cross 24,500 the next level would be 24,800. So, 24,500 is the 61% of the entire fall which we saw in the last six months, so that is the next level to watch out for. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Wife won't let go of dog, husband finds out why and calls police - watch! Happy in Shape Undo Bank Nifty has outperformed and I will be expecting Bank Nifty to continue the uptrend and the next level to watch out for Bank Nifty is at least 56,000 in the very short term, in the medium-term outlook maybe there will be a small correction and then again the uptrend will resume. Medium-term, short-term both positive for Nifty and Bank Nifty and buy on decline should be the strategy. Within financials, what is your pecking order looking like because the private banking names are doing well, but do you believe that now is the time to look at some of the PSU counters as well? Somil Mehta: Of course, PSU banks have done well in the last couple of months and I am expecting Bank of Baroda, South Indian Bank, smaller banks Can Bank, SBI all of them are looking great. SBI has already moved up, but if you see Bank of Baroda, Canara Bank, PNB these counters are still there is a lot of room upside down. So, from here, I will be expecting at least 5% to 7% from these levels in the short term. What are your top picks? What are your long positions in this market? What are the pockets of value and what stocks are you picking out for us today? Somil Mehta: I am picking one of the stocks from auto. As I said, auto has started revving up now and if the markets have to go till 25,000, then autos will have to participate. Bajaj Auto would be my top pick and the stop loss would be Rs 8,000, the targets are Rs 8,650. It probably would go above that but at this point of time, 8,650 would be my target. Live Events You Might Also Like: Top Nifty50 stocks analysts suggest buying in this volatile week The next stock I am picking is Federal Bank from the banking side, which has great momentum at this point of time. The stop loss would be Rs 195 for Federal Bank and the target would be 215 in the short term. You Might Also Like: Contra view: Kenneth Andrade says exporters offer better opportunities than domestic-facing companies Why is the stock market rising today? Sensex surges over 1,000 pts, Nifty above 24,150; 5 key factors behind today's rally
