Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on diversified conglomerates, pharmaceuticals, asset management, public sector banking, and heavy electrical equipment.
Top picks include conglomerate heavyweight Grasim Industries, pharma major Aurobindo Pharma, Aditya Birla Sun Life AMC, public sector lender Bank of Maharashtra, and state-owned engineering firm BHEL.
Grasim
Ruchit Jain, Vice President, Equity Technical Research, Wealth Management at Motilal Oswal, sees technical strength in the diversified conglomerate. He recommended a buy on Grasim Industries with a target of Rs 3,200, advising traders to maintain a stop loss at Rs 3,000.
Aurobindo Pharma
Ajit Mishra, SVP-Research at Religare Broking, identified a buying opportunity in the pharmaceutical sector. He recommended entering Aurobindo Pharma at the current market price of Rs 1,465 for an upside target of Rs 1,530, while protecting the position with a stop loss at Rs 1,430. (Disclaimer: https://religareonline.com/disclaimer)
ABSL AMC
Gaurav Sharma, Associate VP & HOR at Globe Capital, highlighted momentum in the asset management space with a buy call on Aditya Birla Sun Life AMC (ABSL AMC). He recommended an entry at the current market price of Rs 1,110 for an upside target of Rs 1,200, advising traders to keep a strict stop loss at Rs 1,075.
Bank of Maharashtra
Ruchit Jain of Motilal Oswal also sees positive price action in the public sector banking segment. He recommended a buy on Bank of Maharashtra for a target price of Rs 89, suggesting a stop loss at Rs 81 to manage downside risk.
BHEL
Gaurav Sharma of Globe Capital identified a shorting opportunity in the heavy electrical equipment sector due to overhead resistance. He recommended a sell on Bharat Heavy Electricals Limited (BHEL) June Futures at the current market price of Rs 382 for a downside target of Rs 360, advising traders to protect the position with a stop loss at Rs 392.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.