Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on power, pharmaceuticals, auto sector and chemicals. According to reports from NDTV Profit, these recommendations come from leading investment advisers across major brokerage houses, providing traders with targeted opportunities across multiple sectors.
Adani Power emerges as a key recommendation from Kotak Securities. Shrikant Chouhan, Executive VP & Head Equity Research at Kotak Securities, sees positive price action in the power generation space. He recommended a 'Buy' on Adani Power for a target price of ₹234, advising traders to maintain a stop loss at ₹216. This recommendation reflects growing optimism in the power generation sector among institutional analysts.
Glenmark Pharmaceuticals has received updated technical analysis recommendations with a 'Buy' rating at ₹2,270 and target price of ₹2,500. According to latest technical analysis, the stock has formed a good base above ₹2,150 with recent rise occurring on strong trendline support. A cluster of supports exists in the ₹2,220-₹2,180 region, where fresh buyers can enter to limit downside. The technical outlook suggests the corrective fall has ended and a new upward movement has begun. Traders are advised to accumulate on dips at ₹2,240 with stop-loss at ₹2,130, and trail the stop-loss up to ₹2,295 as soon as the stock reaches ₹2,330.
Tata Steel and Bajaj Auto complete the list of recommended stocks. Jigar Shantilal Patel, Senior Manager – Equity Technical Research at Anand Rathi, highlighted momentum in the steel segment with a 'Buy' on Tata Steel Ltd. for a target of ₹201, while protecting the position with a stop loss at ₹185. Additionally, Jigar Shantilal Patel at Anand Rathi placed a 'Buy' rating on automotive manufacturer Bajaj Auto, recommending buying the stock for targets of ₹10,700, with a stop loss maintained at ₹9,600.
