Market analysts have identified JSW Energy as a key buy opportunity in the power sector. According to Deven Mehata, Manager – Technical & Derivatives Analyst at IDBI Capital Market and Securities Ltd, the stock shows positive price action in the power sector. He has recommended a buy on JSW Energy for a target of ₹620, advising traders to maintain a stop loss at ₹549 to manage downside risk. Recent market data shows India's peak power demand eased to 241 GW as of June 16, down from the record high of 270.8 GW last month and 259 GW on June 9. The average spot power price fell 18% year-on-year to ₹3.6 per kWh in mid-June, with the real-time market price standing at ₹4.5 per kWh on June 16 compared with ₹6.5 per kWh on May 21 when demand hit record levels.
In the satellite communication space, Nelco has been identified as a buying opportunity by Deven Mehata of IDBI Capital Market and Securities Ltd. He recommended buying Nelco for an upside target of ₹805, with a stop loss at ₹710 to protect against potential downside. This recommendation targets the growing satellite communication sector, with recent developments showing Reliance Jio plans to build a 1,600-satellite broadband network, looking to launch satellite broadband services within three years according to The Economic Times.
The automotive sector shows technical strength with Eicher Motors being recommended by Ajit Mishra, SVP-Research at Religare Broking. He has suggested a buy on Eicher Motors for a target of ₹7,820, indicating a stop loss at ₹7,380 to manage downside risk. The stock has broken out of a two-month consolidation phase and shows strong upward momentum, trading above key moving averages and exhibiting bullish indicators like the MACD crossover. Short-term traders can look to buy the stock for a target of ₹8,000 in the next few weeks, with experts suggesting accumulation in the ₹7,580–₹7,500 zone with a stop loss at ₹7,300. The sector faces mixed brokerage sentiment, with BofA maintaining Underperform on Tata Motors PV with a target price of ₹335, while Jefferies kept Underperform with a target of ₹300.
The industrial manufacturing segment shows momentum with Bharat Forge being recommended by Ajit Mishra of Religare Broking. He has suggested an entry for an upside target of ₹2,140, advising traders to keep a stop loss at ₹1,980. This recommendation targets the growing industrial manufacturing sector, with recent developments showing Shyam Metalics aiming to grow revenue 2.3 times to ₹42,647 crore and EBITDA 2.7 times to ₹6,236 crore over FY26–31. The company is targeting 22% RoCE, 20% return on equity and a net cash position by FY31.
The IT consulting and software space shows strong technical momentum with Sonata Software being recommended by VLA Ambala, SEBI registered Research Analyst and Founder of SMT Stock Market. She has recommended a buy on Sonata Software for upside targets of ₹300, ₹340 and ₹400, with traders advised to protect positions with a stop loss at ₹235. The sector faces challenges with Nifty IT falling 1.71%, the most among sectoral indices, while Nifty Defence rose 0.55% and Nifty FMCG at 0.30%. However, Macquarie named Asian Paints, Titan, Trent, Devyani and HUL as preferred plays if inflation pressure stays lower, citing that crude moderation could aid Asian Paints and HUL margins.
