Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, focusing on consumer, retail, automobiles, and public sector banking stocks. According to reports from NDTV Profit, the top picks for Monday, June 22, include Eternal, Trent, Eicher Motors, Union Bank of India, and Mankind Pharma. These recommendations come from Jigar Shantilal Patel, Senior Manager – Equity Technical Research at Anand Rathi Share and Stock Broker, and Deven Mehata, Manager – Technical & Derivatives Analyst at IDBI Capital Market and Securities Ltd.
Jigar Shantilal Patel recommended a buy on Eternal with a target of ₹288, advising traders to maintain a stop loss at ₹250. As reported by NDTV Profit, this recommendation targets the food-delivery platform's potential for continued growth in the digital food services sector. The latest analysis from Anand Rathi reveals that Eternal is in the process of completing an AB=CD harmonic pattern, with the stock currently advancing towards the projected Point D target, indicating the potential for further upside. The 50-day SMA continues to provide a strong support base, reinforcing the prevailing bullish trend, while momentum indicators remain supportive with the daily RSI above 60, MACD holding above the zero line, and the Stochastic Oscillator in the overbought zone.
Jigar Shantilal Patel highlighted continued momentum in the retail space and recommended a buy on Trent for a target of ₹3,650, advising traders to maintain a stop loss at ₹2,900. According to NDTV Profit, this recommendation reflects the positive outlook for retail sector stocks and Trent's specific growth prospects. The latest Anand Rathi analysis confirms that Trent has confirmed a bullish Inverse head and shoulders breakout, signalling a continuation of its upward trend. The breakout is supported by a decisive move above the 200-week SMA, indicating improving long-term strength, while the stock has witnessed a major structural breakout backed by a sharp rise in trading volumes, reflecting strong buying interest. Momentum indicators remain firmly positive with the weekly RSI above 50 and the daily RSI above 70, suggesting sustained bullish momentum.
Jigar Shantilal Patel tracked strength in the automotive counter and recommended a buy on Eicher Motors for a target of ₹8,225, advising traders to maintain a stop loss at ₹7,250. As reported by NDTV Profit, this recommendation capitalizes on the positive momentum in the automotive sector and Eicher Motors' specific growth potential. The latest Anand Rathi analysis reveals that Eicher Motors has witnessed a classic price structure breakout backed by strong volumes, indicating renewed buying interest and strengthening bullish momentum. The stock has also broken above a flat Ichimoku Cloud resistance, reinforcing the positive trend outlook, while momentum indicators remain supportive with the RSI holding above 50 and the MACD sustaining above the zero line, confirming improving strength across multiple time frames.
Jigar Shantilal Patel pointed to traction in PSU banking stocks and recommended a buy on Union Bank of India with a target of ₹188, advising traders for a stop loss of ₹165. According to NDTV Profit, this recommendation reflects the positive outlook for public sector banking stocks and Union Bank's specific growth prospects. The technical setup suggests continued strength in the PSU banking segment.
Deven Mehata observed favorable setup in the pharmaceutical space and recommended a buy on Mankind Pharma for a target of ₹2,630, advising traders to maintain a stop loss at ₹2,330. As reported by NDTV Profit, this recommendation targets the pharmaceutical sector's potential for continued growth. The technical analysis suggests favorable momentum for the pharmaceutical player in the near term.
