Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, Castrol India, Butterfly Gandhimathi, and GM Breweries are the top stock picks for today:
Castrol India: BUY Near ₹205 | Stop Loss: ₹185 | Target: ₹245
The stock has formed a top around ₹240 and retraced to ₹200, which is supported by the 200-DEMA, signaling a strong base. The stock has significantly outperformed the broader market over the past three months, and this retracement suggests a healthy correction, with the bullish trend remaining intact.
Additionally, the dip provides a good buying opportunity, with potential upside towards ₹245 in the coming months.
Thus, traders are advised to buy Castrol near ₹205, with a stop-loss at ₹185 on a closing basis, targeting ₹245 over the next 6-9 months.
Butterfly Gandhimathi: BUY Near ₹620 | Stop Loss: ₹560 | Target: ₹720
The stock has shown a bullish cup and handle formation breakout in today’s session, indicating a potential trend reversal. The confirmation of a higher top, higher bottom formation suggests a change of trend.
Price action, coupled with strong volumes, reinforces the potential for a good pullback, with the stock targeting ₹720 in the next 3-6 months.
Thus, traders are advised to buy Butterfly Gandhimathi near ₹620, with a stop-loss at ₹560 on a closing basis, targeting ₹720 over the next 3-6 months.
GM Breweries: BUY Near ₹630 | Stop Loss: ₹600 | Target: ₹690
The stock has shown a positive divergence on the weekly RSI, indicating potential upside momentum. A double bottom formation around ₹600 further confirms the bullish setup, suggesting the stock is a candidate for a bounce.
Thus, traders are advised to buy GM Breweries near ₹630, with a stop-loss at ₹600 on a closing basis, targeting ₹690 over the next 1-2 months.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
