Tata Motors, SRF, and Bajaj Finance: Stocks to Buy Today
In a bullish turn for the market, Tata Motors, SRF, and Bajaj Finance have emerged as top stock picks for investors looking to enhance their portfolios. Recent analyses suggest that these stocks are on the brink of significant movements, supported by technical indicators and current market conditions.
Tata Motors: A Breakout Opportunity
Tata Motors, currently trading at ₹682, is generating interest after a breakout from its recent consolidation phase. According to market analysts, the stock has faced a prolonged period of underperformance. However, increasing trading volumes alongside the recent price uptrend signal a resurgence of buying interest. As a result, experts suggest a target (TGT) price of ₹713, with a stop-loss (SL) set at ₹661. Investors are advised to consider this stock for potential short-term gains.
SRF: Signs of Consolidation Breakout
SRF is also drawing attention due to its nearing consolidation breakout. The stock is currently priced at ₹3,050, with a target price set at ₹3,250, and a stop-loss of ₹2,950. Market analysts highlight that the price increase is supported by strong trading volumes, and the 50-day exponential moving average (DEMA) has provided significant support during recent pulls back. This indicates consistent buying interest, positioning SRF as a solid option for investors.
Bajaj Finance: In an Uptrend
Bajaj Finance remains in a favorable position, trading at ₹8,986, with an anticipated target of ₹9,400. The stock has been establishing a ‘higher top, higher bottom’ pattern, depicting a clear uptrend. A recent pullback established a ‘Bullish Engulfing’ pattern near its 50 DEMA support, suggesting the potential for the stock to resume its upward trajectory. Investors looking for a resilient financial stock might find Bajaj Finance to be a compelling choice, with a stop-loss set at ₹8,710. #### Conclusion
The current market conditions reflect strong buying sentiments for Tata Motors, SRF, and Bajaj Finance. With strategic entry and exit points outlined by market analysts, investors may consider these stocks for inclusion in their portfolios. It’s essential for investors to conduct their own research or consult with a financial advisor before making investment decisions.
Disclaimer: The opinions and recommendations are based on views expressed by Ruchit Jain, head of equity technical research at Motilal Oswal Financial Services Ltd. Individual investors should consider their own financial circumstances before investing.
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