Market analysts and brokerage firms have identified several high-conviction trading ideas for the upcoming session. One of the top picks is HCL Technologies, with two analysts recommending a buy at the current market price. Chandan Taparia of Motilal Oswal Financial Services set a target of Rs 1,780 with a stop loss at Rs 1,668, while Raja Venkatraman of NeoTrader advised a buy with a target of Rs 1,740 and a stop loss at Rs 1,690.
In addition to HCL Technologies, analysts have also identified buying opportunities in the energy, metal, and financial sectors. Ajit Mishra of Religare Broking recommended buying ONGC at Rs 245.5 with a target price of Rs 258 and a stop loss at Rs 239. Chandan Taparia also sees upside in the metal sector, placing a buy rating on National Aluminium Company (NALCO) with a target of Rs 393 and a stop loss at Rs 357.
Raja Venkatraman of NeoTrader suggested a long position on Shriram Finance, advising buying at Rs 1,004 with a target of Rs 1,025 and a stop loss at Rs 988. On the other hand, Ajit Mishra of Religare Broking recommended a short position on CAMS, advising selling at the current price of Rs 679.8 with a target of Rs 640 and a stop loss at Rs 700.
Overall, the consensus among analysts is that the energy, metal, and financial sectors offer buying opportunities, while the financial services space presents a selling opportunity. Investors should carefully consider these recommendations and conduct their own research before making any investment decisions. The targets and stop losses set by the analysts provide a framework for managing risk and maximizing returns. As the market continues to evolve, it will be important to monitor these recommendations and adjust investment strategies accordingly.