Seven stocks to buy and sell today—6 February
Source: Live Mint
Two stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
• Ester Industries Ltd: Buy above ₹169 | Target ₹185 | Stop loss ₹162
This counter, after testing the value support region around ₹136-138 levels in the last few weeks, has shown an inclination to resume the upward bounce. A long body candle close on the last two trading sessions highlights continued positive sentiment. As the momentum is seen rising above important RSI zones, consider going long.
• Biocon Ltd: Buy above ₹391 | Target ₹425 | Stop ₹375
There is once again a strong case of bullishness seen in pharma stocks, and the revival this time around in this stock seems more robust. The strong surge in volumes combined with the push from the support regions augurs well for the prices. The positive ‘directional index’ is seen rising and pushing the prices above the clouds. With a long-body candle firmly in place, we can look to initiate longs.
Stocks recommended by MarketSmith India:
CreditAccess Grameen Ltd: Current market price ₹1,067.7 | Buy range ₹1,040–1,075 | Profit goal ₹1,260 | Stop loss ₹977 | Timeframe 2–3 months
Force Motors Ltd: Current market price ₹6,782.30 | Buy range ₹6,550– 6,800 | Profit goal ₹8,200 | Stop loss ₹6,200| Timeframe 2–3 months
Three stocks to buy, recommended by Ankush Bajaj:
Lupin Ltd: Buy at ₹2,185 | Target ₹2,220-2,235 | Stop loss ₹2,173
The stock is consistently closing above ₹2170 with strong volume, indicating bullish strength. On the 15-minute chart, it is forming a flag pattern, a continuation signal. If the pattern breaks out, the potential upside target is ₹2,230+.
Bharat Petroleum Corp. Ltd: Buy at ₹261 | Target ₹278-282 | Stop loss ₹252
Although the stock is in a downtrend, recent price action shows a breakout from a falling wedge pattern, indicating a potential reversal. A pullback towards ₹280 is expected if the breakout sustains.
IndusInd Bank Ltd: Buy at ₹1,061 | Target ₹1,115-1,128 | Stop loss ₹1,025.
The stock has rebounded strongly after taking multiple supports at ₹940, indicating a strong demand zone. This bounce suggests bullish momentum, with a potential upside target above ₹1,120 if the momentum sustains.
About the analysts: Ankush Bajaj is a Sebi-registered research analyst (registration number INH000010441). Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
