JSW Steel – A Strong Buy Signal
JSW Steel and Divi’s Laboratories have emerged as the top stock picks for today, according to Somil Mehta, Head of Alternate Research at Mirae Asset Sharekhan Capital Market Strategy. JSW Steel, in particular, is showing promising signs for investors, with a recommended buy range between Rs 920 and Rs 930, a stop loss at Rs 880, and a target of Rs 1,000.
Positive Momentum for JSW Steel
JSW Steel has recently received support from the lower end of the channel and closed positively last week, indicating a potential uptrend. The stock’s momentum indicator has also displayed a fresh positive crossover below the zero line, suggesting further gains. Despite a recent correction, JSW Steel is now retesting a crucial support zone around 880 to 860 levels, with a key resistance at the 20-week moving average of 941.
Divi’s Laboratories – A Promising Buy Opportunity
On the other hand, Divi’s Laboratories is also presenting a lucrative opportunity for investors, with a recommended buy range between Rs 5,990 and Rs 6,020, a stop loss at Rs 5,835, and a target of Rs 6,400. The stock has been consolidating since October 2024 and has recently found support at the lower end of the consolidation range and the 20-week moving average of 5723. With higher tops and higher bottoms forming on the weekly charts and a positive crossover on the daily charts, Divi’s Laboratories is poised for potential growth, with a key resistance at the previous swing high of 6068.
Consult with Experts Before Investing
It is essential to note that the opinions, analyses, and recommendations expressed by brokerage firms do not necessarily reflect the views of The Times of India. Investors are advised to consult with qualified investment advisors or financial planners before making any investment decisions to ensure informed and prudent choices. Remember, investing in the stock market carries risks, and seeking professional guidance can help mitigate potential losses and maximize returns.
In conclusion, JSW Steel and Divi’s Laboratories are offering attractive opportunities for investors today, but it is crucial to approach stock trading with caution and expert advice. Keep a close eye on market trends, conduct thorough research, and seek guidance from financial professionals to navigate the complexities of the stock market successfully. Happy investing!
