Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, SJVN, IDBI Bank and Krsnaa Diagnostics are the top stocks to buy today:
SJVN: BUY in ₹100–₹96 Range | Stop Loss: ₹89 | Target: ₹118
SJVN has shown a strong breakout today with significant volume support, confirming a higher top and higher bottom structure on the daily chart.
The stock has also surpassed its March high, indicating renewed bullish momentum. On the weekly timeframe, a double bottom-like formation is visible, strengthening the reversal case. Momentum oscillators have given breakout signals, aligning with the price action.
Traders are advised to buy SJVN in the ₹100–₹96 range, keeping a stop-loss at ₹89 and targeting ₹118 in the near term.
IDBI BANK LTD: BUY in ₹86–₹84 Range | Stop Loss: ₹79 | Target: ₹95
IDBI Bank has witnessed a major range breakout today, notably closing above its 200-day SMA for the first time since October 2024.
This breakout, accompanied by rising volumes and strength in ADX (now above 20), suggests the beginning of a trending phase. The technical setup points towards sustained momentum, offering a good buying opportunity.
Traders are advised to buy IDBI in the ₹86–₹84 range, with a stop-loss at ₹79 and a target of ₹95.
KRSNAA DIAGNOSTIC: BUY in ₹800–₹790 Range | Stop Loss: ₹755 | Target: ₹890
Krsnaa Diagnostics is currently consolidating, forming a potential inverse head and shoulder pattern near its 200 DEMA.
The diagnostics sector is showing renewed traction, and this stock is on the verge of a breakout above the ₹820 level. A breakout here could trigger strong upside momentum supported by sectoral strength and technical pattern confirmation.
Traders are advised to buy Krsnaa Diagnostic in the ₹800–₹790 range, with a stop-loss at ₹755, aiming for a target of ₹890.
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.