By Disha Gupta
Stock market guidance: Mehul Kothari of Anand Rathi Shares advises purchasing Hindalco, GMR Airports, and Force Motors. Hindalco has a significant uptrend; GMR Airports has proximity to a prior breakout zone with a possible retreat; and Force Motors exhibits high relative strength and a breakout. Every stock has a set of targets.
The best stocks to buy today, according to Mehul Kothari, DVP of Technical Research, are Hindalco, Force Motors, Anand Rathi Shares & Stock Brokers, and GMR Airports:
The stock has been steady without experiencing any significant decreases, showing an unusual high relative strength. Today, there was a definite breakout, which was confirmed by the daily RSI and price activity. The ADX is also rising, which suggests that the trend momentum continues to grow stronger.
For the next two to three months, traders are therefore advised to purchase FORCEMOT between £7100 and £77200, with a stop-loss at $6625 on a closing basis, with an upside target between 8000 and 8200.
GRAIRPORT was trading above 100 in August 2024 before correcting toward £70. The stock is currently close to the 65-768 area that was its previous breakthrough, which could attract buying activity. Multiple bottoms near £68 suggest a potential pullback, suggesting that a breakout is in progress.
For the upcoming one to three months, traders are therefore encouraged to invest in GMRAIRPORT between $70 and 272, with a stop-loss at $66 on a closing basis, with an upside target of 781 and 782.
With an 18% recovery from the $560 low, HINDALCO has had a phenomenal February. But the stock saw an adequate 6% fall from $656 last week. Indicating a potential continuation of the upward trend, HINDALCO has closed above its prior breakout zone and formed a hammer-shaped candlestick which aligns with the R1 monthly pivot.
For a price goal of €680, traders are therefore urged to invest in HINDALCO between $633 and $637, with a stop-loss at $608 on a closing basis.