Expert Reveals 3 MUST-BUY Indian Stocks With HUGE Target Prices!

Mehul Kothari, DVP - Technical Research at Anand Rathi Shares and Stock Brokers, has pinpointed three stocks for investors: Steel Authority of India Limited (SAIL), Hindustan Zinc Limited, and Nippon Life India Asset Management Limited.

For SAIL, the recommendation is to buy near ₹145–₹141, with a stop loss of ₹133 and a target of ₹163 within 90 days. This is based on a trendline breakout and positive Exponential Moving Average (EMA) alignment, suggesting an uptrend. Technical indicators like RSI and ADX also signal strengthening momentum.

Hindustan Zinc Limited is advised for purchase between ₹485–₹480, with a stop loss at ₹460 and a target of ₹525 over 90 days. The stock is showing a reversal from the crucial 200-day Exponential Moving Average (DEMA) and has formed a bullish engulfing pattern, indicating potential upside after a recent dip. MACD divergence supports renewed buying interest.

Nippon Life India Asset Management Limited is recommended for buying near ₹895–₹885, with a stop loss at ₹850 and a target of ₹965 within 90 days. Technical analysis reveals a double bottom formation supported by the Ichimoku cloud, pointing to a strong base and likely trend reversal. MACD divergence also suggests easing selling pressure.

Impact: These recommendations can significantly influence investor sentiment and trading activity for these specific stocks, potentially driving their prices towards the stated targets, provided market conditions remain supportive.

Difficult terms: Trendline Breakout: When a stock's price breaks above a resistance line that has historically prevented it from rising, signalling a possible start of an uptrend. EMA Alignment: When a stock's price moves above key short-term and medium-term Exponential Moving Averages, indicating positive price momentum. 200-DEMA: The 200-day Exponential Moving Average is a widely watched technical indicator representing the average price over 200 days, often acting as a long-term support or resistance level. Bullish Engulfing Formation: A two-candlestick pattern where a large bullish candle completely engulfs the preceding bearish candle, suggesting a strong reversal from a downtrend to an uptrend. MACD: Moving Average Convergence Divergence, a momentum indicator. Bullish divergence on MACD suggests that downward price momentum is weakening. Double Bottom Formation: A chart pattern that looks like a 'W', indicating a potential reversal from a downtrend to an uptrend. Ichimoku Cloud: A comprehensive technical analysis indicator providing support, resistance, and trend direction signals. Support from the cloud indicates a strong buying zone. RSI: Relative Strength Index, a momentum oscillator measuring the speed and change of price movements. Turning upwards from 50 indicates increasing buying pressure. ADX: Average Directional Index measures trend strength. +DI crossing above –DI with a rising ADX confirms strengthening bullish momentum.

Impact Rating: 8/10