Anand Rathi Analyst Recommends Tata Steel, Jai Corp, and Vadilal Industries as Top Stocks to Buy

Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi Shares and Stock Brokers, has recommended three stocks for investors to consider buying: Tata Steel, Jai Corp, and Vadilal Industries.

For **Tata Steel**, the recommendation is based on a strong breakout above its previous all-time high, suggesting a continuation of its long-term uptrend after a period of consolidation. The stock is trading above the Ichimoku cloud, with its conversion and base lines moving upwards, and all key Exponential Moving Averages (EMAs) are positively aligned. The analyst suggests buying near ₹181–₹175 with a stop loss at ₹166 and a target of ₹200.

**Jai Corp** shows a potential bullish pattern resembling a cup-and-handle formation on its daily chart. It has recently broken out after consolidating above its 200-Day Exponential Moving Average (200-DEMA), indicating renewed buying interest and a possible trend reversal. The suggested buy range is ₹170, with a stop loss at ₹160 and a target of ₹190.

**Vadilal Industries** is recommended for its trend reversal from a rising trendline, which has acted as support since March. The stock has crossed above the Ichimoku cloud, showing upward momentum. Key EMAs are converging and sloping upwards, signaling early momentum. The buy range is ₹5,520–₹5,480, with a stop loss at ₹5,200 and a target of ₹6,100, with a 90-day time frame.

Impact: These recommendations could lead to increased buying interest and potential price appreciation in these specific stocks if investors follow the advice. This could positively impact their individual stock performance and potentially influence related sectors. Rating: 6/10

**Definitions:** **Ichimoku Cloud**: A comprehensive technical analysis indicator that displays support and resistance levels, momentum, and trend direction, providing a visual overview of market sentiment. **EMAs (Exponential Moving Averages)**: A type of moving average that gives more importance to recent price data, helping to identify current trends and potential reversals faster than simple moving averages. **200-DEMA (200-Day Exponential Moving Average)**: A key technical indicator representing the average stock price over the last 200 trading days, often used to gauge long-term trends and identify support or resistance levels. **Cup and Handle Formation**: A bullish continuation pattern observed in stock charts that looks like a cup and its handle, suggesting that an existing uptrend is likely to continue.