Mehul Kothari, DVP - Technical Research at Anand Rathi Shares, has released stock recommendations for June 10, 2026, highlighting three stocks: Bank of India, Hindustan Zinc, and Union Bank of India. These picks are based on technical analysis of price patterns, momentum indicators, and support-resistance levels, according to the report from Business Today.
Bank of India: Consolidation Breakout with Improving Momentum
Kothari recommends buying Bank of India in the range of ₹145–₹140, with a stop loss at ₹135 and a target price of ₹157.50. The stock has been consolidating within a narrowing range after a healthy correction from recent highs, and is now positioned near a crucial support zone showing signs of a bullish continuation pattern. It continues to trade above its 200-day exponential moving average (DEMA), indicating the broader trend remains intact. Momentum indicators are improving, with the RSI moving above the 50 mark signaling strengthening buying interest. A sustained move above the immediate resistance zone could trigger the next leg of the upmove towards ₹157.50.
Hindustan Zinc: Oversold Rebound from Major Support Zone
For Hindustan Zinc, Kothari suggests buying in the ₹565–₹545 range, with a stop loss at ₹514 and a target of ₹640. The stock has corrected sharply from recent highs and is approaching a strong confluence support zone between ₹565 and ₹545. It is trading near the lower boundary of its long-term rising channel, a level that has historically attracted buying interest. Despite the recent decline, the broader long-term trend remains positive as the stock continues to hold above its 200-day moving average. The RSI has entered oversold territory, indicating that selling pressure may be nearing exhaustion. A rebound from the current support zone could drive the stock towards ₹640 over the next few months.
Union Bank of India: Base Formation Near Key Support
Kothari recommends buying Union Bank of India in the ₹170–₹164 range, with a stop loss at ₹160 and a target of ₹185. The stock has undergone a healthy correction from recent highs and is consolidating near an important support zone around ₹164–₹170. It has managed to hold above its long-term moving averages, keeping the broader bullish structure intact. The ongoing consolidation appears to be a base-building phase within the larger uptrend. Momentum is gradually improving, with the RSI moving above the 50 mark indicating renewed buying interest. A breakout above the immediate resistance zone could attract fresh participation and pave the way for an advance towards ₹185.
The table below summarizes the key levels for each recommendation:
| Stock | Buy Range (₹) | Stop Loss (₹) | Target (₹) |
|---|---|---|---|
| Bank of India | 145–140 | 135 | 157.50 |
| Hindustan Zinc | 565–545 | 514 | 640 |
| Union Bank of India | 170–164 | 160 | 185 |
Disclaimer: The recommendations and views on the stock market, other asset classes, or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.
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