Investors seeking actionable technical picks for today's session can consider four stocks recommended by Somil Mehta, Head of Retail Research at Mirae Asset Sharekhan. The picks — Mankind Pharma, Bajaj Auto, UNO Minda, and Jubilant FoodWorks — are identified based on bullish chart patterns, key moving average crossovers, and momentum strength, according to Mehta.
Mankind Pharma: Triangle Breakout Play
Mehta recommends buying Mankind Pharma in the range of Rs 2,541–Rs 2,542, with a stop loss at Rs 2,450 and a target of Rs 2,650. On the weekly timeframe, the stock is forming higher tops and higher bottoms above the 20-week exponential moving average (EMA). The daily chart shows a triangle pattern, and buyers have consistently defended lower price levels, indicating an upside breakout. The momentum indicator has given a positive crossover, signalling strength. Key resistance is at Rs 2,600, with key support at Rs 2,475.
Bajaj Auto: Demand Zone Rebound
Bajaj Auto should be bought in the range of Rs 10,036–Rs 10,037, with a stop loss at Rs 9,600 and a target of Rs 10,500. According to Mehta, the weekly chart shows strong support from a key demand zone that aligns with the 20-week EMA. Buyers are active at this support. On the daily chart, the stock has staged a small-range breakout by taking support of the 40-day EMA. The momentum indicator is showing a positive crossover above the zero line, indicating strong bullish strength. Key resistance is at Rs 10,250, while major support is at Rs 9,750.
UNO Minda: Range Consolidation Breakout
UNO Minda is recommended for purchase in the range of Rs 1,138–Rs 1,139, with a stop loss at Rs 1,086 and a target of Rs 1,196. On the weekly chart, the stock has been in a broad range consolidation for the past two weeks and is sustaining above the 20-week EMA. The daily chart shows a breakout of the 200-day EMA, and Mehta expects the momentum to continue, driving a range breakout. Momentum indicators are positive, showing strength. Key resistance is at Rs 1,165, with support at Rs 1,100.
Jubilant FoodWorks: Breakout After Consolidation
Jubilant FoodWorks (ticker: JUBLFOOD) is recommended for purchase at the current market price, with a stop loss at Rs 426 and a target range of Rs 465–Rs 478. After consolidating within a narrow range for several weeks, the stock has given a strong breakout, indicating renewed buying interest. It closed decisively above its 40-day EMA, a positive technical signal. Momentum indicators on both daily and weekly charts are showing strength and remain in bullish territory. The breakout is supported by improving price action, suggesting that the recent correction may have ended, according to Mehta. Overall, the technical setup remains favourable, and the stock has the potential to move higher if it sustains above the breakout level.
Quick Reference Table
| Stock | Buy Range | Stop Loss | Target | Key Resistance | Key Support |
|---|---|---|---|---|---|
| Mankind Pharma | Rs 2,541–Rs 2,542 | Rs 2,450 | Rs 2,650 | Rs 2,600 | Rs 2,475 |
| Bajaj Auto | Rs 10,036–Rs 10,037 | Rs 9,600 | Rs 10,500 | Rs 10,250 | Rs 9,750 |
| UNO Minda | Rs 1,138–Rs 1,139 | Rs 1,086 | Rs 1,196 | Rs 1,165 | Rs 1,100 |
| Jubilant FoodWorks | CMP | Rs 426 | Rs 465–Rs 478 | — | — |
Note: Jubilant FoodWorks is recommended at current market price (CMP). These recommendations are based purely on technical analysis and reflect the views of the analyst. Investors should conduct their own due diligence before acting.
(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
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