SAIL has seen a fresh upside amid robust volumes in the short term. The stock, after clocking a fresh 52-week high, is headed towards Rs 120 to Rs 135 levels.
If Jio Financial is included, the stock could see $66 million in passive inflows. IRFC ($15 million inflows), PFC ($45 million inflows), Polycab India ($20 million inflows, Adani Power ($33 million inflows) are other likely Nifty Next 50 entrants.
RBL Bank has recently experienced a robust breakout from the consolidation zone between Rs 258-210, accompanied by a strong bullish candle, indicating a continuation of medium term uptrend.
Top stock picks: Indian equity benchmarks extended their upward run for the third consecutive session today, led by gains in consumer and state-owned lenders. Broader market (small- and mid-cap shares) were up too as Nifty Midcap 100 rose 0.21 per cent and small-cap climbed 0.58 per cent.
Bharat Heavy Electricals Ltd, Punjab National Bank Ltd, Oberoi Realty and Jindal Stainless Ltd would be required to broadly maintain their prevailing price levels to enter MSCI Global Standard Index in the February review.
On the daily chart of SJVN, we are observing a higher high formation, which is a sign of strength. Further, momentum indicator viz. MACD is positively poised.
CLSA downgraded Bajaj Auto to 'Underperform' but revised its target price on the stock upward to Rs 6,382 against Rs 5,670 earlier. It lowered its target price on Eicher Motors to Rs 4,129 from Rs 4,252.
In the case of ONGC, the stock traded at a PE of 4.5 times against a 10-year average of 8 times. At Tuesday's close, the scrip needed a 56 per cent rally to revisit its all-time high of Rs 314.67 hit in June 2014.
TCS is consolidating sideways on the hourly time frame, and is forming a potential Cup and Handle formation on the daily chart. A recent rebound from the 100 SMA level suggests a continued bullish momentum.
Top stock picks for today: "The ongoing rally in domestic stocks may continue. Support for benchmark Nifty could be seen in the 20,400-20,500 zone. Till the mentioned support levels hold, one can expect a higher target of 21,000 for the index," Akshay Bhagwat told Business Today TV.
Top stock picks for today: From the defence space, the market expert suggested Bharat Dynamics Ltd. "Support on thec ounter could be seen at Rs 1,150. One can expect Rs 1,450-1,500 levels in the coming days," Chaturmohta stated.
Top stock picks for today: "Tata Power expects its revenue and EBITDA to be doubled by FY27. I think it will be more than double. If a company can double in 4 years, then its 20 per cent CAGR (Compounded annual growth rate). If it is doing the same in 3 years, then it is 25 per cent CAGR," Prabhakar told BT TV.
ICICI Bank is now showing signs of a revival after undergoing through a shallow correction in July, where the prices declined from the high of Rs 1,008 to all the way down to Rs 899.
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