Top Stock Market Picks for Today: BHEL, AstraZeneca Pharma & Maruti Suzuki

Mehul Kothari from Anand Rathi Shares and Stock Brokers recommends BHEL, AstraZeneca Pharma, and Maruti Suzuki as top stock picks.

1. BHEL (Buy Near ₹200, Target ₹250, Stop Loss ₹175) – The stock has broken out of an inverse Head and Shoulders pattern, signaling an uptrend with strong RSI momentum.
2. AstraZeneca Pharma (Buy Near ₹7,900, Target ₹8,500, Stop Loss ₹7,600) – Holding near its all-time high and nearing a fresh breakout, supported by a strong RSI trendline.
3. Maruti Suzuki (Buy Near ₹11,700, Target ₹12,300, Stop Loss ₹11,400) – Retesting its previous breakout level, offering a good risk-reward setup for a short-term bounce.

Top Stock Market Picks for Today: BHEL, AstraZeneca Pharma & Maruti Suzuki

Mehul Kothari, Deputy Vice President of Technical Research at Anand Rathi Shares and Stock Brokers, has highlighted three stocks with strong potential for traders today: BHEL, AstraZeneca Pharma, and Maruti Suzuki India. Here’s a simplified breakdown of his analysis and recommendations:

1. BHEL (Bharat Heavy Electricals Limited)

• Buy Near: ₹200
• Stop Loss: ₹175
• Target: ₹250

BHEL has recently broken out of an inverse Head and Shoulders pattern, a technical indicator that often signals a potential upward trend. The daily and weekly Relative Strength Index (RSI) is showing positive momentum, suggesting further price gains. Analysts predict the stock may climb toward its 200-day moving average, around ₹250.

Recommendation:

• Consider buying within the ₹195–₹205 range.
• To manage risk, set a stop-loss at ₹175 (on a closing basis).
• The target price is ₹250, which could be reached in the coming months.

2. AstraZeneca Pharma

• Buy Near: ₹7,900
• Stop Loss: ₹7,600
• Target: ₹8,500

Despite recent market corrections, AstraZeneca Pharma has remained strong, trading near its all-time high, reflecting strong investor confidence. The stock is also approaching a fresh breakout, backed by a positive RSI trendline breakout, signaling further upside potential.

Recommendation:

• Consider buying within the ₹7,850–₹7,950 range.
• Set a stop-loss at ₹7,600 (on a closing basis).
• The target price is ₹8,500, expected to be achieved in the coming months.

3. Maruti Suzuki India

• Buy Near: ₹11,700
• Stop Loss: ₹11,400
• Target: ₹12,300

Earlier this year, Maruti Suzuki surged past ₹11,500, reaching a high of ₹13,500. However, it has since pulled back to its breakout level, presenting an opportunity for a short-term rebound. This setup offers an attractive risk-reward ratio for traders.

Recommendation:

• Consider buying within the ₹11,600–₹11,800 range.
• Set a stop-loss at ₹11,400 (on a closing basis).
• The target price is ₹12,300, expected in the next few weeks.

Key Takeaways:

• These recommendations are based on technical analysis by experts at Anand Rathi Shares and Stock Brokers.
• Stock market investments carry inherent risks—always do your own research or consult a financial advisor before making any decisions.
• Setting stop-loss levels is crucial to minimize losses if the market moves against your position.

Final Thoughts

BHEL, AstraZeneca Pharma, and Maruti Suzuki India show strong growth potential based on technical indicators and market trends. However, trading involves risks, so investors should approach it with caution and proper planning.Factors such as market volatility, global economic conditions, and company fundamentals should also be considered before making investment decisions. Diversifying a portfolio and setting realistic profit targets can help manage risk effectively. Consulting with a financial expert or conducting thorough research can further enhance investment strategies. While these stocks present promising opportunities, maintaining discipline and adhering to a risk management plan is essential for long-term success.