Market analysts and brokerage firms have identified high-conviction trading ideas for the upcoming session, with a strong consensus emerging on the power sector alongside key picks in banking and finance.
Top recommendations include state-owned power giant NTPC Ltd., private lenders ICICI Bank and Axis Bank, and steel major JSW Steel.
NTPC
NTPC emerged as a consensus top pick with two analysts recommending a buy on the stock.
Nilesh Jain, Head of Technical & Derivatives Research at Centrum Broking, advised a long position with a target of Rs 375, placing a stop loss at Rs 350.
Ajit Mishra, SVP of Research at Religare Broking, also recommended buying at the current market price (CMP) of Rs 358.2. He set a target of Rs 370 with a stop loss at Rs 348.
ICICI Bank
Shrikant Chauhan, Senior Vice President at Kotak Securities, sees upside in private lender ICICI Bank. He recommended buying for targets of Rs 1,415 and Rs 1,440, advising traders to maintain a stop loss at Rs 1,350.
Bajaj Finance
Chauhan also identified value in the non-banking financial sector, placing a buy rating on Bajaj Finance. He set targets in the range of Rs 950 to Rs 965, with a stop loss at Rs 920.
Axis Bank
Ajit Mishra of Religare Broking recommended a buy on Axis Bank at Rs 1,364. He projected a target of Rs 1,470, advising a stop loss at Rs 1,300.
JSW Steel
Sachin Janardan Sarvade, AVP of Derivatives and Retail Research at IDBI Capital Markets, recommended buying JSW Steel in the range of Rs 1,230-1,240. He set a target price of Rs 1,330, with a stop loss placed at Rs 1,199.
