Stock market expert Somil Mehta, Head of Alternate Research, Capital Market Strategy at Mirae Asset Sharekhan, has shared his recommendations for today:
Hindustan Zinc – SELL
- Sell Price Range: ₹420 – ₹415
- Stop Loss: ₹432
- Target Price: ₹390
Why Sell?
Hindustan Zinc’s chart pattern has broken on the downside, and the stock is now trading below its important 200-day moving average (₹453). Momentum indicators are also showing weakness. The stock has been moving in a wide range for the past week but has now dropped below its short-term average (₹432), signalling a possible continued fall.
- Resistance Levels: ₹427, ₹432
- Support Levels: ₹410, ₹390
Larsen & Toubro (L&T) – BUY
- Buy Price Range: ₹3,675 – ₹3,660
- Stop Loss: ₹3,580
- Target Price: ₹3,800
Why Buy?
L&T has broken out of a small consolidation pattern and looks ready to move higher. It has taken support at the 10-day moving average (₹3,610), and momentum indicators are turning positive. The uptrend could continue towards ₹3,730 and ₹3,800.
Read more: Stock Market Today: Nifty50 Dips Below 24,600; Sensex Falls Nearly 100 Points Amid Global Caution
- Resistance Levels: ₹3,686, ₹3,800
- Support Levels: ₹3,620, ₹3,580
Disclaimer:
These are expert opinions from a brokerage firm and not investment advice. Please consult a qualified financial advisor before making any investment decisions.
