Technical analysts Kush Bohra, Founder, kushbohra.com and Shrikant Chouhan, Kotak Securities, share their top stock picks for the day.

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From Kush Bohra

Kush Bohra's first buy call of the day is on Bharat Forge. The stock has given a very clear breakout, although it came of the high point of the day, it closed above the 200-day moving average. He recommends this with a stop loss below Rs 810 for upside targets of Rs 830 and Rs 845. Shares of Bharat Forge have gained more than 5 percent in the last month.

He also recommends a buy call on Triveni Turbine with a stop loss of Rs 404 for an upside target Rs 421 and Rs 429. The stock is up more than 7 percent in the past month

From Shrikant Chouhan

According to Chouhan State Bank of India (SBI) looks weak, the stock is around Rs 588 and it can fall to the levels of Rs 570-565 where the stock has spent a lot of time. So it's a short at current levels, with a stop loss at Rs 598. The shares of State Bank of India are flat in the past month.

Chouhan finds buying opportunity in Praj Industries, which is currently trading around some Rs 390-395 and the formation is suggesting us that it is heading for the levels of Rs 420-425. He recommends Praj Industries at current levels around Rs 395 with a stop loss around Rs 385. The stock is up more than 9 percent in the last month.

He also has a buy call on Sobha which is currently trading at around Rs 535-536. He advises to keep a stop loss at around Rs 530 and expect Rs 560-565 on the higher side. Shares have gained more than 12 percent in the last month.

In the cement space, India Cements is Chouhan’s pick. He recommends to buy the stock with a target of Rs 240-245 and keep a stop loss of Rs 210. The stock is up more than 17 percent in the past month.

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First Published:Jun 9, 2023 9:26 AM IST