Technical analysts Mitessh Thakkar of earningwaves.com and Shrikant Chouhan of Kotak Securities, Chandan Taparia, Motilal Oswal Financial Svcs share their top stock picks for the day.

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For Mitessh

Thakkar

Mitessh Thakkar's first buy call of the day is on Gujarat Narmada Valley Fertlzrs&Chms (GNFC). He recommends this with a stop loss below Rs 609 for an upside target of Rs 650. Shares have gained more than 14 percent in the last month.

He recommends a buy call on NTPC with a stop loss of Rs 177 for an upside target Rs 186. The stock is up 1.99 percent over the last month.

Larsen & Toubro (L&T) after a good rally gave a breakdown gap so could see more profit booking. Thakkar recommends to sell with a stop at Rs 2,265 for targets of Rs 2,190. The stock has declined more than 1.94 percent in the last month.

Lastly, he has a sell call on NMDC. His recommendation comes with a target of Rs 104 and a stop loss of Rs 110. The stock has declined more than 4.55 percent in the last month.

For Shrikant Chouhan

Shrikant Chouhan’s first buy call of the day is on Axis Bank. After a very long time the stock is managing to sustain above the mark of Rs 890. It is forming some rounding bottom sort of formation if we see the daily charts which is indicating that the stock is heading for at least Rs 950-960 in the near term. In one or two days of time we may see the levels of Rs 920-925. Shares have gained more than 5.19 percent in the last month.

Gujarat State Fertilizers & Chemicls (GSFC) is also a buy recommendation for Chouhan. The stock is currently trading around Rs 175-176 and is expected to move around Rs 185-190 sort of levels. He recommends to buy with a stop loss of Rs 170. The stock is up 38.17 percent over the last month.

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For Chandan Taparia

Chandan Taparia has a buy call on Hindustan Aeronautics (HAL). Major trend is positive, recent consolidation of five days is providing fresh leg of rally. He recommends to buy with a stop loss of Rs 2,960 and target of Rs 3,150. The stock is up 6.83 percent over the last month.

UltraTech Cement is the second buy call. Most of the cement stocks are in focus making higher tops and higher bottom. Major trend is positive and momentum is picking up with long position. So recommending to buy this stock with a stop loss of Rs 7,700 and expect the stock to heads towards Rs 8,200 levels. Shares have gained more than 1.98 percent in the last month.

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First Published:May 12, 2023 9:18 AM IST