Jay Thakkar, a renowned technical analyst, has delivered two standout stock selections for September 4. Thakkar has his eyes set on Hindalco Industries and Tech Mahindra today.

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The metal sector has been generating a significant buzz in recent trading sessions, and Hindalco Industries stands out as a shining star within this sector. Trading in the range of Rs 488-489, Hindalco has been catching the attention of traders and investors alike due to its strong build-up.

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Thakkar believes that Hindalco Industries is poised for a short-term surge, with a target price of Rs 510. To mitigate risks, he advises placing a stop loss at Rs 476.

This recommendation comes on the back of the stock's impressive performance, with gains exceeding 7 percent in the last month.

While the IT sector as a whole has been underperforming, Tech Mahindra has managed to hold its ground within a crucial support range of Rs 1,175 to 1,200. Currently trading in the range of Rs 1,241-1,242, Tech Mahindra is showing resilience and potential for growth.

Thakkar's outlook for Tech Mahindra is optimistic, with short-term targets set at Rs 1,280 and subsequently Rs 1,310. To safeguard investments, he recommends placing a stop loss below Rs 1,220.

This bullish sentiment is supported by the stock's recent performance, having gained more than 6 percent in the past month.

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First Published:Sept 4, 2023 12:03 PM IST