Ashok Leyland: The stock has started to recover with support found near key weekly moving averages following some correction in August. It has formed a higher top-higher bottom pattern on the daily chart and looks set to scale above key daily moving averages. Traders are recommended to buy at the current market price for a target of Rs 129-133 with a stop loss at Rs 117. (Analyst: Gaurav Ratnaparkhi, Sharekhan by BNP Paribas)
Hindalco: The stock is forming a higher high pattern. With global aluminium prices trading at all-time highs, Hindalco is likely to rise going forward. Traders may look at buying the stock for a target of Rs 495 with a stop loss at Rs 450. (Analyst: Shrikant Chouhan, Kotak Securities)
JB Chemicals & Pharma: After a difficult period in July and August, the stock has formed an inside bar on the weekly charts with strong volumes recently -- a sign that it may be on a revival path. Traders can look at Rs 1,722-1,740 as a potential entry point and aim for a target of Rs 2,040 with a stop loss below Rs 1,640 or Rs 1,570. (Analyst: Anand James, Geojit Financial Services)
Maruti Suzuki: The stock has seen a multi-week correction from the Rs 7,700 level but selling pressure got absorbed near Rs 6,600. From there, the stock has broken out from a falling channel on the upside, with the daily momentum is in line with the breakout, signalling Maruti Suzuki is poised for a significant upside. Traders can look to buy Maruti Suzuki shares at the current price for a target of Rs 7,140-7,375 with a stop loss at Rs 6,690. (Analyst: Gaurav Ratnaparkhi, Sharekhan by BNP Paribas)
Tech Mahindra: The stock looks set to break out of a consolidation pattern that has lasted a fortnight. Such a move could help the stock potentially aim for Rs 1,535-1,600 levels. Traders should prefer to keep the risk marker near the recent reaction low of Rs 1,406. Initiating a 'buy' in the range of Rs 1,453-1,440 is recommended for a target price of Rs 1,435-1,600 with a stop loss at Rs 1,400. (Analyst: Anand James, Geojit Financial Services)
Mindtree: The stock looks in a bullish trend on the weekly chart in tandem with the IT space. Mindtree has led the pack earlier, and can achieve even the 5,000 mark if the momentum continues. (Analyst: Ashis Biswas, CapitalVia Global Research)
Delta Corp: The stock has given a breakout from its consolidation range and is rising with noticeable volumes. The chart pattern and the positioning of oscillators are suggesting that the uptrend is likely to continue going forward. Traders can accumulate in the range of Rs 213-216 for a target of Rs 240 with a stop loss at Rs 204. (Analyst: Ajit Mishra, Religare Broking)
Prestige: The stock has taken out the resistance level of Rs 378 decisively in a sign that its bullish trend is likely to continue. (Analyst: Ashis Biswas, CapitalVia Global Research)
Godrej Consumer Products: The stock has taken out the Rs 1,035 level on a closing basis and is expected to approach Rs 1,340 in the short term. A close above Rs 1,370 may take the price to Rs 1,510 in the medium term. The stock is showing a strong recovery move from a reversal near the support zone. (Analyst: Ashis Biswas, CapitalVia Global Research)
JK Tyre: The stock appears to be in a bullish trend and eyeing the resistance level of Rs 166. Momentum indicator MACD is signalling that the trend may continue in the coming days. If JK Tyre breaks and sustains above the resistance level of Rs 166, it can go to as high as Rs 193 soon. (Analyst: Ashis Biswas, CapitalVia Global Research)