Stock market recommendations : According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Apollo Hospitals, and Persistent are the top stocks to buy today :
Apollo Hospitals – Buy in the range between Rs 7,100 & Rs 7,110; Stop Loss: Rs 6,920; Target: Rs 7,545
Apollo Hospitals has broken out of a consolidation pattern on daily charts and expected to resume the uptrend. Momentum indicators have also given a positive crossover around the zero line.
The stock has been consolidating in a broad range since last month and has closed above 20 daily moving average i.e. 7045, resuming the up trend today. The stock is expected to continue the up trend till the previous swing high 7545. Key resistance is 7243 & 7545 and support is at 7000 and 6920.
Persistent – Buy in the range between Rs 6,010 & Rs 6,020; Stop Loss: Rs 5,840; Target: Rs 6,300