Top stock recommendations for January 22, 2025 – The Times of India
Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, MedPlus Health Services, CCL Products, and IRCTC are the top stock picks for today:
MEDPLUS: Buy above Rs 770 | Stop Loss: Rs 750 | Target: Rs 810
The stock recently corrected from a peak of ₹880 and slipped below the ₹760 mark, retracing 50% of its previous rally. Currently, it is showing signs of a potential reversal with the formation of a bullish candlestick pattern. A breakout above ₹770 could trigger a decent pullback rally. Traders are advised to initiate long positions above ₹770, aiming for a target of ₹810, while keeping a stop-loss at ₹750.
CCL PRODUCTS: Buy above Rs 645 | Stop Loss: Rs 620 | Target: Rs 695
After declining from a high of ₹844, the stock has reached the ₹600 zone, entering an oversold territory on both intraday and daily timeframes. This range (₹600-₹620) has acted as a strong demand zone during previous rallies. A breakout above ₹645 signals potential for a rebound. Traders are advised to go long above ₹645, with an upside target of ₹695 and a stop-loss placed at ₹620.
IRCTC: Buy between Rs 780-785 | Stop Loss: Rs 745 | Target: Rs 860
On January 14, 2025, IRCTC formed a bullish harami pattern near a critical historical support level from September 2023, indicating a potential trend reversal. This was followed by a 7% rally, supported by a bullish RSI divergence, further affirming a shift in momentum. These factors strengthen the bullish outlook for the stock. Traders can initiate long positions in the ₹780-785 zone, targeting an upside of ₹860, with a stop-loss at ₹745.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
