Top 3 Stock Picks for Short-Term Gains: Choice Broking Recommends Jindal Steel, Samvardhana Motherson, and HAL
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Despite ongoing market volatility, retail and institutional investors can find structured short-term trading opportunities driven by technical breakouts. Sachin Gupta, Vice President of Research at Choice Broking, has recommended three high-conviction stocks showing strong technical setups on their daily charts: Jindal Steel & Power, Samvardhana Motherson International, and Hindustan Aeronautics Limited (HAL).
Below is an in-depth review of each stock's technical setup, target prices, and risk mitigation levels.
Short-Term Stock Recommendations & Key Technical Levels
| Stock Name | CMP (As of July 27) | Recommended Buy Price | Target Price | Stop Loss | Technical Trigger |
|---|---|---|---|---|---|
| Jindal Steel | ₹1,066.00 (+2.92%) | ~₹1,065 | ₹1,140 | ₹1,030 | Closed above 20-day EMA; rising OBV |
| Samvardhana Motherson | ₹149.29 (+2.57%) | ~₹149 | ₹158 | ₹143 | Higher highs/lows pattern; RSI at 61.36 |
| HAL | ₹4,618.00 (+0.98%) | ~₹4,619 | ₹4,860 | ₹4,500 | Ascending Triangle breakout above ₹4,535 |
Detailed Stock Breakdown & Technical Analysis
1. Jindal Steel & Power Ltd.
After consolidating in a narrow range over several trading sessions, Jindal Steel has shown clear initial signs of a bullish rally.
Key Indicators: The stock closed comfortably above its 20-day Exponential Moving Average (EMA), signalling robust short-term strength.
Volume Confirmation: The On Balance Volume (OBV) indicator continues to tick higher, pointing to sustained accumulation by buyers at current levels.
Actionable Plan: Choice Broking maintains a Buy rating around ₹1,065 with a target of ₹1,140 and a strict stop loss at ₹1,030.
2. Samvardhana Motherson International Ltd.
Auto-ancillary major Samvardhana Motherson exhibits strong bullish momentum on its daily charts, consistently recording a pattern of higher highs and higher lows.
Key Indicators: Following a period of brief consolidation between ₹141 and ₹146, the stock resumed its uptrend while trading well above its long-term moving averages.
Momentum Strength: The Relative Strength Index (RSI) sits at 61.36, safely above the neutral 50 line to signal accelerating bullish momentum backed by volume growth.
Actionable Plan: Choice Broking recommends a Buy at ₹149 with a target price of ₹158 and a stop loss set at ₹143.
3. Hindustan Aeronautics Limited (HAL)
Defence major HAL has created a powerful bullish setup after decisively breaching a critical horizontal resistance zone at ₹4,535.
Key Indicators: The stock confirmed a clean breakout from an Ascending Triangle pattern on the daily chart, supported by a continuous trend of higher highs and higher lows.
Growth Outlook: The structural breakout in this premier defence stock reinforces significant potential for further short-term price discovery.
Actionable Plan: Choice Broking advises a Buy at ₹4,619 with an upside target of ₹4,860 and a stop loss at ₹4,500.
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