Top Stock Recommendations for January 8, 2025

According to Mehul Kothari, DVP - Technical Research at Anand Rathi Shares and Stock Brokers, NMDC, Aavas Financiers, and Waaree Energies are the top stock picks for today. Here's why these stocks are catching the eyes of investors and traders alike.

NMDC: A Potential Bounce Back

Buy above Rs 66.50; Stop Loss: Rs 63.50; Target: Rs 72
The stock appears oversold on the daily scale, having corrected from the Rs 82 mark to Rs 64. A positive divergence on the daily RSI and a turn from the lower end of the falling channel suggest a potential bounce. Traders are advised to go long above Rs 66.50 for an upside target of Rs 72.

Aavas Financiers: Resilience in Volatility

Buy above Rs 1,710; Stop Loss: Rs 1,670; Target: Rs 1,800
Despite recent market volatility, Aavas Financiers Ltd. has shown resilience, trading within the Rs 1,700-1,670 range and consolidating around the 200 DEMA. A slight market improvement could trigger a strong breakout. A buy recommendation is suggested above Rs 1,710, with a stop-loss at Rs 1,670 and a target of Rs 1,800.

Waaree Energies: A Newcomer with Potential

Buy near Rs 2,750; Stop Loss: Rs 2,500; Target Rs 3,200
Waaree Energies Ltd., a newly listed stock, has retraced approximately 78.6% of its initial rally after touching levels above Rs 3,700. Currently trading in the Rs 2,770–Rs 2,700 range, with a strong support at the previous swing low around Rs 2,500, it presents a buying opportunity with a stop-loss at Rs 2,500 and a target of Rs 3,200 over a 6–12 month timeframe.

Disclaimer: The opinions, analyses, and recommendations expressed herein are those of the 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.