Stock Market Recommendations for January 21, 2025

According to Somil Mehta, Head - Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, JSW Steel and Divi’s Laboratories are the top stock picks for today. Here's a detailed analysis of why these stocks are poised for growth.

JSW Steel – A Strong Buy

Buy in the range between Rs 920 and Rs 930, with a stop loss at Rs 880 and a target of Rs 1,000. JSW Steel has shown a positive weekly close from the lower end of the channel, indicating a bullish trend. The momentum indicator has also signaled a fresh positive crossover below the zero line, suggesting potential upward movement. After correcting from its peak, the stock is now testing crucial support levels, with resistance expected at the 20 weekly moving average.

Divi’s Laboratories – Consolidating for Growth

Buy in the range between Rs 5,990 and Rs 6,020, with a stop loss at Rs 5,835 and a target of Rs 6,400. Divi’s Laboratories has been consolidating since October 2024 and has recently found support from the lower end of its consolidation range and the 20 Weekly moving average. The formation of higher tops and bottoms on the weekly charts is a positive indicator for future growth. The momentum indicator's positive crossover on the daily charts further supports this outlook, with resistance anticipated at the previous swing high.

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.