Stock Market Recommendations for January 22, 2025

According to Mehul Kothari, DVP - Technical Research at Anand Rathi Shares and Stock Brokers, MedPlus Health Services, CCL Products, and IRCTC emerge as the top stock picks for today. Here's a detailed analysis of each recommendation:

MedPlus Health Services (MEDPLUS)

Buy above Rs 770 | Stop Loss: Rs 750 | Target: Rs 810

After a recent correction from a peak of ₹880, MedPlus Health Services slipped below the ₹760 mark, retracing 50% of its previous rally. The stock now shows signs of a potential reversal with a bullish candlestick pattern. A breakout above ₹770 could trigger a significant pullback rally. Investors are advised to initiate long positions above ₹770, aiming for a target of ₹810, with a stop-loss at ₹750.

CCL Products

Buy above Rs 645 | Stop Loss: Rs 620 | Target: Rs 695

CCL Products has declined from a high of ₹844, entering an oversold territory in the ₹600-₹620 zone, which has historically acted as a strong demand zone. A breakout above ₹645 signals a potential rebound. Traders should consider going long above ₹645, targeting an upside of ₹695, with a stop-loss placed at ₹620.

IRCTC

Buy between Rs 780-785 | Stop Loss: Rs 745 | Target: Rs 860

IRCTC formed a bullish harami pattern near a critical historical support level from September 2023 on January 14, 2025, indicating a potential trend reversal. This was followed by a 7% rally, supported by a bullish RSI divergence, affirming a shift in momentum. 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.