Stock Market Recommendations for April 16, 2025

According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, here are the top stocks to consider today.

SAREGAMA LTD: A Strong Buy

Buy in ₹533–527 Range | Stop Loss: ₹498 | Target: ₹590

Saregama has shown consistent strength by sustaining above its 200 DEMA. A breakout from its consolidation range and the formation of an inverse head and shoulder pattern signal a bullish reversal. Traders are advised to buy within the specified range for potential gains.

JIOFIN: Beginning of an Uptrend

Buy in ₹236–230 Range | Stop Loss: ₹223 | Target: ₹253

Jio Financial Services breaks out after months of consolidation, with a double bottom formation at ₹203 indicating a strong reversal. Positive indicators like RSI breakout and ADX crossover support a bullish outlook.

POWER GRID: Time to Sell

Sell Futures below ₹304 | Stop Loss: ₹310 | Target: ₹292

Power Grid shows signs of exhaustion after a significant rally. Resistance near the 200 DEMA and negative RSI divergence suggest it's time for profit booking.

Disclaimer: The opinions and recommendations are from the brokerage and not The Times of India. Consult a financial advisor before making investment decisions.