Five stocks to trade today—7 February

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● Sarda Energy & Minerals Ltd: Current market price ₹ 459.65 | Buy range ₹ 445-464 | Profit goal ₹ 570 | Stop loss ₹ 417 | Timeframe 2–3 Months

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:

• Hindustan Oil Exploration: Buy at current market price and dips to ₹206, stop ₹203, target ₹235

This oil refinery stock has been undergoing a lot of pain, and the last few days have witnessed some strong buying momentum, which was subject to some intense sell-off. The last few weeks have been spent in consolidation, and now, with volatility expanding to the upside, one should look at some potential rise ahead. Also, with the RBI policy coming up and the recent profit booking dragging the prices into ‘kumo’ support region, a rebound can be expected. As the Relative Strength Index (RSI) is now above 60, that clearly highlights that the bullish move seen on Thursday can continue.

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• Camlin Fine Sciences: Buy above ₹139, stop ₹132, target ₹152

This counter, after dipping into the ‘Kumo’ support region of around ₹120-125 levels in the last week, has some steady resolve on the way up. A long body candle close on the last two trading sessions highlights continued positive sentiment. With momentum showing the potential for further rise in store, one could consider going long.

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• South Indian Bank: Buy above ₹27, stop ₹25.25, target ₹30

Banking stocks are in demand ahead of the policy and the rise seen in the last session that highlights the possibility of more rise. The gradual resumption of upward momentum highlights more room at the top. The attempt to move beyond the consolidation zone clearly highlights a strong case of bullishness. Relative strength index (RSI) is seen rising and pushing the prices above recent consolidation. With a long body candle firmly in place, we can look to initiate longs.

About the analysts: Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.

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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.