Recommended stocks to watch: Top 8 stock picks by market experts for 3 March

After undergoing some profit booking, prices have slipped into a strong set of supports that are indicating that the trends are looking to head higher once again. With the strong rise seen on Friday some demand is emerging at lower levels. As the trends look encouraging one can consider going long.

• ITD Cementation India: Buy above ₹540, stop ₹515, target ₹580-595

A long body formation seen on the charts has triggered an encouraging response. The moving average bands too are offering a steady demand that is triggering some opportunities for long. As trends have once again flashed a positive sign, one can look to buy.

• Shankara Building Products: Buy above ₹555, stop ₹535 target ₹595-615

A round pattern seen on the intraday charts beyond the gap region makes it a good candidate for some upside. The momentum has seen some pullback, so we can look to buy for some upside in the days ahead. The positive overhang is forcing us to consider a buy approach for the days ahead. A move above 555 augurs well for the prices. Now, poised at heading higher beyond the cluster highs one can consider going long.

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Three stocks to buy, as recommended by Ankush Bajaj:

– Shriram Finance: Buy at ₹617 | Target ₹645-660 | Stop loss ₹598

On the hourly chart, the stock has given a flag breakout. Additionally, if we draw an anchored volume weighted average price (AVWAP) from the recent top, the stock is trading above that level. Relative strength index (RSI) is also indicating bullish momentum.

– Hindalco: Buy at ₹634 | Target ₹650-656 | Stop loss ₹624

The stock has shown strong strength until it made a high of 650 levels. After that, some selling pressure was observed, bringing it down to 620 levels. At the current level, the stock is expected to bounce back to its zone of 660, and if it sustains above this level, we could see an upside move toward 700 levels.

– HDFC Bank: Buy at ₹1,732 Target ₹1,760-1,780 | Stop loss ₹ 1,710

If we analyze Friday’s price action, the banking sector outperformed the broader market, with HDFC Bank providing strength and closing on a positive note. On the hourly chart, the RSI indicates bullish momentum, and if the market supports today, HDFC Bank could see a strong upward move.

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Stocks recommended by MarketSmith India:

HDFC Bank Ltd: Current market price ₹1,732.40 | Buy range ₹1,715–1,745 | Profit goal ₹1,870 | Stop loss ₹1,670 | Timeframe 1–2 months

Coal India Ltd: Current market price ₹369.35 | Buy range ₹362–372 | Profit goal ₹430 | Stop loss ₹340 | Timeframe 1–2 months

About the analysts: MarketSmith India is a stock research platform. Raja Venkatraman is co-founder, NeoTrader. Ankush Bajaj is a Sebi-registered research analyst.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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.

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