
Top stock picks by market experts: Recommended stocks to buy today 24 March
Subscribe to enjoy similar stories. SBI: Buy at ₹753 | Target ₹778-785 | Stop loss ₹ 744 SBI is showing strong bullish signs on the hourly chart. The MACD indicator is positive, which tells us that the stock has good upward momentum.
The ADX is at 41, meaning the current trend is strong and likely to continue. The stock has also given a reversal head and shoulder breakout, which is a powerful sign that the price can move higher from here. In addition, SBIN is trading above its key moving averages, confirming that buyers are in control.
However, some indicators are in the overbought zone, so traders should stay cautious and always use a stoploss SAIL : Buy at ₹115.30 | Target ₹124-128 Stop loss ₹110 Steel Authority of India Ltd. (SAIL) has given a rectangle breakout on the hourly chart, signaling consolidation followed by a sharp move. Additionally, a triangle breakout at the ₹113.5 level confirms strong bullish momentum.
On the 4-hour timeframe, the MACD (12,26) at +1.55 reflects increasing buying strength. The ADX (14) at 44.917 indicates a strong trending market, supporting further upside potential. Ambuja Cements: Buy at ₹514.5 | Target ₹535-54 Stop loss ₹502.50 Ambuja Cements has formed a reverse head and shoulder pattern on the hourly chart, indicating a bullish reversal setup.
The breakout from this pattern signals the potential for strong upward movement. Supporting this, the ADX is at 40, showing a strong trend is in play. Additionally, the MACD at 4 reflects sustained bullish momentum, suggesting further upside continuation.
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