Amid growing market volatility, SMJ has identified key stock picks for October 15. These recommendations are based on current technical trends, highlighting stocks that show strong potential for upward momentum. Here’s a closer look at four top selections to keep an eye on today.
Also Read: Market Outlook & Trade Setup for October 15: Nifty 50 and Bank Nifty Brace for Flat Start
Kalyan Jewellers India (Target Price: Rs 790 | Stop Loss: Rs 729)
Kalyan Jewellers is attracting attention with its recent breakout on the daily chart. The stock has sustained above the crucial 21-day Exponential Moving Average (EMA), signaling continued strength.
The RSI is also showing a bullish crossover, adding weight to the upward trend. With these indicators aligned, the stock is poised to rise towards Rs 790, offering a promising short-term target. Traders should keep a close watch on the Rs 729 support level.
JM Financial (Target Price: Rs 175 | Stop Loss: Rs 149)
JM Financial has recently completed a rounding bottom breakout on the daily chart, a pattern often associated with bullish reveRs als. The stock’s RSI is signalling growing buying pressure, and its position above the 21EMA further strengthens the case for an upward move.
The stock is on course for a potential rally towards Rs 175, with support set at Rs 149. Investors looking for technical cues will find this an attractive buy for the near term.
Mphasis (Target Price: Rs 3,180 | Stop Loss: Rs 2,869)
Mphasis has shown renewed optimism following a consolidation phase, with a clear move back above its 50-day EMA. The RS I presents a hidden positive divergence, pointing to potential further gains.
With momentum building, the stock is expected to climb towards Rs 3,180, while downside protection is available at Rs 2,869. Given its technical setup, this stock remains one of the top picks for traders seeking stability with upside potential.
IndusInd Bank (Target Price: Rs 1,480 | Stop Loss: Rs 1,340)
IndusInd Bank has emerged as a solid buy for the day, driven by strong technical indicators. The stock has broken through key resistance levels, setting the stage for a potential run towards Rs 1,480.
The RSI remains favourable, suggesting the rally could extend, with support comfortably placed at Rs 1,340. This stock is a noteworthy pick for those looking to benefit from ongoing banking sector momentum.
These recommendations are intended for informational purposes only and should not be considered as financial or investment advice. Investors are encouraged to perform their own research and consult with a certified financial advisor before making any investment decisions. SMJ is not responsible for any losses or damages that may arise from following the recommendations outlined in this article.
