Top stock picks by market experts: Recommended stocks to buy today

Three best stocks to buy today, recommended by Raja Venkatraman of NeoTrader for Thursday, 3 April

• Gujarat Alkalies And Chemicals Ltd: Buy above ₹650 | Stop ₹628 | Target ₹695-715

• Suzlon Energy Ltd: Buy above ₹58 | Stop ₹55 | Target ₹65-68

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• MRPL: Buy above ₹140 | Stop ₹133 | Target ₹148-153

Here are three stocks that are ready to surge, as recommended by Ankush Bajaj for today:

NMDC Ltd: Buy at ₹70.20 | Target ₹76-78 | Stop loss ₹67

The stock has given a falling wedge pattern breakout with strong volumes (on daily chart). Additionally, the Relative Strength Index (RSI) is above the 60 level, suggesting that the momentum is likely to continue.

Oil and Natural Gas Corporation (ONGC) Ltd: Buy at ₹250.65 | Target ₹267- ₹270 | Stop loss ₹238

The moving average convergence divergence (MACD) line stands at 1.54, currently above the signal line, indicating a bullish crossover and suggesting potential upward momentum. The recent trading volume exceeds the 30-day average, reflecting heightened trading interest and supporting the ongoing trend momentum. The average directional index (ADX) at 39 shows bullishness in this stock.

Punjab National Bank: Buy at ₹97.35 | Target ₹103- ₹105 | Stop loss ₹94

On the daily chart, the stock's RSI is trading above 60, and it is also trading above major exponential moving averages (EMAs). On the hourly chart, the stock has given a rectangle breakout around the 92 level. Expecting the price to reach ₹105 soon.

Two stock recommendations by MarketSmith India:

Buy Lemon Tree Hotels Ltd (current price: ₹140.71)

Why it’s recommended: The start of the holiday season, enhanced operational efficiencies, strategic market diversification.

Also Read: Gold bonds: Investors stay put despite making a killing

Key metrics: P/E: 49.63, 52-week high: ₹162.40, volume: ₹88.60 crore.

Technical analysis: Trendline breakout on the daily chart along with strong volume.

Risk factors: Seasonality factor/cyclical nature, affecting occupancy rates and revenues.

Buy at: ₹140.71

Target price: ₹168 in 3 months

Stop loss: ₹128

Buy Mazagon Dock Shipbuilders Ltd (current price: ₹2,604)

Why it’s recommended: Two new potential orders worth ₹1.1 trillion (~12x its FY24 revenue)

Key metrics: P/E: 39.79, 52-week high: ₹2,930, volume: ₹ 457 crore.

Technical analysis: Retesting downward-sloping trendline breakout on the daily chart

Risk factors: Govt dependency, execution, and cost overruns, geopolitical and economic factors.

Buy at: ₹2,604

Target price: ₹3,250 in 3 months

Stop loss: ₹2,340

Also Read: Down 62% since the IPO, Star Health faces a regulatory test

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

MarketSmith India: Trade name: William O'Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.

"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 guarantees 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."