Indian equity markets are navigating mixed signals as June begins, prompting domestic brokerage Master Capital Services to issue short-term buy recommendations for four prominent stocks. These selections, including CG Power and Industrial Solutions Ltd, Tech Mahindra Ltd, JSW Energy Ltd, and Tata Motors Passenger Vehicles Ltd (TMPV), are based on strong technical indicators pointing towards potential upside.
Master Capital Services' Top Stock Picks
JSW Energy | Buy
- Target Price: Rs 640-660
- Stop Loss: Rs 560
JSW Energy continues to demonstrate robust strength within the power sector, maintaining a steady uptrend and strong relative performance. The stock recently broke out above a key resistance near Rs 585 and is currently trading near lifetime highs, signaling significant institutional interest. The breakout was supported by expanded trading volumes, adding credibility to the move, while the Relative Strength Index (RSI) remains in bullish territory, indicating healthy momentum. The overall chart structure is positive, with consistent higher highs and higher lows. Any short-term consolidation around current levels could offer new entry opportunities for investors, as the stock is expected to see further upside as long as the breakout level holds.
Tech Mahindra | Buy
- Target Price: Rs 1570-1600
- Stop Loss: Rs 1,415
Tech Mahindra is showing signs of a gradual recovery following a significant correction earlier this year. The stock has established a stable base in the Rs 1,350-1,400 range and is now attempting to climb higher with improving momentum. The RSI has crossed above its signal line and is moving towards the bullish zone, suggesting strengthening buying interest. Recent price action indicates accumulation at lower levels, and a bounce from support reflects renewed confidence among market participants. A sustained move above Rs 1,500 could trigger fresh buying, opening the path to higher levels. The risk-reward ratio remains favorable as long as the stock maintains its position above the recent support zone, making it a candidate for accumulation on dips with a positive medium-term outlook.
CG Power and Industrial Solutions | Buy
- Target Price: Rs 980-1,020
- Stop Loss: Rs 860
CG Power has achieved a strong breakout above its previous resistance zone near Rs 875 and continues to trade within a well-defined uptrend. The stock has consistently formed higher highs and higher lows, indicative of sustained buying pressure. Although some profit booking was observed near recent highs, the overall structure remains firmly bullish. The RSI is holding above 60, signaling strong momentum despite minor consolidation. The breakout is backed by healthy trading volumes, suggesting participation from larger market players. As long as the stock sustains above the breakout level, a continuation of the upward move towards higher levels is highly probable. Investors may consider using short-term weaknesses as opportunities to accumulate the stock within the prevailing uptrend.
Tata Motors Passenger Vehicles | Buy
- Target Price: Rs 420-430
- Stop Loss: Rs 374
Tata Motors Passenger Vehicles (TMPV) recently experienced a strong breakout above the significant resistance zone around Rs 375-380, signaling a potential trend reversal after several months of consolidation. The stock has gained momentum, supported by robust volumes and increased market participation. The RSI has entered bullish territory and remains comfortably above its signal line, indicating strengthening momentum. This breakout suggests that buyers are regaining control and are likely to drive prices higher in the near term. The stock is now trading above key support levels and maintains a positive structure. Any pullback towards the breakout zone could present a favorable risk-reward opportunity for new entries, as the broader technical setup points towards further upside in the coming weeks.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.