Top stock picks by market experts: Recommended stocks to buy today 24 March

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.

Also Read: Street has a spring in the step, but no bottom yet

Best stocks recommendations for today, MarketSmith India's top stock picks for 24 March:

Apollo Micro Systems Ltd: Current market price: ₹125.18 | Buy range: ₹123–126 | Profit goal: ₹155 | Stop loss: ₹112 | Timeframe: 2–3 months.

Lemon Tree Hotels Ltd: Current market price: ₹139.14 | Buy range: ₹138–140 | Profit goal: ₹165 | Stop loss: ₹ 128 | Timeframe: 2–3 months.

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 related documents carefully before investing.

Disclaimer: The views and recommendations given in this article are those of individual analysts and do not represent the views of Mint. We advise investors to check with certified experts before making any investment.

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