Ashok Leyland, Grasim among top stocks to buy today; Check target here

Stocks to buy: Analyst at Angel One recommends Ashok Leyland, Grasim and one other stock; Check target price, stop loss here

Stocks to buy: 

NSE scrip – ASHOKLEY

View - Bullish

Last close – ₹250

After four weeks of consolidation, the stock witnessed strong positive traction this week, gaining over 6 per cent. The recent consolidation, when viewed in context with the rally from the April swing low, forms a classic Flag and Pole pattern — a strong continuation setup. This suggests that the uptrend is likely to resume in the near term. Supporting this view, the momentum oscillator RSI has crossed above 70, indicating robust strength behind the move.

 

Hence, we recommend to 'Buy' ASHOKLEY around ₹250 - ₹247 | Stop-loss: ₹239 | Target: ₹270

 

NSE scrip – GRASIM

View - Bullish

Last close – ₹2,860

For the past seven months, prices have consistently faced resistance around the 2800 mark. However, this week, the stock decisively broke above this key hurdle, confirming a breakout from an Inverse Head and Shoulders pattern. The breakout is backed by a noticeable surge in volume, adding strength to the signal. Additionally, the RSI has given a fresh buy crossover with its signal line, while prices are now comfortably trading above all major moving averages, reinforcing the bullish

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Hence, we recommend to 'Buy' GRASIM around ₹2,860 - ₹2,850 | Stop-loss: ₹2,760| Target: ₹3,050

 

NSE scrip – LAURUSLABS

View - Bullish

Last close – ₹702

The stock has delivered a long-term breakout by surpassing its 2021 high, marking a significant shift in structure. In the short term as well, the trend remains strong, with prices consistently forming higher highs and higher lows. Notably, the volume during upmoves has been significantly higher compared to down moves, indicating strong participation. Momentum oscillators are also in the positive zone, lending further support to the bullish view. 

Hence, we recommend to 'Buy' LAURUSLABS around ₹702 - ₹698 | Stop-loss: ₹679| Target: ₹750  (Disclaimer: This article is by Rajesh Bhosale, equity technical analyst, Angel One Ltd. View expressed are his own.)