Top stocks to buy today: Anand James of Geojit bets on theses 3 shares

Anand James, chief market strategist at Geojit Investments, is bullish on the shares of Jindal Steel, SJS Enterprises, and Fortis Healthcare today

Stocks to Buy Today: Anand James, Geojit Investment

Jindal Steel: Buy 

CMP: ₹1,156

Target: ₹1,204/₹1,260

Stop loss: ₹1,115

 

Jindal Steel is currently holding a structurally constructive setup on the daily chart, with price action stabilizing near a well-defined rising trendline support. The stock has retraced toward the 61.8 per cent Fibonacci level of the prior upswing, a zone typically associated with demand re-emergence in trending markets. Additionally, the price is consolidating within the 20-SMA band, suggesting volatility compression and a potential base formation.

 

Momentum indicators show signs of exhaustion on the downside. RSI, although below midline, is nearing oversold territory and could witness a mean-reversion bounce. MACD remains in the negative zone but is flattening, hinting at a possible slowdown in bearish momentum. 

 

This confluence of trendline support, key Fibonacci retracement, and moving average clustering enhances the probability of a reversal from current levels. A sustained hold above the ₹1,125–₹1,140 support region could trigger a rebound toward ₹1,204, followed by ₹1,260 as the next resistance zone.

 

Risk management remains critical. A close below ₹1,115 would invalidate the bullish setup by breaking the rising trendline and opening room for further downside.

SJS Enterprises: Buy

CMP: ₹2,065

Target: ₹2,150

Stop loss: ₹1,994

 

SJS Enterprises continues to exhibit a strong bullish structure on the daily chart, characterized by a clear sequence of higher highs and higher lows since March, confirming a sustained uptrend. The recent price action shows healthy consolidation after a sharp rally, indicating strength rather than distribution. 

Momentum indicators further support the positive outlook. RSI remains firmly above the 60 mark, reflecting underlying bullish momentum, and is on the verge of crossing above its moving average. Meanwhile, the MACD histogram is printing progressively shorter negative bars, signaling waning bearish pressure and a likely shift toward bullish momentum.

 

The stock is currently stabilising near the ₹2,000-2,020 zone, which now acts as a strong support level. As long as this base holds, the trend remains intact. A sustained move above recent swing highs could trigger fresh buying interest.

Given the favorable price structure and improving momentum signals, SJS Enterprises is well-positioned for an upward move toward the ₹2,150 level in the near term. Protect all longs with a stoploss placed below ₹1,994.

Fortis Healthcare: Buy

CMP: ₹989

Target: ₹1040

Stop loss: ₹940

  Fortis Healthcare is displaying a strong bullish setup on the daily chart, backed by a decisive breakout from a multi-month consolidation range. This breakout marks a structural shift in trend, indicating renewed buying interest and the potential for a sustained upward move. 

Momentum indicators are aligned with the bullish price action. The RSI is firmly positioned above 60, reflecting strong underlying strength, and has recently crossed above its moving average, signaling improving momentum. Additionally, the MACD is on the verge of a bullish signal crossover, while the histogram shows diminishing negative bars suggesting that selling pressure is fading and a momentum reversal is underway. 

Price action post-breakout is constructive, with the stock holding above the breakout zone, reinforcing it as a new support base. This stability indicates acceptance at higher levels and increases the probability of continuation. As long as the stock sustains above the ₹950-960 support region, the bullish structure remains intact. A continuation of current momentum could drive the price toward the ₹1,040 level in the near term. All longs may be protected with stoploss placed below ₹940. 

(Disclaimer: This article is by Anand James, chief market strategist, Geojit Investments. View expressed are his own. Click here for analyst disclosures)