Top trading ideas: Analyst bets on Hemisphere Properties, Sumitomo Chemical

Anand James, chief market strategist at Geojit Investments, is bullish on the shares of Hemisphere Properties and Sumitomo Chemicals India

Stocks to Buy Today: Recommendations by Anand James, Geojit Investments

Hemisphere Properties India

HEMIPROP (LTP: ₹135)

View: Buy

Target: ₹145–150

Stop-loss – ₹128 

HEMIPROP is showing a clear improvement in its technical structure after a strong daily Supertrend breakout, marking a shift from a corrective phase to a bullish trend. The stock has moved back above key support levels and is holding above recent swing highs, which points to rising buying interest and easing selling pressure. Strength is also visible on higher timeframes, with the weekly MACD flashing a bullish signal line crossover. This alignment across timeframes adds confidence to the upside view.  

 

On the daily chart, a series of higher lows after the formation of April base suggests steady accumulation, while RSI is moving higher without being stretched, leaving room for further gains. Healthy volumes on the recent rise suggest that even in the event of a consolidation, uptrend is likely to persist. 

With these in perspective, we believe that as long as the price stays above the breakout zone and 130-128 on the downside, the setup favours bulls, with the stock well positioned to head towards the 145-150 zone in the near term.  READ | Stocks to buy today: Analyst at Kotak Sec bets on Infosys, WeWork India

Sumitomo Chemical India 

SUMICHEM (LTP: ₹449)

View: Buy

Target: ₹470

Stop-loss – ₹438 

SUMICHEM is showing encouraging signs of a broader trend reversal across timeframes. The stock is on the verge of breaking above the weekly Supertrend, which would mark an important shift from a sustained downtrend to a bullish phase. Adding to this strength, monthly consecutive reversal candles have emerged after prolonged decline, indicating strong buying interest at lower levels and the possibility of a medium-term base formation. While such initial conditions by way of patterns are in place, momentum indicators are also supportive, with the MACD histogram signaling exhaustion of bearish momentum, suggesting that selling pressure is fading.  

On the daily chart, a clean break above the declining trendline confirms a change in short-term structure and improves near-term price action. This confluence of signals points to accumulation and improving sentiment, with improving potential for an upswing. As long as the stock holds above the key support of 438, the structure favors further upside, with the stock well positioned to gradually move towards the target of 470 in the coming sessions.  (Disclaimer: This article is by Anand James, chief market strategist, Geojit Investments. View expressed are his own. Click here for analyst disclosures)