Hero Moto, M&M, Manappuram Finance: Top stocks to trade —  Target prices, stop loss & more

Indian equity benchmark indices extended its weakness on the back of rising crude oil prices led by the elevated geopolitical concerns. Trader sentiments remained subdued over inflation and margin risks. The BSE Sensex dropped 363.66 points, or 0.47 per cent, to close at 76,391.39, while NSE's Nifty50 tanked 126.65 points, or 0.53 per cent, to end at 23,869.60 for the day.

Select buzzing stocks like Mahindra & Mahindra Ltd (M&M), Hero MotoCorp and Manappuram Finance Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research at Master Capital Services has to say on them ahead of Friday's trading session:


Hero MotoCorp | Buy | Target Price: Rs 5,500-5,600 | Stop Loss: Rs 4,900
Hero MotoCorp Ltd has confirmed a bullish trend reversal after breaking out of a prolonged consolidation that developed following a rounding bottom formation. The breakout is backed by a strong surge in volumes, reflecting renewed buying interest. With this move, the stock has reclaimed all its key moving averages, reinforcing the improving technical setup. Price action has transitioned into a pattern of higher highs and higher lows, indicating strengthening momentum. The overall chart structure suggests the stock is well positioned to extend its uptrend in the coming sessions.


Manappuram Finance | Buy | Target Price: Rs 378-385 | Stop Loss: Rs 331
Manappuram Finance has extended its long term uptrend by registering a fresh all time high above the Rs 345 mark, supported by a strong surge in trading volumes. The stock continues to exhibit a robust price structure with a consistent pattern of higher highs and higher lows, while every corrective phase has found support near the 21 EMA. It is trading comfortably above all its key moving averages, highlighting sustained bullish momentum. RSI at 64 reflects strengthening momentum, indicating the potential for the ongoing uptrend to continue.


Mahindra & Mahindra | Buy | Target Price: Rs 3,410-3,500 | Stop Loss: Rs 3,080
M&M has staged a strong recovery after repeatedly finding support near the Rs 2,900-2,920 zone, establishing a solid base following its earlier downtrend. The stock has now broken out of a rising channel, signalling strengthening bullish momentum. It has reclaimed all its key moving averages except the 200 EMA, where it is currently facing minor resistance. The formation of higher highs and higher lows reflects a healthy short term uptrend, while an RSI reading of 59 suggests improving momentum with scope for further upside.