Anand James, Chief Market Strategist at Geojit Investments, has recommended three stocks for traders, citing favorable chart patterns and improving momentum indicators.
His picks for the day are Jindal Steel, SJS Enterprises, and Fortis Healthcare.
Jindal Steel
Recommendation: Buy
Current Market Price: ₹1,156
Target Price: ₹1,204 and ₹1,260
Stop Loss: ₹1,115
According to James, Jindal Steel is showing a constructive setup on the daily chart.
The stock is holding near an upward-sloping trendline support and has retraced toward the 61.8% Fibonacci level of the previous rally.
The analyst noted that prices are consolidating near the 20-day simple moving average (SMA), indicating a possible base formation.
Technical signals
- Price holding near rising trendline support
- Consolidation around the 20-SMA
- RSI approaching oversold levels
- MACD flattening in the negative zone
James believes support between ₹1,125 and ₹1,140 could trigger a rebound.
Upside levels
- First target: ₹1,204
- Second target: ₹1,260
A close below ₹1,115 would negate the bullish view.
SJS Enterprises
Recommendation: Buy
Current Market Price: ₹2,065
Target Price: ₹2,150
Stop Loss: ₹1,994
SJS Enterprises continues to maintain a strong uptrend, according to the Geojit strategist.
The stock has been forming a series of higher highs and higher lows since March. Recent consolidation after a sharp rise suggests strength rather than selling pressure.
Technical signals
- Sustained higher-high, higher-low structure
- RSI above 60
- RSI nearing a crossover above its moving average
- MACD histogram showing weakening bearish momentum
The analyst said the ₹2,000-2,020 zone has emerged as a strong support area.
A move above recent swing highs could attract fresh buying interest.
Target level
- ₹2,150
Investors are advised to maintain a stop loss at ₹1,994.
Fortis Healthcare
Recommendation: Buy
Current Market Price: ₹989
Target Price: ₹1,040
Stop Loss: ₹940
Fortis Healthcare has broken out of a multi-month consolidation range, signalling a change in trend, according to James.
The analyst said the breakout reflects renewed buying interest and points to the possibility of further gains.
Technical signals
- Breakout from a prolonged consolidation pattern
- RSI above 60
- RSI crossing above its moving average
- MACD nearing a bullish crossover
- Declining negative histogram bars
The stock has held above the breakout zone, which is now acting as support.
James said the bullish structure remains intact as long as prices stay above the ₹950-960 region.
Target level
- ₹1,040
A stop loss has been placed at ₹940.
Key levels at a glance
| Stock | Recommendation | CMP | Target | Stop Loss |
|---|---|---|---|---|
| Jindal Steel | Buy | ₹1,156 | ₹1,204 / ₹1,260 | ₹1,115 |
| SJS Enterprises | Buy | ₹2,065 | ₹2,150 | ₹1,994 |
| Fortis Healthcare | Buy | ₹989 | ₹1,040 | ₹940 |
TL;DR
Geojit Investments’ Anand James has recommended Jindal Steel, SJS Enterprises and Fortis Healthcare. He sees upside based on technical indicators, with target prices of ₹1,260, ₹2,150 and ₹1,040, respectively.
AI Summary
- Anand James of Geojit is bullish on three stocks.
- Jindal Steel has targets of ₹1,204 and ₹1,260.
- SJS Enterprises has a target price of ₹2,150.
- Fortis Healthcare could rise to ₹1,040.
- The recommendations are based on chart patterns and momentum indicators.
