Ruchit Jain of Motilal Oswal Financial Services has recommended buying shares of Nestle India Ltd and Bharat Forge Ltd, citing favourable technical setups and positive momentum indicators.
Nestle India: Target ₹1,530
Ruchit Jain has a ‘Buy’ recommendation on Nestle India with a target price of ₹1,530.
Trade setup
- Current market price (CMP): ₹1,437
- Target price: ₹1,530
- Stop loss: ₹1,390
According to the analyst, the stock recently broke out of a prolonged consolidation phase after the company’s quarterly results.
He noted that:
- The breakout was accompanied by higher volumes.
- The stock has retested the breakout zone.
- Momentum appears to be resuming.
Jain said positional traders could consider buying around current levels.
As of 10:39 am on June 11, 2026, Nestle India was trading at ₹1,441.70, up 0.24% for the day.
52-week range
- High: ₹1,498.60
- Low: ₹1,084.70
Key levels for Nestle India
| Particulars | Value |
|---|---|
| CMP | ₹1,437 |
| Target | ₹1,530 |
| Stop loss | ₹1,390 |
Bharat Forge: Target ₹2,080
Jain has also recommended buying Bharat Forge Ltd.
Trade setup
- Current market price (CMP): ₹1,950
- Target price: ₹2,080
- Stop loss: ₹1,875
According to the analyst, the stock has been consolidating within a range, which he described as a time-wise correction in an ongoing uptrend.
He said the stock has held above important moving average supports, while the Relative Strength Index (RSI) indicates a possible return of positive momentum.
Key levels for Bharat Forge
| Particulars | Value |
|---|---|
| CMP | ₹1,950 |
| Target | ₹2,080 |
| Stop loss | ₹1,875 |
Based on these technical indicators, Jain advised positional traders to consider buying opportunities in the stock near current levels.
TL;DR
Ruchit Jain of Motilal Oswal Financial Services has recommended buying Nestle India and Bharat Forge. He has set targets of ₹1,530 and ₹2,080, respectively, with stop losses at ₹1,390 and ₹1,875.
AI Summary
- Ruchit Jain has a ‘Buy’ call on Nestle India.
- Target price for Nestle India is ₹1,530.
- Bharat Forge has a target price of ₹2,080.
- Stop losses are ₹1,390 for Nestle India and ₹1,875 for Bharat Forge.
- The recommendations are based on technical indicators and price patterns.
