Stock market recommendations for June 9, 2026, from Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, include sell calls on Kalyan Jewellers India and Interglobe Aviation (IndiGo), and a buy call on Fortis Healthcare.
Kalyan Jewellers India Ltd: Sell
Mehta recommends selling Kalyan Jewellers in the range between Rs 354 and Rs 353, with a stop-loss at Rs 372 and a target of Rs 330. On the weekly time frame, the stock is retesting a broad range breakdown below the 200-week exponential moving average. The daily chart shows lower tops and lower bottoms below the 20- and 40-day exponential moving averages. Momentum indicators display a negative crossover, indicating weakness. Key resistance is at Rs 367, while support is at Rs 343.
Interglobe Aviation (IndiGo): Sell
For IndiGo, Mehta advises selling in the range between Rs 4,360 and Rs 4,361, with a stop-loss at Rs 4,600 and a target of Rs 4,100. The weekly chart reveals multiple rejections from the 20- and 40-week exponential moving averages. On the daily chart, the stock shows a consolidation range breakdown to the downside, below short-term averages. Momentum indicators are showing a negative crossover, signalling weakness. Key resistance is at Rs 4,575, while support is at Rs 4,230.
Fortis Healthcare: Buy
Mehta recommends buying Fortis Healthcare in the range between Rs 989 and Rs 990, with a stop-loss at Rs 950 and a target of Rs 1,040. The weekly chart shows a breakout above the important resistance level of Rs 950, supported by the 20- and 40-week exponential moving averages. On the daily chart, the stock is forming higher tops and higher bottoms above short-term averages, accompanied by strong volume. Momentum indicators show a positive crossover above the zero line, indicating strength. Key resistance is at Rs 1,000, while support is at Rs 970.
Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.
About the Author
The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
