Mirae Asset's Somil Mehta Issues Sell Calls for Key Stocks
On March 24, 2026, Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, has recommended selling three prominent stocks: Crompton, Hero Moto Corp, and JSW Steel. This guidance is based on detailed technical analysis, highlighting bearish trends and potential downside risks in the current market environment.
Crompton: Sell Range Rs 235-238 with Target Rs 220
Crompton is advised for selling within the price range of Rs 235 to Rs 238. The stop loss is set at Rs 248, with a target price of Rs 220. On the daily chart, the stock exhibits a consolidation range breakdown, forming lower tops and lower bottoms below the 20 and 40-week exponential moving averages (WEMA). Momentum indicators show a negative crossover below the zero line, indicating weakness. Key resistance is identified at Rs 242, while support lies at Rs 227.
Hero Moto Corp Ltd: Sell Range Rs 5100-5120 with Target Rs 4700
For Hero Moto Corp Ltd, the sell recommendation is in the range of Rs 5100 to Rs 5120. The stop loss is placed at Rs 5368, with a target of Rs 4700. On the weekly chart, the stock shows a breakdown of an important demand zone and a broad range. The daily chart reveals a close below the 200-day exponential moving average (EMA) at Rs 5252. Momentum indicators are negative below the zero line, suggesting bearish momentum. Key resistance is at Rs 5213, and support is at Rs 4917.
JSW Steel: Sell Range Rs 1130-1140 with Target Rs 1040
JSW Steel is recommended for selling between Rs 1130 and Rs 1140. The stop loss is Rs 1187, with a target price of Rs 1040. On the weekly timeframe, the stock displays a breakdown of an upward channel. The daily chart indicates a rejection from the 20 and 40-day exponential moving averages (DEMA), followed by a breakdown of the range and the 200 DEMA. Momentum indicators are negative below the zero line, pointing to weakness. Key resistance is at Rs 1154, and support is at Rs 1090.
Disclaimer: The recommendations and views provided by experts are their own and do not represent the opinions of The Times of India. Investors are advised to conduct their own research before making any financial decisions.
