Mirae Asset's Somil Mehta Unveils Top Stock Picks for April 2026
In a recent market analysis, Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, has identified three standout stock recommendations for investors on April 21, 2026. The selections include Grasim, State Bank of India (SBI), and Navin Fluorine International Limited, each backed by detailed technical indicators and strategic entry points.
Grasim: A Breakout Opportunity with Strong Momentum
Somil Mehta advises buying Grasim shares in the price range of Rs 2740 to Rs 2760. He sets a stop-loss level at Rs 2670 and projects a target price of Rs 2900. On the daily chart, the stock is exhibiting a significant breakout from an ending diagonal pattern and a descending trendline, supported by the 20 and 40 Daily Exponential Moving Averages (DEMA).
Technical Insights: Grasim is forming a higher top and higher bottom above the 100 DEMA, indicating a bullish trend. Momentum indicators are positive and positioned above the zero line, reflecting underlying strength. Key resistance is noted at Rs 2795, with support holding firm at Rs 2710.
State Bank of India (SBI): Reversal Signals and Positive Divergence
For SBI, Mehta recommends a buy in the range of Rs 1100 to Rs 1110, with a stop-loss at Rs 1040 and a target of Rs 1230. The daily chart reveals a breakout from an inverted head and shoulder pattern, with the stock finding support at the 200-day moving average (DMA).
Chart Analysis: Reversal candles are evident on the daily chart, accompanied by positive RSI divergence. Momentum indicators are showing a positive crossover, suggesting increasing strength. Resistance is identified at Rs 1140, while support levels are at Rs 1075.
Navin Fluorine International: Bullish Momentum on Multiple Timeframes
Navin Fluorine International Limited is suggested for purchase between Rs 6440 and Rs 6470, with a stop-loss at Rs 6200 and a target of Rs 6900. On the weekly timeframe, the stock is supported by an ascending trendline, while the daily chart indicates a breakout from a flag pattern.
Technical Support: The stock is also receiving support from the 20 and 40 DEMA. Momentum indicators are providing a positive crossover, pointing to bullish momentum. Key resistance stands at Rs 6620, with support at Rs 6350.
Disclaimer: The recommendations and views expressed by experts are their own and do not represent the opinions of any affiliated organizations. Investors are advised to conduct their own research before making financial decisions.
