Mirae Asset's Somil Mehta Unveils Top Stock Picks for March 2026
In a significant market update, Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, has released his stock recommendations for March 10, 2026. The analyst has identified two strong buy opportunities and one sell call, providing detailed technical insights to guide investors.
Aurobindo Pharma Ltd: A Promising Buy with Bullish Indicators
Somil Mehta recommends buying Aurobindo Pharma Ltd in the price range of Rs 1248 to Rs 1249. This call is supported by a stop loss set at Rs 1180 and a target price of Rs 1350, indicating a potential upside for investors.
On the daily chart, the stock is exhibiting a breakout from a descending trendline, a classic bullish signal. It is forming a higher top and higher bottom pattern, which is positioned above the 200-day exponential moving average (DEMA) at 1160. This technical structure suggests sustained upward momentum.
Momentum indicators are positive and remain above the zero line, further confirming strength in the stock. Key resistance levels are identified at 1270, while support is firmly established at 1188, providing clear benchmarks for traders.
Bharat Dynamic Ltd: Breakout Signals Strong Buy Potential
For Bharat Dynamic Ltd, Mehta advises a buy in the range of Rs 1330 to Rs 1331. The recommendation includes a stop loss at Rs 1270 and a target of Rs 1430, highlighting another attractive investment opportunity.
The daily chart shows a breakout from a consolidation zone, coupled with the stock surpassing the short-term 20 and 40-day exponential moving averages (EMAs). It is also taking support from a demand zone, reinforcing its bullish stance.
The Relative Strength Index (RSI) displays positive divergence, and momentum indicators are above the zero line, both suggesting robust bullish momentum. Resistance is noted at 1398, with support at 1300, offering strategic points for entry and exit.
Persistent: A Sell Call Amid Technical Weakness
In contrast, Somil Mehta issues a sell recommendation for Persistent in the range of Rs 4765 to Rs 4775. This advice comes with a stop loss at Rs 4900 and a target price of Rs 4400, indicating expected downward movement.
On the daily chart, Persistent is forming a flag pattern, which often precedes a continuation of the prior trend. The stock has faced resistance from the short-term 10-day DEMA and is developing a lower top and lower bottom formation, signaling bearish pressure.
Momentum indicators have given a negative crossover below the zero line, clearly showing weakness. Key resistance is placed at 4873, while support lies at 4587, guiding risk management strategies.
Disclaimer: The recommendations and views expressed by Somil Mehta are his own and do not represent the views of The Times of India or its affiliates. Investors are advised to conduct their own research or consult financial advisors before making investment decisions.
