Investors seeking guidance for their portfolio decisions on February 3, 2026, have received clear recommendations from market experts. According to Somil Mehta, Head of Alternate Research and Capital Market Strategy at Mirae Asset Sharekhan, four stocks stand out as top buys for the trading day: NMDC, DLF, Blue Star, and Indian Oil Corporation (IOC). These picks come with detailed technical analysis, providing entry ranges, stop-loss levels, and target prices to help traders navigate the market.
Detailed Analysis of Recommended Stocks
National Mineral Development Corporation (NMDC)
For NMDC, Mehta suggests a buy in the range between Rs 81 and Rs 82. Investors should set a stop loss at Rs 75 and aim for a target of Rs 90. The weekly chart indicates a breakout from the previous swing high of 80, with the stock finding support from the short-term 20 and 40 daily exponential moving averages (DEMA). NMDC has been consolidating within a broad range for three weeks and is expected to break out on the upside. Momentum indicators are showing a positive crossover, signaling strength. Key resistance is noted at 85, while support lies at 77.
DLF Limited
DLF is recommended as a buy in the range of Rs 627 to Rs 628. The advised stop loss is Rs 575, with a target of Rs 700. On the weekly chart, DLF displays a reversal from the 200 weekly moving average, supported by an important demand zone. Momentum indicators are exiting the oversold zone and have given a positive crossover, indicating growing strength. Key resistance is positioned at 670, and support is at 600.
Blue Star Limited
For Blue Star, the recommendation is to buy between Rs 1838 and Rs 1839. Set a stop loss at Rs 1680 and target Rs 2030. Blue Star is showing a breakout of an ascending trendline as well as the 200 daily exponential moving average, which is around 1800, above the short-term 20 and 40 DEMA. Momentum indicators remain positive, reflecting strength. Key resistance is at 1864, with support at 1760.
Indian Oil Corporation (IOC)
IOC is advised as a buy in the range of Rs 164 to Rs 165. The stop loss should be placed at Rs 155, with a target of Rs 175. The stock has been consolidating in a broad range over the last month and has given an ascending trendline breakout, supported by the 20 DEMA at 161. It is expected to break out of this range soon. Momentum indicators are positive, showing strength. Key resistance is at 169, and support is at 157.
Important Considerations for Investors
These recommendations are based on technical analysis and market trends as interpreted by Somil Mehta. Investors should consider their risk tolerance and conduct their own research before making any investment decisions. The stock market is subject to volatility, and past performance may not indicate future results.
Disclaimer: The recommendations and views on the stock market provided by experts are their own and do not represent the views of The Times of India. Investors are advised to consult with financial advisors and consider all factors before trading.
