Mirae Asset's Somil Mehta Unveils Top Stock Recommendations for March 17, 2026
In a detailed market analysis, Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, has identified three standout stocks for potential buying opportunities on March 17, 2026. The recommendations include MCX, Power Finance Corporation Limited, and BSE, each backed by technical indicators and strategic price points.
MCX: A Consolidation Play with Upside Potential
Buy Range: Rs 2,555 to Rs 2,556
Stop Loss: Rs 2,425
Target: Rs 2,700
On the daily chart, MCX is currently consolidating within a defined range, poised for an upward breakout. The stock is forming a higher top and higher bottom pattern, positioned above the 20-day and 40-day exponential moving averages (DEMA). Momentum indicators remain positive and above the zero line, signaling underlying strength. Key resistance is noted at Rs 2,624, while support holds firm at Rs 2,450.
Power Finance Corporation Limited: Breaking Out of a Descending Trendline
Buy Range: Rs 406 to Rs 407
Stop Loss: Rs 384
Target: Rs 445
The weekly chart for Power Finance Corporation Limited reveals a breakout from a descending trendline, coupled with a base formation at the 200-day exponential moving average (DEMA) of Rs 391. This setup is expected to trigger a range breakout on the upside. Momentum indicators are displaying a positive crossover above the zero line, indicating a bullish momentum shift. Resistance is identified at Rs 426, with support at Rs 391.
BSE: Reversal and Consolidation Breakout Signals Strength
Buy Range: Rs 2,857 to Rs 2,858
Stop Loss: Rs 2,710
Target: Rs 3,070
On the weekly timeframe, BSE is showing a promising reversal from a significant demand zone. The daily chart further highlights a breakout from a consolidation phase, with the stock receiving support from the 20-day and 40-day exponential moving averages (DEMA). Momentum indicators are positive and above the zero line, reinforcing the stock's strength. Key resistance is placed at Rs 3,030, while support rests at Rs 2,775.
Disclaimer: The recommendations and views expressed 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.
