Benchmark index made a new all time high on the last trading day on March 7, however it failed to sustain the top spot. But some stocks specifically from the Tata Group outperformed Nifty index and closed on a higher note with high volume breakout.
These stocks were mostly from Chemical and Power sector, particularly agrochemical division as crop plantation season in India is near. Let us now check top stocks to trade for tomorrow and the coming week starting from 11 march.
Top Stocks to Buy Tomorrow Monday 11 March
As per studies based on high volume breakout, these are some of the stocks from Tata Group that you can buy on Monday March 11.
Tata Chemicals
Tomorrow – BUY TATACHEM at ₹1212 with Stop Loss of ₹1125 , target of ₹1351 and second target of ₹1425
The company specialises in inorganic chemicals and specialty products. They have presence across India along with international markets like Kenya, US and UK.
Tata Chemicals is now trading at an all time high price of ₹1315. The stock broke out of its previous resistance of ₹1183 and is now trading above it. Weekly candle formed is very bullish with high delivery volume which shows there is strength of bullish momentum.
From a low of ₹204 in year 2020, to reaching ATH in 2024, shares of Tata Chemicals have gained more than 550% in the last four years. The stock has also broken out of the triangle pattern which was formed since past three years.
Tata Chemical Swing trading Targets
| Target level | Price (₹) |
|---|---|
| Target 1 | 1380 |
| Target 2 | 1450 |
| Target 3 | 1500 |
Tata Power
Tomorrow – BUY TATAPOWER at ₹408 with Stop Loss of ₹403 , target of ₹433 and second target of ₹444
Founded in the year 1915, TATAPOWER is one of India’s largest power companies with its presence in Wind, Hydro and Solar power energies. The power company is also expanding in futuristic business such as EV charging stations where they want to spread their network pan India.
Like most of the Power stocks, TATAPOWER has also performed exceptionally well in the last few months amid high demand for power. Shares of Tata Power made a low of ₹183 in the early 2023, after which the stock rose over 132% in a short time span.
Tata power was consolidating for the last one month after which the stock broke out of its resistance of ₹412 marking a new high price. The trend has been very bullish with the stock making higher highs on daily time frame.
Tata Power Swing trading targets
| Target level | Price (₹) |
|---|---|
| Target 1 | 442 |
| Target 2 | 455 |
| Target 3 | 529 |
Rallis
Tomorrow – BUY RALLIS at ₹272 with Stop Loss of ₹252 and target of ₹296 , second target of ₹308
Agrochemical company RALLIS have a wide range of products like insecticides, fungicides, herbicides, and plant growth nutrients. Tata Group , who are promoters of Rallis, has 55% stake in the company.
Shares of Rallis have broken out of an important level of ₹272 which was acting as strong resistance for the company. The breakout is also supported by high volume and delivery percentage. In a post earlier, we talked in detail about reasons behind the rise in Rallis which you must check.
Rallis price forecast for upcoming days
| Target | Target Price (in ₹) |
|---|---|
| Target 1 | ₹302 |
| Target 2 | ₹330 |
| Target 3 | ₹350 |
All of the above stocks – RALLIS, TATAPOWER and TATACHEM is expected to perform well in the coming week as these are breakout candidates. These stocks are also supported by good technical and fundamentals backing the breakout.
