MUMBAI — As markets approach the final stretch of 2024, analysts are advising traders to adopt a selective and disciplined approach. For Thursday’s session, four key stocks have emerged as top recommendations based on a mix of technical signals and recent earnings performance.

1. Grasim Industries – Cautious Outlook Amid Technical Weakness

Grasim Industries has come under pressure following a breakdown below its key support levels. Technical analysts from Bonanza suggest a sell call on the stock, citing bearish momentum.

  • Sell below: ₹2,480

  • Target: ₹2,340

  • Stop-loss: ₹2,620

Despite long-term confidence in the Aditya Birla Group firm, short-term signals point to potential downside. Volume trends and sector-wide softness support the recommendation for a tactical exit.

2. AMI Organics – Strong Fundamentals Signal Buy

Following a standout Q3 performance, AMI Organics has been recommended as a buy. The specialty chemical manufacturer reported:

  • PAT: ₹62.7 crore, up 144% YoY

  • EBITDA margin: 27.5%

  • Revenue growth: 28% YoY

The stock has also shown strong technical indicators, suggesting further upside as institutional interest continues to build.

3. Star Health & Allied Insurance – Building Momentum

Star Health is showing signs of accumulation, with analysts flagging a near-term breakout opportunity.

  • Buy near: ₹484

  • Target: ₹528

  • Stop-loss: ₹455

The weekly Relative Strength Index (RSI) supports a bullish setup, making this insurance play a key candidate for short-term gains.

4. Additional Mid-Cap Play

While not explicitly named, the fourth recommendation reportedly involves a mid-cap opportunity within the broader market’s thematic plays. Analysts suggest traders keep an eye on stocks tied to domestic consumption and infrastructure as potential outperformers.

Market Sentiment: Year-End Volatility Demands Caution

With the Nifty50 and Sensex testing key moving averages, trading desks remain cautious. Thin holiday volumes, combined with global uncertainty and FII outflows, mean risk management is crucial.

“Selective stock-picking backed by solid technicals and earnings momentum is the way forward for short-term trades,” said a senior analyst at LKP Securities.

Disclaimer: These stock ideas are based on broker reports and technical analyses. Investors are advised to perform due diligence and consult financial advisors before making investment decisions.

By Staff Writer, Courtesy of Forbes| December 22, 2024 | Edited for WTFwire.com
Sources: Economic Times – ETMarkets, Moneycontrol, MarketsMojo