Top Stock Picks For October: Three Stocks That Analysts Are Bullish On

As markets gear up for the festive-month rally, market experts are spotting fresh breakout opportunities across select mid- and large-cap counters. SEBI-registered analysts have picked Hindustan Copper, Sona BLW Precision Forgings, and Larsen & Toubro (L&T) as top picks for October. 

Let’s take a look at at the rationale behind their October picks.

Hindustan Copper

According to analyst Prabhat Mittal, October is a great time to invest in Hindustan Copper. The stock traded above breakout levels, making higher highs and lows. Other technical indicators also suggested a buying signal. Mittal recommended buying at ₹300-₹305 with a stop loss at ₹275 for a target price of ₹360-₹370.

Sona BLW Precision Forgings

Krishna Pathak is bullish on Sona BLW. He noted that the stock faces resistance near ₹430 and its 9-week Exponential Moving Average (EMA) at ₹419, with strong support at ₹400. A sustained breakout above ₹430 could lead to targets of ₹519–₹576, with a third target of ₹612. 

On the downside, the ₹370–₹380 zone offers an accumulation opportunity. But he also cautioned that a breakdown below ₹300 could trigger further downside and advised traders to maintain a strict stop-loss.

Larsen & Toubro (L&T)

Analyst Akhilesh Jat has a strong buy call on L&T. He believes that the recent news regarding the Telangana government's acquisition of L&T's Hyderabad Metro Rail project is expected to improve its financial health by providing a strategic exit from a loss-making venture.

On the technicals, L&T's price action indicates a bullish consolidation phase, suggesting that it is poised for a breakout. The stock has formed an ascending triangle pattern, moving past the key resistance level of ₹3,731 with higher volumes. He recommended entering at ₹3,732, with a stop loss at ₹3,500 (below the recent swing low), and a target price of ₹4,080 (implying an upside of 9%)

Stocktwits’ Yash Upadhyay breaks down why these three stocks must be added to your October watchlist! Watch here to discover analysis and views from SEBI-registered advisors. 

Disclaimer: The views and opinions expressed are those of the SEBI-registered analyst/advisor mentioned in the article, and are not endorsed by Stocktwits. This is not investment advice. Please do your own research or consult a financial advisor.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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