MarketSmith India Reveals Top Stock Picks for 10 February Trading Session
MarketSmith India, a leading stock research platform, has released its premium stock recommendations for 10 February, highlighting two key buys amid a buoyant market environment. This analysis comes as domestic equity benchmarks posted strong gains, driven by improved investor sentiment and foreign institutional inflows.
Market Recap: Sensex and Nifty 50 Surge on Positive Sentiment
On Monday, 9 February, Indian equity markets closed with robust gains, with the Sensex rising 485 points, or 0.58%, to settle at 84,065.75, and the Nifty 50 climbing 174 points, or 0.68%, to close at 25,867.30. This uptick was fueled by enhanced risk appetite following emerging clarity on the India-US trade deal, alongside buying by foreign institutional investors (FIIs) amid optimistic growth and inflation projections from the Reserve Bank of India (RBI).
Mid- and small-cap segments outperformed significantly, with the BSE 150 MidCap Index jumping 1.66% and the BSE 250 SmallCap Index surging 2.45%. Sectoral leaders included PSU Banks, Media, Consumer Durables, Metals, and Healthcare, while defensive sectors like FMCG and IT saw modest gains, indicating selective rotation rather than risk aversion.
Technical Outlook: Nifty 50 Shows Constructive Momentum
From a technical perspective, the Nifty 50 continues to display a positive structure, forming higher lows on daily charts and indicating sustained buying interest. Momentum indicators such as the RSI, rebounding to mid-50s, and the MACD, showing positive convergence, suggest room for further upside without overbought conditions. According to O’Neil’s methodology, the market has transitioned from a Downtrend to a Rally Attempt, with key support at 25,400–25,100 and resistance at 25,800–26,000. A close above 26,000 could trigger moves toward 26,300–26,400.
Nifty Bank Performance: Resilience Amid Volatility
The Nifty Bank index gained 548.80 points, or 0.91%, closing at 60,669.35 on 9 February, with intraday recovery highlighting active dip-buying. Momentum indicators remain positive, with RSI around 60 and MACD in bullish territory. Support is seen near 60,500–60,400, while resistance lies at 61,000, with potential for upside to 61,500–62,000 upon breakout.
Stock Recommendation 1: CCL Products (India) Ltd
Current Price: ₹1,021
Buy Range: ₹1,020–1,040
Target Price: ₹1,160 in two to three months
Stop Loss: ₹960
Why Recommended: CCL Products benefits from strong global demand for instant coffee, supported by long-term contracts with international FMCG clients, rising private-label penetration, capacity expansion, and a shift toward higher-margin freeze-dried and premium coffee variants, enhancing earnings visibility.
Key Metrics: P/E ratio of 35.23, 52-week high of ₹1,074, and volume of ₹3.88 crore.
Technical Analysis: The stock shows a consolidation base breakout pattern.
Risk Factors: Volatility in green coffee prices and currency movements may pressure margins despite partial pass-through mechanisms, along with high dependence on a few large global customers, increasing concentration risk.
Stock Recommendation 2: BSE Ltd
Current Price: ₹2,985
Buy Range: ₹2,970–3,000
Target Price: ₹3,450 in two to three months
Stop Loss: ₹2,789
Why Recommended: BSE Ltd is poised for growth due to structural expansion in India’s capital markets, driven by rising retail participation that boosts cash market and derivatives volumes. Strong operating leverage from technology-led platforms allows efficient translation of revenue growth into profitability.
Key Metrics: P/E ratio of 68.58, 52-week high of ₹3,025, and volume of ₹54.62 crore.
Technical Analysis: The stock exhibits a cup-with-handle breakout pattern.
Risk Factors: Intense competition from NSE, particularly in high-volume segments like equity derivatives, may limit market share gains. Regulatory changes affecting transaction charges, product approvals, or trading structures could impact revenue visibility.
About MarketSmith India
MarketSmith India is a stock research platform and advisory service focused on the Indian stock market, offering tools and resources based on the CAN SLIM methodology founded by legendary investor William J. O’Neil. Operated by William O’Neil India Pvt. Ltd. (SEBI Registration No.: INH000015543), it provides a 10-day free trial for investors seeking informed decision-making.
Disclaimer: The views and recommendations in this article are those of individual analysts and do not represent the views of Mint. Investors are advised to consult certified experts before making any investment decisions.
