Expert Stock Recommendations for February 4, 2026: IOC, Tata Elxsi, and IFCI in Focus
In the dynamic landscape of the Indian stock market, expert insights can provide valuable guidance for investors seeking opportunities. According to Mehul Kothari, DVP - Technical Research at Anand Rathi Shares and Stock Brokers, three stocks stand out as top picks for today, February 4, 2026: Indian Oil Corporation (IOC), Tata Elxsi, and IFCI. These recommendations are based on detailed technical analysis, highlighting key price levels, stop losses, and targets to help traders navigate market movements effectively.
Indian Oil Corporation (IOC): Trendline Breakout with Strong Indicator Support
Buy Range: ₹165–₹163 | Stop Loss: ₹159 | Target: ₹172
Indian Oil Corporation has demonstrated a robust technical setup, forming a solid base near its 100-Day Exponential Moving Average (100-DEMA). This level has consistently acted as a reliable dynamic support in recent trading sessions, providing a foundation for upward movement. The stock has achieved a decisive trendline breakout, signaling a potential shift in short-term momentum that could lead to further gains.
On the indicator front, a bullish MACD crossover is clearly visible, indicating strengthening upside momentum and positive price action. Additionally, the Stochastic Oscillator has reversed higher near the 30 zone without entering deep oversold territory, suggesting improving price strength and underlying buying interest among market participants.
The confluence of these factors—including the 100-DEMA support, trendline breakout, MACD bullish crossover, and stochastic reversal—points towards a constructive setup with scope for additional upside if the breakout sustains. Investors should monitor these levels closely for entry and exit points.
Tata Elxsi: Alligator Breakout with Bullish Momentum Indicators
Buy Range: ₹5,500–₹5,400 | Stop Loss: ₹4,900 (closing basis) | Target: ₹6,275 & ₹6,550 (1–3 months)
Tata Elxsi has closed decisively above the Williams Alligator indicator, confirming a fresh uptrend and an improvement in the overall price structure. This breakout is a positive sign for traders looking for momentum plays in the current market environment.
Momentum indicators remain supportive of this upward move. The Directional Movement Index (DMI) is in bullish mode, with the +DI above the −DI, indicating strengthening buying pressure and positive directional movement. Furthermore, the MACD is sustaining above the zero line, reflecting strong trend momentum and increasing the probability of continued upside in the coming weeks.
This combination of an Alligator breakout, bullish DMI structure, and positive MACD trend suggests a trend-continuation setup with potential for further gains. Investors with a medium-term horizon may find this stock appealing based on these technical signals.
IFCI: Alligator Breakout and Retest Confirmation for Uptrend
Buy Range: ₹56–₹50 | Stop Loss: ₹46 (closing basis) | Target: ₹63.5 & ₹67 (1–3 months)
IFCI has also shown a promising technical pattern, closing decisively above the Williams Alligator indicator and successfully completing a retest of the breakout zone. This retest confirmation strengthens the bullish structure and indicates the continuation of an emerging uptrend, making it a noteworthy pick for today's trading session.
The DMI has turned positive, with the +DI above the −DI, signaling that buyers are in control and directional momentum is favoring the upside. Additionally, the MACD is sustaining above the zero line, further supporting positive trend momentum and enhancing the likelihood of further upward movement.
The alignment of price breakout, retest confirmation, and bullish indicators points to a constructive medium-term setup with a favorable risk-reward ratio. Traders should consider these factors when evaluating entry points and managing positions.
Disclaimer: Recommendations and views on the stock market, other asset classes, or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India or its affiliates. Investors are advised to conduct their own research and consult with financial advisors before making any investment decisions.
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