Stock market recommendations for April 29, 2026: Mehul Kothari, DVP - Technical Research at Anand Rathi Shares, has identified Jio Financial Services Ltd, Hindustan Zinc Ltd, and PVR INOX Ltd as the top stock picks for the day. Below are the detailed technical analyses and trading strategies for each stock.
Jio Financial Services Ltd – Base Formation with Reversal Structure
Buy: ₹255–₹250 | Stop Loss: ₹235 | Target: ₹280
Jio Financial Services has recently formed a strong base near the 78.6% retracement zone, indicating buying interest at lower levels. An inverse Head & Shoulders pattern is also visible on the chart, supported by a neckline breakout, which signals a potential bullish reversal. In addition, the Relative Strength Index (RSI) is trading above the 50 mark, suggesting improving momentum and scope for further upside. Overall, the technical structure remains positive, and sustained strength above the breakout zone may lead to the next leg of the rally in the near term.
Hindustan Zinc Ltd – Breakout with Trend Continuation Strength
Buy: ₹630–₹615 | Stop Loss: ₹570 | Target: ₹700
Hindustan Zinc witnessed a breakout above ₹610 in the previous trading session after a phase of consolidation just above its 50-day Exponential Moving Average (DEMA), indicating strength in trend continuation. The breakout suggests renewed buying interest after a healthy pause. RSI is trading above the 60 mark, reflecting positive momentum, while the Directional Movement Index (DMI) indicator remains supportive with a bullish bias. Overall, the technical setup appears constructive, and sustained trading above the breakout zone could lead to further upside in the near term.
PVR INOX Ltd – Long-Term Base Formation Near Key Retracement
Buy: ₹1020–₹1000 | Stop Loss: ₹920 | Target: ₹1180
PVR INOX is showing signs of a strong base formation, having created multiple bottoms in the ₹950–₹900 zone over the past year, indicating consistent buying interest emerging at lower levels. Importantly, the current base is developing near the 88.6% Fibonacci retracement of the entire rally from the COVID low, a zone often considered significant for potential reversals in technical analysis. The overall price structure suggests downside may be limited, while sustained strength from this support area could trigger a gradual recovery in the coming sessions.
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.
About the Author: The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
