Dhanteras 2024: As Samvat 2081 is about to begin, stock market investors are busy scanning stocks to buy for the long term. As the nation celebrates Dhanteras 2024some investors could find it a good opportunity to invest for the long term. The opportunity becomes ideal since Indian stock market has recently been heavily patched and many quality titles are now available at reduced levels. To make things easier for Mehta Equities, he recommended buying 21 shares of this Dhanteras for the long term. These 21 stocks include State Bank of India (SBI), ITC, Tata Power, Suzlon Energy, Paytm, SAIL, Ola Electric, LT, SpiceJet, etc.

Stocks to buy for the long term

Here we list all the details regarding 21 stock picks by the brokerage:

1) SBI: Major support lies at 700, with an accumulation zone between ₹780 and ₹800. Resistance around ₹912 may lead to some consolidation, but the objectives of ₹1000 and beyond remain within reach. The MACD and RSI on the daily time frame indicate solid bullish momentum, supporting a positive outlook.

2) CCI: Immediate support is at 475, with significant support at ₹400 and an accumulation zone between ₹460 and ₹480. Resistance around ₹550 could lead to gains towards ₹650 and more. The stock is showing oversold RSI conditions daily, suggesting a potential buildup of momentum from lower levels for further upward movement.

3) LT: Immediate support lies in ₹3000, with an accumulation zone between ₹3400 and ₹3,500. Resistance at 4,000 may limit near-term gains, but the stock has potential targets of ₹5000 and more. The MACD and stochastics on the daily time frame show strong signals for a continued bullish rally.

4) Tata Power: The major support is ₹350, with accumulation possibilities between ₹400 and ₹420. Near resistance ₹500 could cap short-term gains, but targets for ₹600 and beyond are achievable. The RSI and MACD on the daily timeframe are showing bullish signals, with increasing volume confirming the trend.

5) Godrej Consumer Products: The title benefits from immediate support at ₹11:00 a.m., with recommended accumulation between ₹1250 and ₹1300. Resistance around ₹1600 could act as a barrier, but the stock has the potential to reach ₹2000 and beyond. A bullish crossover in the MACD on the daily timeframe supports the possibility of further upside.

6) Suzlon Energy: Support lies in ₹66, with accumulation opportunities between ₹70 and ₹75. Resistance around 86 could be tested soon, with ₹133 and up. The MACD on the daily time frame indicates positive momentum, and with an oversold RSI, the stock appears poised for a breakout.

7) JSW Infrastructure: The title benefits from significant support at ₹235, with an immediate support zone between ₹260 and ₹270. A good accumulation can be made in the ₹250 to ₹275 range. Resistance around 360 can present challenges, but the title is still aiming ₹500 and more. A bullish crossover in the MACD on the daily timeframe and a rising RSI indicate the potential for further upward movement.

8) SAILING: Steel Authority of India Limited enjoys significant support in ₹90, with an accumulation zone between ₹95 and ₹105. Near resistance ₹140 may offer short-term challenges, but the title’s goals ₹160 and beyond. The RSI on the daily time frame shows bullish strength and rising volumes indicate increasing interest, suggesting upward momentum.

9) Payment: PAYTM finds strong support among ₹550, with a privileged accumulation between ₹650 and ₹700. Resistance to ₹800 could slow the progression, but the stock is well positioned to reach ₹1000 and beyond. The RSI on the daily time frame is increasing, indicating increased bullish sentiment, while the MACD confirms a positive momentum shift.

10) Ola Electric Mobility: Support lies in ₹70, accumulating between ₹80 and ₹90. Near resistance ₹160 could slow the advance, but the stock could target ₹200 and more. The RSI on the daily time frame shows oversold conditions, while the MACD indicates continued strength in a trend reversal from lower levels.

11) LG Balakrishnan and brothers: Immediate support lies in ₹1100, with an accumulation zone between ₹1200 and ₹1250. Resistance to ₹1700 could limit short-term gains, but targets for ₹2000 and beyond remain achievable. Stochastic indicators on the daily time frame are signaling oversold conditions, suggesting the potential for a significant reversal soon.

12) Imaginaaworld Entertainment: The title finds immediate support at ₹66.50, while the accumulation is ideal between ₹70 and ₹75. Resistance around 105 could serve as a short-term ceiling, but if broken, Imagicaaworld has the potential to move towards ₹150 and more. A MACD crossover on the daily timeframe indicates a bullish pattern with increasing momentum.

13) Morepen Laboratories: Major support is to ₹65 years, with a recommended accumulation between ₹75 and ₹80. Resistance around ₹101 might be a challenge, but ₹The targets of 150 and beyond remain achievable. The RSI on the daily time frame points to a potential breakout, while the MACD confirms a positive momentum shift.

14) SpiceJet: With immediate support to ₹45, the accumulation zone between ₹57 and ₹62 is a good entry point. Near resistance ₹80 could slow the stock’s progress, but with bullish volume growth and the RSI on the daily chart showing signs of reversal from lower levels, the stock could rebound to ₹100 and more in the medium term.

15) TVS Supply Chain Solutions: Immediate assistance to ₹170, an important support to ₹140 and an accumulation zone between ₹180 and ₹190. Near resistance ₹260 may create obstacles in the short term, but ₹Goals of 300 and above are within reach. The MACD on the daily time frame indicates a strengthening trend and the rising RSI confirms a bullish reversal.

16) Suntech Real Estate: Major support is to ₹450, with recommended accumulation between ₹500 and ₹520. Resistance around ₹700 could lead to gains of up to ₹1000 and beyond. The RSI on the daily time frame is moving in bullish territory, but caution is advised during any pullback towards support levels for better entry points.

17) Lemon Tree Hotels: Immediate support is ₹100, with accumulation opportunities between ₹108 and ₹115. The stock faces near resistance ₹160, but ₹Targets of 225 and beyond are plausible. The MACD on the daily time frame has turned bullish, indicating an upward trajectory, while the RSI shows increasing strength.

18) Usha Martin: With the support of ₹385, accumulation between ₹400 and ₹425 presents a strong buying opportunity. Near resistance ₹451 could lead to consolidation in the short term, but the stock could rebound towards ₹600 and more. The RSI on the daily time frame suggests building strength and positioning the stock for a breakout.

19) Pellets India: With immediate support to ₹530 and an accumulation zone between ₹540 and ₹560, Granules India is positioned for a potential rally. Near resistance ₹720 could serve as a near-term hurdle, but the stock could be aiming ₹1000 and more if exceeded. The rising RSI on the daily time frame suggests increasing bullish momentum and a strengthening trend.

20) Pirate companies: Immediate support is being put in place to ₹900, with recommended accumulation between ₹1000 and ₹1050. Near resistance ₹1140 could be a short-term ceiling, but the targets of ₹1650 and more remain within reach. RSI fluctuations on the daily timeframe signal an uptrend, supported by increasing volume, supporting a positive outlook.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the opinions of Mint. We advise investors to seek advice from certified experts before making any investment decisions.