Jio Financial, Tata Steel, Hindalco & IRFC shares: Poised for a technical takeoff?

Sebi-registered analyst Mitesh Panchal remains optimistic about the metal index, suggesting that a move beyond the 9,400 mark would signal a decisive breakout. Among his top picks from the sector are Tata Steel Ltd and Hindalco Industries Ltd, both of which he recommends at current levels.

"For Tata Steel, investors can consider initiating positions with a stop loss at Rs 150 and look for target prices between Rs 165 and Rs 170," Panchal told Business Today on Thursday. "In Hindalco, one may enter at the current price with a stop loss of Rs 650, aiming for targets between Rs 700 and Rs 720."

On Jio Financial Services Ltd, Panchal noted that if the stock closes above Rs 310, it could mark the beginning of a strong upward trend. "Post this breakout, the first upside target would be Rs 345, followed by Rs 400. A stop loss should be kept at Rs 290," he advised.

Commenting on the railway segment, Panchal cautioned investors about heightened volatility. "These stocks can witness sharp swings — both up and down — so unless you have a strong risk appetite, it's best to stay away," he said.

Regarding Indian Railway Finance Corporation (IRFC) Ltd, he remains positive in the near term. "IRFC could potentially move to Rs 155–160 within a week. However, traders must enforce strict stop losses," he added.

Meanwhile, domestic benchmarks extended their upmove for the third straight session today, lifted by easing geopolitical tensions and a continued decline in global crude oil prices.

The positive sentiment was largely driven by a ceasefire between Israel and Iran, which has calmed nerves across global markets. This truce has triggered a risk-on environment, bolstering investor appetite for equities. However, concerns remain about unresolved global trade tensions, particularly with the United States.