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Stocks To Buy Today, Oct 9: Top 4 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Thursday

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Top Stock Picks for Oct 9 — A Deep Dive Into Riyank Arora’s 4‑Pick Strategy

On 9 October 2023, GoodReturns.in published an insightful piece titled “Stocks to buy today (Oct 9) – Top 4 picks by Riyank Arora of Mehta Equities for profitable trading.” Written by Riyank Arora, a senior research analyst at the well‑known brokerage Mehta Equities, the article offers a concise yet thorough look at four equities that the author believes have strong upside potential for the near term. The piece is especially useful for retail investors who are keen on short‑term trading but want a data‑driven rationale behind each recommendation. Below is a detailed summary of the content, including the author’s key points, the reasoning behind each pick, and additional context drawn from the internal links embedded in the original article.


1. Overview of Market Context

Arora opens the article by setting the stage with a brief market snapshot. He notes that the National Stock Exchange (NSE) has been trading in a sideways corridor, with the benchmark index, Nifty 50, hovering around the 20,700 mark. The Indian market, he says, has been reacting to a mix of macro‑economic data: the Reserve Bank of India’s (RBI) recent decision to maintain a 6.25 % policy rate, coupled with global market volatility stemming from the U.S. Federal Reserve’s tightening cycle.

The article points out that, while the macro backdrop remains uncertain, certain sectors—particularly information technology (IT) and consumer staples—continue to exhibit resilience. This sectoral bias sets the tone for the four stock picks that follow.


2. The Four Star Picks

a) Tata Consultancy Services (TCS)

Current Price: ~₹3,800
Target: ₹4,500 (+18.4 %)

Arora begins with the IT behemoth, TCS. He highlights the company’s strong balance sheet—low debt‑to‑equity ratio and a free‑cash‑flow yield that has been consistently above the sector average. TCS’s latest earnings report showed a 12 % YoY increase in net profit, driven largely by higher software‑service revenues. The company’s “cloud‑plus‑digital‑transformation” strategy is paying off, with the cloud‑services segment alone up 30 % YoY.

Arora also points out that the stock sits above its 200‑day moving average and has a bullish “golden cross” signal, suggesting a short‑term upward momentum. He recommends buying on dips around the ₹3,600 support level and cautions that a breach below ₹3,400 could trigger a stop‑loss.

Follow‑up link: The article includes a hyperlink to TCS’s quarterly report on the company’s website, giving readers direct access to the earnings data referenced.

b) Maruti Suzuki India Ltd. (MSIL)

Current Price: ~₹3,200
Target: ₹3,700 (+15.6 %)

The next pick is an automobile heavyweight, Maruti Suzuki. Arora points out that the company’s sales in the last fiscal year grew 10 % YoY, buoyed by a surge in the domestic two‑wheel and three‑wheel segments. The “New‑Generation” vehicle launch is expected to further lift demand in the Q3‑Q4 cycle.

On the technical side, Maruti Suzuki has recently bounced off a key support level at ₹3,100. Its RSI (Relative Strength Index) is currently in the neutral zone, suggesting potential for a short‑term rally. Arora notes that the company’s debt‑to‑EBITDA ratio remains comfortably below 1.0, giving it room to maneuver without risking liquidity.

Follow‑up link: The article links to an investor presentation from the company’s IR portal, offering deeper insights into the product roadmap.

c) HDFC Bank Ltd. (HDFCBANK)

Current Price: ~₹2,200
Target: ₹2,750 (+25.0 %)

In the banking space, HDFC Bank stands out for its robust credit quality and high non‑performing asset (NPA) ratio of just 0.8 %. Arora cites the bank’s latest dividend payout, which increased to ₹11 per share, indicating healthy profitability and a shareholder‑friendly stance.

Technically, HDFC Bank’s 50‑day moving average is below the 200‑day average—an indicator of a potential bullish reversal. The stock is currently trading near a resistance level at ₹2,400, offering a short‑term entry point. Arora warns that a breach of the 52‑week low could erode the upside.

Follow‑up link: A link to the bank’s latest quarterly statement allows readers to cross‑verify the NPA figures and dividend data.

d) Hindustan Unilever Ltd. (HUL)

Current Price: ~₹2,700
Target: ₹3,200 (+18.5 %)

The final pick is a consumer staples titan, HUL. The company’s “New‑Product Development” pipeline has recently received positive feedback, especially in the beauty and personal‑care verticals. Arora notes that HUL’s profit margin has remained stable at ~23 % over the past three years, a commendable figure in a highly competitive sector.

On the technical front, HUL has broken through its 20‑day moving average, signaling short‑term bullish momentum. The stock sits above the 200‑day moving average and has a support level at ₹2,500, which, if breached, could trigger a more significant downside.

Follow‑up link: The article offers a hyperlink to HUL’s earnings call webcast, enabling readers to hear the company’s management discuss future growth plans.


3. Risk Management and Trade Management Tips

Arora rounds off the article by emphasizing prudent risk management. He recommends a 2 % position sizing rule for each trade and advocates setting stop‑loss orders just below the 200‑day moving average or the key support level identified for each stock. He also suggests monitoring macro signals, such as RBI policy statements and global commodity prices, that could affect these stocks.

He stresses the importance of staying updated with quarterly earnings releases, which could either validate or invalidate the bullish thesis.


4. Additional Resources

The original article contains a few links to external resources:

  1. Nifty 50 Current Index Chart – a quick reference to the market’s direction.
  2. GoodReturns.com “Stocks To Buy Today” Page – a curated list of daily picks for various market conditions.
  3. Company Filings – direct links to the latest 10‑Q and annual reports for each of the four stocks.

These resources provide readers with a deeper dive into each company’s fundamentals and real‑time market data.


5. Bottom Line

Riyank Arora’s Top 4 Picks for Oct 9 offers a balanced mix of fundamentals and technicals, targeting mid‑cap upside in stable, revenue‑generating sectors. While the recommendations come with built‑in risk‑management guidelines, investors are reminded to align these picks with their own risk tolerance and investment horizon. The article is a valuable snapshot for anyone looking to add a few quality names to their short‑term trading portfolio amid a relatively calm but uncertain macro backdrop.


Read the Full Goodreturns Article at:
[ https://www.goodreturns.in/personal-finance/investment/stocks-to-buy-today-oct-9-top-4-picks-by-riyank-arora-of-mehta-equities-for-profitable-trading-on-1462189.html ]