Top Stock Picks for July 17: Tata Power, ITC, LIC Housing Finance

Religare Broking analysts recommend maintaining a cautious stance and focus on stock selection. Tata Power, ITC, and LIC Housing Finance are among the top stocks to buy. Selective stocks from the power sector are witnessing noticeable buying interest, while Tata Power has been rising steadily since ending its corrective phase in April. The FMCG sector is regaining traction, and ITC is showing a gradual recovery after retesting the support zone.

Religare Broking analysts have advised investors to maintain a cautious stance and focus on stock selection. According to the latest market insights, Tata Power, ITC, and LIC Housing Finance are among the top stocks to buy. The power sector has witnessed notable buying interest, with Tata Power demonstrating steady growth since concluding its corrective phase in April. Meanwhile, the FMCG sector is regaining traction, and ITC is showing gradual recovery after retesting its support zone.

Tata Power shares have been trading within a well-defined rising channel pattern since February 2025, currently hovering near its 20- and 50-day EMAs, indicating a crucial support zone [2]. The stock has been consolidating above long-term moving averages for nearly three months, forming a solid technical base [2]. Despite recent sideways movement, the stock remains aligned with the middle Bollinger Band, with the rising lower band offering cushion on dips [2]. A decisive move above Rs 407 could open upside potential toward the Rs 418–Rs 425 zone [2].

ITC, on the other hand, has been showing a gradual recovery after retesting its support zone. The stock is currently forming a bullish elevated base pattern near its all-time highs, supported by strong volumes [2]. This pattern indicates that ITC is poised for further upside, with a target of Rs 795 set by Religare Broking [2].

LIC Housing Finance Ltd has also been recommended for near-term gains by Religare Broking. The stock has been consolidating above long-term moving averages for nearly three months, forming a solid technical base [2]. Religare Broking recommends a 'Buy' on LIC Housing with a target price of Rs 665 and a stop-loss at Rs 597 [2].

Overall, the market remains rangebound with mixed cues, and sectoral performance remains mixed. While the Nifty index is trading around the 25,250 level, the broader indices have paused after a two-day rally and closed flat [4]. A decisive close above the 20-day EMA could open the door for further recovery, but until then, investors should adopt a selective approach and focus on individual stock performance [4].

References:
[1] https://www.businesstoday.in/markets/stocks/story/tata-power-shares-multibagger-stock-in-consolidation-mode-buy-sell-or-hold-484836-2025-07-16
[2] https://www.businesstoday.in/markets/stocks/story/lic-housing-hero-motocorp-marico-may-see-short-term-upside-religare-broking-484747-2025-07-15
[3] https://www.business-standard.com/companies/news/burman-family-leads-1500-cr-fund-infusion-in-religare-125071101323_1.html
[4] https://www.business-standard.com/markets/news/stocks-to-buy-today-july-17-tata-power-itc-among-analyst-top-picks-125071700079_1.html