MRPL, CHENNPETRO & RRKABEL: Mehul Kothari's Top Stock Picks for September 30, 2026

Mehul Kothari, DVP of Technical Research at Anand Rathi Shares, has recommended Mangalore Refinery And Petrochemicals Ltd (MRPL), Chennai Petroleum Corporation Ltd, and R R Kabel as top stocks to invest in on September 30, 2026. According to Kothari, the stocks are showing positive technical indicators, with price action sustaining above key moving averages and momentum remaining supportive.

MRPL is sustaining above the 10-, 20-, and 200-day moving averages, indicating a positive price trend across key moving averages. A positive reversal on the daily relative strength index (RSI) further supports the bullish setup. On the hourly timeframe, RSI is holding within the bullish range, indicating that momentum remains supportive and corrections are finding buying interest.

Invest in Mangalore Refinery And Petrochemicals Ltd between Rs 172-168 | Stop Loss: Rs 162 | Target: Rs 186.

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Invest in Chennai Petroleum Corporation Ltd between Rs 1,440-1,420 | Stop Loss: Rs 1,360 | Target: Rs 1,530.

Invest in R R Kabel between Rs 2,535-2,515 | Stop Loss: Rs 2,440 | Target: Rs 2,675.

Market analysts at MRPL are observing a significant shift in sentiment, suggesting a reversal of the daily trend. The hourly chart reveals a strengthening of momentum, as the Relative Strength Index (RSI) rises, bolstering the case for a near-term uptick. The stock's price action continues to outperform the 10- and 20-day moving averages, underscoring a supportive short-term trend.

RRKABEL is showing a positive technical setup. With price action sustaining above the 10- and 20-day moving averages on both daily and hourly timeframes, indicating continued short-term trend strength.

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As of now, RSI is displaying remarkable resilience, defying the risk of entering oversold territory, which would signal a loss of momentum. Investors may find the current price range of Rs 2,535 to Rs 2,515 appealing. With a recommended stop-loss at Rs 2,440 and a potential upside of Rs 2,675.

Key indicators suggest that MRPL and RRKABEL are poised for further gains. Driven by their sustained performance above key moving averages and the positive RSI readings. Investors may consider these stocks as part of their investment portfolio, keeping in mind the recommended stop-loss and target prices.

Investors should conduct their own research and analysis before making any investment decisions. The views expressed by Mehul Kothari are for informational purposes only and should not be considered as investment advice.