On Friday, the Nifty 50 traded with increased volatility but managed to hold above 24,300 points, maintaining its broader uptrend. Despite sharp intraday fluctuations the index remained resilient, reflecting underlying bullish sentiment. Barring Nifty Media and IT, all major sectoral indices closed in the red, with consumer durables, metal, pharma, and realty the biggest losers.
Top three stocks to buy today, recommended by Ankush Bajaj
ADANI PORTS (Current price: ₹1,267)
Why it’s recommended: The stock has given a good breakout and was able to close above the important level of ₹1,260. Also, on the hourly chart, the stock has given a bullish pennant breakout with RSI showing bullish momentum.
Key metrics
Breakout level: ₹1,260 | Pattern: Bullish pennant breakout (hourly chart) | RSI: Bullish momentum
Technical analysis: Price action confirms a breakout with strength above key levels. RSI supports the potential for further upside.
Risk factors: The ports sector is sensitive to global trade cycles, government regulations, and freight rate volatility.
Buy at: ₹1,267 | Target price: ₹1,285-1,295 in 1-3 days | Stop loss: ₹1,255
RELIANCE INDUSTRIES (Current price: ₹1,422)
Why it’s recommended: On the daily chart, considering the recent high of ₹1,609 and recent low of ₹1,115, the stock has closed above the 61.80% Fibonacci retracement level, which is a strong bullish signal. Additionally, on the lower timeframe, a bullish pennant breakout is visible, indicating a potential start of a strong upward move.
Key metrics
Fibonacci level: 61.80% ( ₹1,408) | Pattern: Bullish pennant breakout (lower timeframe)
Technical analysis: Closing above the key Fibonacci level confirms strength. The pennant breakout on the lower timeframe adds momentum to the bullish case.
Risk factors: Reliance is a diversified stock and can be impacted by oil prices, telecom sector volatility, and regulatory decisions.
Buy at: ₹1,422 | Target price: ₹1,445-1,465 in 1-3 days | Stop loss: ₹1,408
TUBE INVEST OF INDIA (TIINDIA) (Current price: ₹2,908)
Why it’s recommended: The stock has closed above ₹2,900, which was a recent resistance level. On the lower timeframe, the stock has given a bullish pennant breakout above the ₹2,925 level, indicating the potential for a clean uptrend ahead.
Key metrics
Breakout level: ₹2,925 | Pattern: Bullish pennant breakout (lower timeframe) | Resistance turned support: ₹2,900
Technical analysis: The price closing above key resistance with bullish breakout on lower timeframe signals strength and possible continuation of the uptrend.
Risk factors: Auto ancillary stocks like TIINDIA can be affected by raw material price volatility, auto sector demand, and broader economic trends.
Buy at: ₹2,908 | Target price: ₹2,950-2,970 in 1-3 days | Stop loss: ₹2,874
Two stocks recommended by MarketSmith India
Buy: Eris Lifesciences (Current price: ₹1,493.5)
Why it’s recommended: Strong financial performance, growth prospects, market position, and operational efficiency
Key metrics
P/E: 55.34 | 52-week high: ₹1,593.90 | Volume: ₹69.62 crore
Technical analysis: Bounced back from its 21-EMA
Risk factors: Overvaluation concerns, high ESG risk rating
Target price: ₹1,690 in three months
Buy: DLF (Current price: ₹687)
Why it’s recommended: Surge in luxury residential demand, expansion of rental income portfolio.
Key metrics
P/E: 93.12 | 52-week high: ₹968 | Volume: ₹234.08 crore
Technical analysis: downward sloping trendline breakout
Risk factors: Market concentration in NCR, regulatory, and approval delays
Target price: ₹780 in three months
Best stocks to invest, recommended by NeoTrader’s Raja Venkatraman
ADANI PORTS
With positive triggers emerging one can look to go long above ₹1,270 per share and on any dips towards ₹1,245, with a stop below ₹1,220 for an upside towards ₹1,400-1,450 in next one month.
INDIAN HOTELS
With steady upward drive seen in the last few weeks one can consider going long above ₹805 and on any dips towards ₹780, with a stop below ₹765 for an upside towards ₹885-935 in the next one month.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
MarketSmith India: Trade name: William O’Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.”
