Investor optimism has remained solid, with benchmark indices recording gains in 12 of the past 16 sessions. Both Sensex and Nifty 50 have climbed over 10% during this period, driven by strong foreign buying.
Most sectors, especially auto, energy FMCG, and metal, witnessed gains, while banking and financials lagged behind. The Sensex closed 295 points (0.4%) higher at 80,797, while the Nifty 50 advanced 114.45 points (0.47%) to 24,461. The BSE Midcap index jumped 1.45%, and the BSE Smallcap index rose 1.23%.
Three stocks to buy, recommended by NeoTrader’s Raja Venkatraman
Nippon Life India Asset Management Ltd (Cmp: ₹653.20)
Buy above ₹655 and on dips to ₹639; stop ₹629; target ₹705-720
- Why it’s recommended: It remains one of the favorites among brokerage houses and has received a rerating for a buy. With bullish signals emerging, a long opportunity can be considered.
- Key metrics:
- P/E: 31.90
- 52-week high: ₹816.25
- Volume: 325.02k
- Technical analysis: Support at ₹620, resistance at ₹800
- Risk factors: Market volatility and sector-wide fluctuations in asset management performance could impact returns.
- Buy at: CMP and dips to ₹639
- Target price: ₹705-720 in 1 month
- Stop loss: ₹629
Calcutta Electric Supply Corporation (Cmp: ₹164.97)
Buy CMP and on dips to ₹158; stop ₹155; target ₹178-184
- Why it’s recommended: The stock has shown signs of a recovery despite profits declining, with revenue growth and positive management commentary generating demand. After testing key support levels, renewed buying interest and a favorable technical setup, a long opportunity can be considered.
- Key metrics:
- P/E: 15.66
- 52-week high: ₹213
- Volume: 4.09M
- Technical analysis: Support at ₹145, resistance at ₹185
- Risk factors: Market fluctuations, regulatory changes, and sector-specific challenges in the power distribution industry.
- Buy at: CMP and dips to ₹158
- Target price: ₹178-184 in 1 month
- Stop loss: ₹155
JK Tyre & Industries Ltd (Cmp: ₹320.70)
Buy above ₹322 and on dips to ₹305; stop ₹295; target ₹330-345
- Why it’s recommended: JK Tyre is a well-established brand with a reputation for producing high-quality, durable tyres. The company has launched initiatives to expand into the rural areas with a focus on strengthening its last-mile distribution network. Also the charts show the formation of a double bottom and the possibility of a subsequent upward drive.
- Key metrics:
- P/E: 13.5
- 52-week high: ₹511
- Volume: 955.46k
- Technical analysis: Support at ₹243, resistance at ₹395
- Risk factors: Market volatility and fluctuations in raw material costs could impact profitability.
- Buy at: CMP and dips to ₹305
- Target price: ₹330-345 in one month
- Stop loss: ₹295
Best stock recommendations today: Two stock picks by MarketSmith India
Buy: ITC Ltd (current price: ₹437)
● Why it’s recommended: Strong financial performance, growth prospects, market position, and operational efficiency.
● Key metrics: P/E: 26.64; 52-week high: ₹495; volume: ₹502.63 crore
● Technical analysis: Bounced back from its 100-DMA
● Risk factors: Overvaluation concerns, high ESG risk rating
● Buy at: ₹437
● Target price: ₹465 in 3 months
● Stop loss: ₹421
Buy: Jyoti Cnc Automation Ltd (current price: ₹1,165)
● Why it’s recommended: Strong market position in precision engineering, export growth, and global presence.
● Key metrics: P/E: 80.36; 52-week high: ₹ 1,504; volume: ₹69.45 crore
● Technical analysis: Downward sloping trendline breakout and 200-DMA retake
● Risk factors: Margin sensitivity to raw material costs and exposure to cyclical industries
● Buy at: ₹1,165
● Target price: ₹1,400 in 3 months
● Stop loss: ₹1,055
Three stocks to buy today, as recommended by Ankush Bajaj
Buy: Adani Enterprises Ltd (current price: ₹2,455)
Why it’s recommended: Stock has created a double top at the ₹2,480 level, after which some selling was observed. However, it has retested its important level of ₹2,440 and resumed a bullish trend. Daily volumes remain high, and on the daily chart, the stock had formed a double bottom at ₹2,035 and has given a good breakout recently.
Key metrics: Resistance level: ₹2,480 (double top); Support level: ₹2,440 (retest); Pattern: Double bottom breakout at ₹2,035 (daily chart); Volume: High daily volume.
Technical analysis: Price action shows successful retest of key level and resumption of bullish momentum. Volume and double bottom confirmation support further upside.
Risk factors: Sensitive to regulatory news and group-level volatility, especially in the infrastructure and energy sectors.
Buy at: ₹2,455
Target price: ₹2,500-2,530 in 1 week
Stop loss: ₹2,420
Buy: Mahindra & Mahindra (current price: ₹3,021)
Why it’s recommended: On the daily chart, the stock gave a falling wedge breakout at ₹2,700, after which a strong rally followed, pushing the price above ₹3,000. This rally is expected to continue toward ₹3,150 in the short term, as the next supply zone lies around that level. The stock has also broken its 61.8% Fibonacci retracement level, which further confirms the bullish trend.
Key metrics: Breakout level: ₹2,700 (falling wedge breakout); Target zone: ₹3,150 (supply zone); Technical level: Broke 61.8% Fibonacci retracement
Technical analysis: Breakout from bullish falling wedge with follow-through buying. Breach of 61.8% retracement adds conviction to the trend continuation.
Risk factors: Auto sector can be affected by raw material costs, policy changes, and rural demand trends.
Buy at: ₹2,920-2,950
Target price: ₹3,150-3,170 in 1 week
Stop loss: ₹2,945
Buy: Bajaj Finance Ltd (current price: ₹8,932)
Why it’s recommended: Stock has given a bullish pennant breakout on the lower time frame, indicating strong continuation potential. Additionally, the hourly RSI is trending upward and is currently at 55 levels, supporting the bullish momentum.
Key metrics: Pattern: Bullish pennant breakout (lower time frame), RSI: Trending up at 55 (hourly)
Technical analysis: Breakout pattern on intraday chart supported by rising RSI suggests further upside. Structure indicates momentum-driven move toward next resistance zone.
Risk factors: NBFCs are exposed to interest rate changes, credit cycle risk, and macroeconomic conditions.
Buy at: ₹8,932
Target price: ₹9,100-9,140 in 1 week
Stop loss: ₹8,848
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.”
