The market opened on a positive note with a gap-up, but early optimism faded quickly as geopolitical concerns took hold, triggering a sharp sell-off in the first half of the session. The spike in India VIX reflected rising investor nervousness.
Unlike recent sessions that saw late-day recoveries, Tuesday’s action remained subdued after the initial fall. Indices moved sideways through midday with no meaningful bounce, as selling pressure persisted across key sectors and broader market sentiment remained weak.
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The Nifty 50 closed 81.55 points lower (0.33%) at 24,379.60, while the BSE Sensex declined 155.77 points (0.19%) to settle at 80,641.07. The Bank Nifty underperformed, shedding 648.10 points (1.18%) to end at 54,271.40 amid heavy selling in banking stocks.
Top three stocks to buy today, recommended by Ankush Bajaj:
Buy: Max Healthacre Ltd (current price: ₹1,156)
Why it’s recommended: Stock has closed above ₹1145 which was a key resistance level on the daily chart. This breakout signals a shift in momentum. Price action confirms strength with bullish candlesticks and consistent volumes during the move. RSI is also trending upward, showing improving momentum.
Key metrics: Resistance level: ₹1,145 (breakout level), Support level: ₹1,128 (recent swing low), Pattern: Horizontal resistance breakout on daily chart, Volume: Healthy and increasing
Technical analysis: Price action confirms a breakout with follow-through buying and strong daily close above resistance. RSI is rising, validating the bullish setup. Previous resistance now acts as a support.
Risk factors: Healthcare sector stocks may react to policy or regulatory news. If the stock fails to hold above ₹1,145, breakout might get invalidated.
Buy at: ₹1,156
Target price: ₹1,200– ₹1,220 in 1 week
Stop loss: ₹1,128
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Buy: HDFC Life (current price: ₹722.60)
Why it’s recommended: Stock is in a strong uptrend, characterized by a sequence of higher highs and higher lows. The stock recently broke out of a consolidation range around ₹720– ₹735 with a big surge in price. This breakout was confirmed by heavy volume, reflecting genuine buying interest from the market.
Key metrics: Resistance level: ₹735 (upper end of previous range), Support level: ₹690 (swing support), Pattern: Consolidation breakout, Volume: High breakout volume
Technical analysis: Price action confirms breakout with strong follow-through. RSI is in bullish zone, and stock is trading above key moving averages, further supporting the uptrend.
Risk factors: Broader market weakness or reversal could impact performance. If price falls below ₹690, breakout could be invalidated.
Buy at: ₹722.60
Target price: ₹775– ₹790 in 1 week
Stop loss: ₹690
Buy: Apollo Tyre Ltd (current price: ₹482.85)
Why it’s recommended: Apollo Tyres has broken out above a major resistance (~ ₹440) formed by a double bottom pattern. This pattern breakout signals a trend reversal to the upside. The stock is now trading above key moving averages, reflecting renewed upward momentum. The RSI momentum indicator has rebounded from the 60 level and now resides in bullish territory, confirming strengthening momentum.
Key metrics: Resistance level: ₹440 (double bottom breakout), Support level: ₹468 (near-term swing low), Pattern: Double bottom breakout, Volume: Strong volume during breakout
Technical analysis: Price action confirms trend reversal with breakout above neckline. Sustained closing above moving averages with bullish RSI supports further upside.
Risk factors: Sector rotation or market-wide correction may affect short-term trend. Breakdown below ₹468 may invalidate setup.
Buy at: ₹482.85
Target price: ₹505– ₹510 in 1 week
Stop loss: ₹468
Two stock recommendations by MarketSmith India:
Buy: Hindustan Unilever Ltd. (current price: ₹ 2,381.8)
Why it’s recommended: Resilient business model with strong brand portfolio, strategic initiatives, and future outlook
Key metrics: P/E: 52.82, 52-week high: ₹ 3,035.00, volume: ₹448.16 crore
Technical analysis: Bounced back from its 100-DMA
Risk factors: Slower rural demand recovery, high valuation
Buy at: ₹ 2,381.8
Target price: ₹ 2,590 in three months
Stop loss: ₹ 2,290
Why it’s recommended: Strategic capacity expansion and robust financial performance
Key metrics: P/E: 61.30, 52-week high: ₹ 743, volume: ₹ 113.46 crore
Technical analysis: Horizontal trendline breakout
Risk factors: Dependence on key geographies
Buy at: ₹ 687
Target price: ₹ 845 in three months
Stop loss: ₹ 625
Three stocks to trade today, recommended by NeoTrader’s Raja Venkatraman:
Voltas (current price ₹1,227.20)
Sell below ₹1,222 and rallies to ₹1,250, stop ₹1,265, target ₹1,125-1,090
Why it’s recommended: Voltas stock has been weakening due to a combination of factors, including concerns about the company’s engineering, manufacturing, and project services segment, mixed performance in Q3 and Q4, and cautious outlooks from peers such as Havells India. The EMPS segment has faced setbacks such as execution delays, cost escalations and legal disputes, impacting profitability.
Key metrics:
P/E: 59
52-week high: ₹1946.20
Volume: 1.2M
Technical analysis: Support at ₹1,100, resistance at ₹1,325
Risk factors: High volatility, negative investor sentiment and long-term bearish trends.
Sell at: CMP and rally to ₹1,250
Target price: ₹1,125-1,090 in one month.
Stop loss: ₹1,265
JSW ENERGY (current price ₹466)
Sell at CMP and rallies to ₹481, stop ₹490, target ₹440-425
Why it’s recommended: JSW Energy’s stock price decline can be attributed to a combination of factors, including a drop in profit after tax, a decline in revenue, and a bearish trend indicated by trading below moving averages. These factors, coupled with mixed market sentiment, have contributed to a broader negative outlook for the stock.
Key metrics:
P/E: 15.66
52-week high: ₹213
Volume: 4.89M
Technical analysis: Support at ₹431, resistance at ₹610
Risk factors: Market fluctuations, regulatory changes, and sector-specific challenges in the power distribution industry.
Sell at: CMP and rally to ₹481
Target price: ₹440-425 in one month
Stop loss: ₹490
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KEI Industries Ltd (current price ₹3,193.90)
Buy above ₹3,210 and dips to ₹3,150, stop ₹3,130 target ₹3,330-3,450
Why it’s recommended: Goldman Sachs recently upgraded KEI Industries to a ‘buy’, marking the first time it has taken a bullish stance on the stock since initiating coverage in November 2023. Also, the charts indicate the formation of a V-shaped recovery.
Key metrics:
P/E: 45.39
52-week high: ₹5040
Volume: 1.03M
Technical analysis: Support at ₹2,800, resistance at ₹3,400
Risk factors: Raw material volatility and competition from domestic players could impact profitability.
Buy at: CMP and dips to ₹3,150.
Target price: ₹3,330-3,450 in one month
Stop loss: ₹3,130
Also Read: Shareholding moves in Q4: Did retail investors’ small-cap love fizzle out?
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.”
