Three stocks to buy today: Ankush Bajaj’s top recommendations for 15 December
Buy: Hindalco Industries Ltd
Why it’s recommended: Hindalco is maintaining a strong uptrend with steadily higher highs and higher lows, supported by continued strength in the metals sector. The stock is witnessing sustained accumulation after a decisive breakout. The daily RSI at 67 reflects strong bullish momentum without entering extreme overbought territory. The MACD at +9 confirms a positive crossover and continuation of the upward trend, while the ADX at 17 indicates an early but improving trend structure. Price action remains firmly above key short-term moving averages, highlighting growing investor confidence.
Key metrics: RSI (14-day): 67 — bullish momentum intact
MACD (12,26): +9 — positive crossover, trend continuation
ADX (14): 17 — early-stage trend strengthening
Technical view: Sustaining above ₹837 will keep the bullish bias intact, opening room for a move toward ₹880 in the near term.
Risk factors: Sensitive to global aluminum, prices and demand trends. Any sharp correction in commodity markets may lead to short-term volatility.
Buy at: ₹852.10
Target price: ₹880
Stop loss: ₹837
Buy: Vedanta Ltd (VEDL)
Why it’s recommended: Vedanta is showing a steady recovery with improving momentum, supported by strength across the metal and mining space. The stock has formed a strong base above recent support levels and is attracting fresh buying interest. The daily RSI at 64 reflects healthy bullish momentum, while the MACD at +7 confirms a positive crossover and trend continuation. The ADX at 22 indicates a strengthening trend, suggesting scope for further upside as momentum builds.
Key metrics: RSI (14-day): 64 — positive bullish momentum
MACD (12,26): +7 — bullish crossover intact
ADX (14): 22 — trend gaining strength
Technical view: Holding above ₹535 will maintain the positive bias, with upside potential toward ₹560 in the near term.
Risk factors: Exposed to fluctuations in global metal prices and regulatory developments related to mining and energy businesses.
Buy at: ₹543.60
Target price: ₹560
Stop loss: ₹535
Buy: Hindustan Zinc Ltd
Why it’s recommended: Hindustan Zinc is displaying exceptional strength with a powerful bullish continuation after breaking above key resistance levels. The stock is firmly in a strong uptrend, supported by aggressive accumulation. The daily RSI at 75indicates strong momentum, typical of trending stocks. The MACD at +12 confirms sustained bullish momentum, while the ADX at 23 signals a strengthening trend structure. Price action remains well above short-term averages, reinforcing the positive outlook.
Key metrics: RSI (14-day): 75 — strong bullish momentum
MACD (12,26): +12 — bullish continuation
ADX (14): 23 — trend strengthening
Technical view: As long as the stock sustains above ₹542, the bullish structure remains intact, with scope for a move toward ₹599.
Risk factors: Vulnerable to volatility in global zinc prices and changes in export or royalty-related regulations.
Buy at: ₹561.65
Target price: ₹599
Stop loss: ₹542
Stock-market update
On the sectoral front, the metal sector emerged as one of the best performers, riding higher commodity prices and strong buying interest from domestic and institutional participants. The realty index also advanced, benefiting from persistent flow into rate‑sensitive sectors following recent macro cues.
In addition, consumer durables showed strong gains as select consumption names rallied on positive technical setups and rotational buying. By contrast, the FMCG sector underperformed and ended lower amid profit booking in marquee defensive names. The media index was another weak spot, declining as investors rotated out of discretionary segments. The PSU Bank Index also lagged, with select public sector lenders trimming earlier gains.
Among individual stocks, Tata Steel stood out as a top performer, rallying sharply on renewed interest in metals and strong technical breakouts. Shriram Finance also outperformed peers, driven by strong flows into financials and improving risk sentiment around credit names. Hindustan Zinc added to the gainers list, benefiting from both sectoral momentum and positive commodity cues. On the flip side, defensive counters such as Hindustan Unilever saw significant pressure and emerged among the worst performers on heavy profit booking. Trent, a key retail play, also ended lower as discretionary demand cooled. Sun Pharma lagged, with profit-taking weighing on the broader pharma complex.
Nifty technical outlook
The Nifty 50 ended Friday’s session on a firm note, closing 148.40 points higher at 26,047, up 0.57%, maintaining its position above key short-term moving averages. From a broader trend perspective, the index continues to hold a bullish structure, although several momentum indicators are still flashing neutral to mild divergence, suggesting the market may consolidate before attempting a stronger breakout.
Daily technical view:
On the daily chart, the Nifty is now trading just above its 20-day simple moving average (SMA) at 26,031 and comfortably above the 40-day exponential moving average (DEMA) at 25,823, highlighting short-term strength. However, the Relative Strength Index (RSI) at 54.40 indicates neutral momentum, while the MACD remains positive at 51.18 but continues to show a ‘Sell’ signal due to a flattening histogram. Other indicators like the Stochastic %K (31.13), CCI (–8.94), and Ultimate Oscillator (55.19) also suggest the lack of strong directional conviction. Despite this, the Momentum (10) reading at –156.00 has turned into a Buy, and Bull-Bear Power at +41.32 reinforces a slightly bullish undertone. These mixed signals imply that the index is likely to stay range-bound until stronger buying volume or macro triggers emerge.
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Hourly (intraday) technical view:
On the hourly timeframe, the index is trading above the 20-hour and 40-hour moving averages, currently placed at 25,896 and 25,950, respectively. The hourly RSI is at 60, reflecting healthy intraday strength, and the MACD has moved back into positive territory at +25, indicating improving momentum in the short term. However, the Awesome Oscillator at –20.33 and Stochastic RSI Fast at 26.42 are still neutral to negative, which may cap any sharp upside in the absence of fresh catalysts. Overall, the intraday setup is constructive but not overly aggressive.
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Derivatives and option data analysis:
The latest option open interest (OI) data presents a bullish undertone. The Put OI stands at 182.5 million, which is significantly higher than the Call OI of 160.1 million, giving a PE-CE differential of +22.4 million—a structurally bullish signal. Moreover, the change in OI further confirms this strength: Put OI rose by 47.5 million, while Call OI increased only by 266,000, resulting in a net bullish shift of +47.3 million in favour of puts. This reinforces trader confidence in support holding near 26,000.
The 26,000 strike continues to hold the maximum Put OI and also saw the highest Put OI addition, making it a strong support base for the current series. On the Call side, while 26,500 holds the highest OI, the 26,050 strike saw the highest addition, suggesting that option writers are positioning for a move toward 26,100-26,200, while keeping a ceiling at 26,500.
Summary and outlook:
The Nifty remains in a mildly bullish consolidation phase, with strong derivatives support around 26,000. As long as the index sustains above this level, the bias remains positive. Resistance is seen near 26,150-26,200, and a break above this zone could open room for a rally toward 26,400-26,500. On the flip side, any dip below 25,900 may trigger mild profit-booking but is unlikely to alter the medium-term trend unless 25,800 is breached decisively. The OI build-up, hourly momentum, and strong Put base all suggest that bulls continue to hold the advantage heading into the next week.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Investments in securities are subject to market risks. Read all the related documents carefully before investing.
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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.
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