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News for India > Business > Top three stocks to buy today—recommended by Ankush Bajaj for 23 July
Business

Top three stocks to buy today—recommended by Ankush Bajaj for 23 July

Last updated: July 23, 2025 5:45 am
2 weeks ago
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Contents
Top three stocks recommended by Ankush Bajaj for 23 July:Key metricsKey metricsKey metricsMarket wrapNifty technical analysis—daily and hourly

Top three stocks recommended by Ankush Bajaj for 23 July:

ONE 97 COMMUNICATIONS LTD—Current price: ₹1,051.05

Why it’s recommended: ONE 97 COMMUNICATIONS LTD has given a rectangle breakout at the ₹1,050 level on the daily chart, indicating a shift from consolidation to an upward trend. On lower timeframes, the MACD is at 15.75, reflecting strong bullish momentum and increasing buyer interest. The breakout is accompanied by positive price action and volume confirmation, enhancing the probability of a continued up-move.

Key metrics

Breakout zone: Rectangle breakout on daily chart around ₹1,050

Pattern: Range breakout with bullish strength on lower timeframe

MACD: Positive at 15.75, showing rising momentum

Volume: Supporting the breakout, indicating conviction

Technical analysis: With the breakout confirmed and momentum building up, the stock shows potential to rally toward the ₹1,095-1,105 zone in the near term.

Risk factors: A close below ₹1,030 will invalidate the breakout and may signal short-term weakness. A disciplined stop-loss at ₹1,030 is recommended.

Buy at: ₹1,051.05

Target price: ₹1,095–1,105

Stop loss: ₹1,030.00

DALMIA BHARAT LTD—Current price: ₹2,320.20

Why it’s recommended: DALMIA BHARAT LTD has shown strong bullish behaviour backed by technical momentum. The RSI is at 73, indicating strong buying interest, while the MACD at 40.75 signals sustained upward momentum. On lower timeframes, the stock has broken out from a triangle pattern, confirming the beginning of a new leg higher.

Key metrics

Breakout zone: Triangle breakout on lower timeframes

Pattern: Triangle breakout with strength

RSI: Strong at 73, indicating bullish pressure

MACD: Positive at 40.75, highlighting upward momentum

Technical analysis: With a confirmed breakout and momentum support, DALMIA BHARAT is likely to head toward ₹2,400–2,420 in the short term.

Risk factors: A close below ₹2,280 may invalidate the bullish setup. Keep a firm stop-loss at ₹2,280.

Buy at: ₹2,320.20

Target price: ₹2,400–2,420

Stop loss: ₹2,280.00

UPL LTD—Current price: ₹722.85

Why it’s recommended: UPL LTD has broken out of a triangle pattern on the daily chart, signalling a bullish continuation. The RSI at 72 indicates sustained buying strength, and the MACD at 14.28 confirms rising momentum. This alignment of pattern and indicators makes the case for an upside rally compelling.

Key metrics

Breakout zone: Triangle breakout on daily chart

Pattern: Bullish triangle breakout

RSI: High at 72, showing consistent buying interest

MACD: Positive at 14.28, signaling strong upward push

Technical analysis: With a well-formed pattern and solid indicator alignment, the stock is likely to head toward ₹800 in the near term.

Risk factors: A close below ₹684 would invalidate the bullish view. A protective stop-loss is essential at ₹684.

Buy at: ₹722.85

Target price: ₹800.00

Stop loss: ₹684.00

Market wrap

The Nifty 50 slipped slightly by 29.80 points or 0.12%, closing at 25,060.90, while the BSE Sensex edged down by just 13.53 points or 0.02%, ending at 82,186.81. The Nifty Bank also eased by 196.75 points or 0.35% to settle at 56,756.00, despite some pockets of buying in financial counters during intraday trade.

Sector-wise, the action remained stock- and theme-specific. PSU banks declined 1.57%, the Realty sector dipped 1.01%, and the Pharma sector slipped 1.00%, indicating a mild bout of profit-taking. On the other hand, strong interest continued in defensive and consumption-led themes. The consumption index gained 0.46%, the services sector rose 0.23%, and the finance index climbed 0.01%, helping cushion the broader market.

On the stock front, Eternal stood out with an impressive 10.34% rally, while HDFC Life Insurance and Hindalco added 1.46% and 1.15% respectively, supported by positive institutional sentiment and stability in the financial and metals space.

Conversely, Shriram Finance (-2.36%), Eicher Motors (-2.13%), and Jio Financial (-2.03%) faced selling pressure, showing signs of rotation away from recent outperformers.

Nifty technical analysis—daily and hourly

The Nifty ended Tuesday’s session on a muted note, closing at 25,060.90, down 29.80 points or 0.12%. The index opened on a strong note but gradually lost momentum through the day, ending in negative territory. Despite the intraday weakness, the Nifty managed to hold above the psychological support level of 25,000, reinforcing its role as a crucial near-term base.


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The Nifty managed to hold above the psychological support level of 25,000.

From a technical perspective, the Nifty continues to trade above its 40-day exponential moving average (25,042) but remains below the 20-day simple moving average, which stands at 25,324. This configuration suggests that while the index is holding ground, upside strength remains constrained unless it decisively breaks and sustains above the 20-DMA. On the hourly chart, the index is currently positioned above the 20-hour SMA (25,036) but still below the 40-hour EMA (25,104), indicating consolidation within a narrow range and a lack of clear directional bias in the short term.

The Nifty continues to trade above its 40-day exponential moving average but remains below the 20-day simple moving average.

View Full Image

The Nifty continues to trade above its 40-day exponential moving average but remains below the 20-day simple moving average.

Momentum indicators are showing signs of cooling off. The daily Relative Strength Index (RSI) has eased slightly to 46.65, suggesting a mild loss of strength in the ongoing trend. The hourly RSI also stands at 47, reflecting softening intraday momentum. On the MACD front, the daily MACD has dropped to +14, showing a deceleration in upward momentum, while the hourly MACD remains negative at -9, which reinforces the view that short-term trend strength is lacking.

In the derivatives space, the options data continues to paint a bearish picture. Total Call open interest stands at 168.7 million, significantly higher than the total Put OI of 119.1 million, resulting in a net difference of –49.6 million. This skew in favour of Calls indicates overhead supply and suggests limited room for upside unless fresh buying emerges. The Put-Call Ratio (PCR) remains low at 0.71, reflecting continued caution among traders.

Looking at strike-wise data, the highest Call OI lies at the 25,100 level, with fresh additions at 25,200, both of which are now key resistance levels to watch. On the Put side, the highest OI is parked at 25,000, with fresh writing seen at the 25,050 strike, signalling that traders expect the index to hold above these levels. However, the change in OI is notably skewed, with Call OI rising by 35.9 million and Put OI increasing by just 5.254 million, resulting in a net change of –30.7 million—a clear indication that bearish sentiment has intensified in the near term.

India VIX remained largely unchanged, keeping volatility expectations low and supporting a wait-and-watch stance among participants.

In summary, while Nifty has managed to defend the 25,000 mark, the inability to cross above the key resistance zone of 25,100-25,324 is keeping the broader structure neutral with a slight bearish tilt. The immediate support lies in the 25,000-24,950 zone, and a breach below this could attract fresh selling pressure, dragging the index towards 24,700. On the upside, a sustained move above 25,324 will be necessary to reinstate bullish momentum. Until then, traders are advised to remain cautious and avoid aggressive long positions in the absence of a clear breakout.

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.

Registration granted by Sebi and certification from NISM in no way guarantee 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.



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