Shares to buy in short term: Mehta Equities' Riyank suggests RIL, Tech Mahindra, Infosys stock to buy in near term
The Nifty 50 index started at 25,129.70, recording an increase of 36.30 points or 0.14%, while the BSE Sensex index climbed to 82,338.94, with a rise of 85.48 points or 0.10%.
The recovery in Indian markets was also supported by the global environment. US markets concluded the day slightly in the green. This came after stronger-than-anticipated economic data from China, where GDP expanded by 5.2 percent in the second quarter, demonstrating continued economic strength.
Riyank Arora from Mehta Equities is of the opinion that the general trend for Nifty 50 continues to be favourable, and traders ought to consider purchasing during dips while monitoring momentum around the 25,000 level for any signals regarding direction. Riyank Arora suggests three stocks to buy in the near-term. Here's what he says about the overall market.
Nifty 50 is currently hovering near 25,100, showing signs of steady consolidation after a strong upward move. The immediate support lies at 25,100, followed by 25,000 as a key short-term floor. On the upside, resistance is seen at 25,200, and a breakout above this could resume the bullish trajectory. The overall trend remains positive, and traders should look to buy on dips, keeping an eye on momentum near the 25,000 mark for any directional cues.
Bank Nifty is trading around 56,850, staying comfortably within the bullish range. Support is placed at 56,500, which is critical to maintain the positive structure. On the upside, 57,250 stands as the next resistance zone. A breakout above this level can trigger fresh momentum toward higher targets. The trend remains bullish, supported by strong participation from frontline banking stocks and improving market breadth.
Riyank Arora recommends these three stocks in the short term - Reliance Industries, Tech Mahindra, and Infosys.
Buy | CMP: ₹ 1,490 | Stop Loss: ₹ 1,450 | Target: ₹ 1,550
Reliance is showing early signs of a breakout after reclaiming the ₹ 1,480–1,490 zone with strong volumes. The stock is trading above key moving averages, and momentum indicators like RSI are turning positive. A close above ₹ 1,500 could add to the upward thrust. Traders can look for a target of ₹ 1,550 while keeping a stop loss at ₹ 1,450.
Buy | CMP: ₹ 1,574 | Stop Loss: ₹ 1,530 | Target: ₹ 1,650
Tech Mahindra is forming a base around the ₹ 1,540–1,560 zone and has now moved past short-term resistance. RSI is picking up, and MACD has indicated a positive crossover. With renewed interest in IT stocks, Tech Mahindra could see a move toward ₹ 1,650. A stop loss at ₹ 1,530 is suggested for risk control.
Buy | CMP: ₹ 1,575 | Stop Loss: ₹ 1,540 | Target: ₹ 1,650
Infosys is consolidating above its 20-day moving average and looks poised for a breakout above the ₹ 1,580 mark. Technical indicators are showing strength, with RSI trending upwards and MACD supporting the bullish bias. A sustained move above ₹ 1,580–1,600 could trigger a rally toward ₹ 1,650. Keep a stop loss at ₹ 1,540 to manage downside risk.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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