2 top stock recommendations from Aamar Deo Singh
So, what it means is that we could witness a rally in this stock as well. So, buying at the current levels for a target of 1925 on the upside with a stop loss of 1779.
Overall, what we need to understand is that markets have rallied significantly from the recent lows of 22,000 to currently trade around 24,300 plus. So, clearly, that has been a 10% more or less rally and in a very short span of time. So, somewhere or the other stocks are definitely witnessing some profit booking as well.
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"Overall, what we need to understand is that markets have rallied significantly from the recent lows of 22,000 to currently trade around 24,300 plus. So, clearly, that has been a 10% more or less rally and in a very short span of time. So, somewhere or the other stocks are definitely witnessing some profit booking as well," says Aamar Deo Singh I would say that the markets are definitely very sensitive to the news flows be it the tariffs, earlier it was more of a tariff news flows, but that is the markets are more or less mellowed down and Trump has also to a certain extent pulled back on that.So, markets are not that much concerned, at least I am talking about the domestic markets, they are not that much concerned. But yes, the recent terror attack in Kashmir that is definitely a cause of concern and there the markets are, I would say, slightly on the cautious side. Though we are not seeing a significant, I would say, shift, so what is likely to happen is that if we look at India VIX because that gives us a first indicator, it has moved up.There is no doubt about it, it had corrected to almost 14 levels. Currently, it is around 18. So, if we look at the week so far, it is up almost more than 6%, so that is some sort of concern that yes, there is some concern with that regard.Overall, what we need to understand is that markets have rallied significantly from the recent lows of 22,000 to currently trade around 24,300 plus. So, clearly, that has been a 10% more or less rally and in a very short span of time. So, somewhere or the other stocks are definitely witnessing some profit booking as well.So, it could be some consolidation at the current level. So, if I look at the major indices, if I look at Nifty , so Nifty has a potential to rally 300-400 points higher towards 24,700, 24,800, that is going to be the next zone of resistance for Nifty, prior to that somewhere around the current level, so somewhere around 24,400 would be the first zone of resistance.If that is taken out, then we could witness a 300-400 point rally in Nifty. And having said that, if I look at the support, so immediate support would be somewhere around the 24,000 level with it being in favour of the bulls until and unless we witness some negative news flow because I have been saying for quite some time that it is right now a buy on dips strategy, but you need to be slightly cautious at the current levels because we witnessed a sharp up move.Yes, I would say HDFC Life is definitely one stock one can look at. Today, it has witnessed a good breakout and on significant volume. So, if I look at the stock from the last few weeks in particular, so the stock has witnessed a sharp rally and technically if I look on the charts be the intermediate-term trend, short term as well as the long term, the stock remains strong and firm.So, this is one stock one can look at buying at the current levels towards 740 odd levels with a target of 778 on the upside. And the next stock to look at is from the pharma space and that is Sun Pharma . What we are seeing is that Sun Pharma did consolidate for quite some time between the 1600 and 1800 level.We have seen the stock trading around those levels but managing to sustain above the 1800 levels. So, currently, it is around 1830. If I look at the chart, some of the technical indicators on the intermediate term, they have turned positive, so that clearly tells me and the long-term trend is, I would say, not very positive but yes, it is positive with somewhat of a bias.So, what it means is that we could witness a rally in this stock as well. So, buying at the current levels for a target of 1925 on the upside with a stop loss of 1779.
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Mint
38 minutes ago
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Best stocks to buy today, as recommended by NeoTrader's Raja Venkatraman
India's stock market wrapped up last week on a high, posting nearly a 1% gain thanks to positive domestic developments. Initially, caution prevailed as investors awaited the Monetary Policy Committee's (MPC) decision. However, a pleasant surprise—a 50-basis point cut in the repo rate and a staggered 100-basis point reduction in the cash reserve ratio—swiftly shifted sentiment. This led to a significant upward surge, after which the market stabilized for the rest of the day. Ultimately, the Nifty 50 index closed near its daily high at 25,003.05. Here are three stocks to buy or sell today, as recommended by Raja Venkatraman of NeoTrader for Monday, 9 June. POLYCAB: Buy CMP and dips to ₹ 6,000 | Stop: ₹ 5,950 | Target: ₹ 6,525-6,700 BORORENEW: Buy CMP and dips to ₹ 542 | Stop: ₹ 525 | Target: ₹ 615-630 DALBHARAT: Buy above ₹ 2,120 and dips to ₹ 2,090 | Stop: ₹ 2,070 | Target: ₹ 2,250-2,325 The market rally on 6 June was broad-based, with all major sectors contributing. Rate-sensitive sectors like realty, financials, and auto were the biggest beneficiaries, with other sectors also performing well. Broader market indices also extended their gains, rising between 0.8% and 1.2%. While the Nifty 50 is still in a consolidation phase, the renewed vigor in rate-sensitive sectors, especially the breakout in the banking index, has reignited hopes for a sustained upward trend. A definitive break above 25,200 on the Nifty could initiate the next leg of the rally, potentially propelling the index towards 25,600. Looking ahead, the impact of the recent rate cut is expected to continue driving market sentiment. The rate-sensitive segments, along with specific themes like railways, are likely to remain in the spotlight, with other sectors contributing in a rotational manner. Finally, after some huffing and puffing, the Nifty 50 managed to crack through the resistance at 25,000 and powered its way higher by Friday. In between, there were some intraday fulminations but the bulls managed to hold the wheel and did not allow the trend to go off the road. Matters were helped in the last week when the best efforts by the bears were held at abeyance over three successive sessions, with Doji type candle formations. When such a pattern gave way to a bullish candle starting on Monday, the stage was set for more gains. Results flow has been good for the fourth quarter, and some heavyweights came out with Street-beating numbers, which has kept the sentiment juices flowing rather nicely. In addition, activity in the mid- and small-cap segments has also been good. With the threat of the Trump tariffs now receding with no real clarity, the market has one less item to worry about. The Reserve Bank of India's policy was the turning point last week. On Friday, the RBI Governor went beyond anticipation to give a 50 basis point repo rate cut and 100 bps CRR cut to bolster the banking and financials sectors. (TradingView) Bank Nifty compared to Nifty has fared well and would give us more than fair evidence of continued bullish play to emerge next week, however on dips. Considering the pointers, one should look to buy at lower levels in the indices. The sharp rise in trends on Friday beyond the much-touted resistances at 25,000 has given us some opportunity to look for some opportunities in Nifty now. Trading has been quite challenging as the movements are happening in spurts hence it's best to trade with suitable stop loss. Applying a fair amount of discretion shall enable us to profit from the volatility that shall continue, as we are now witnessing some positive vibes against the backdrop of a pensive global scenario. POLYCAB: Buy CMP and dips to ₹ 6,000 | Stop: ₹ 5,950 | Target: ₹ 6,525-6,700 Why POLYCAB is recommended: With about 25% organized market share, Polycab leads the domestic C&W market. The company is present in both cables (65% of the sales mix) and wires (25-30% of the mix).However, Jefferies feels that the stock will not face major headwinds as it already has an established presence and the new competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top . With prices holding firm at the TS line we can consider going long. With about 25% organized market share, Polycab leads the domestic C&W market. The company is present in both cables (65% of the sales mix) and wires (25-30% of the mix).However, Jefferies feels that the stock will not face major headwinds as it already has an established presence and the new competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top . With prices holding firm at the TS line we can consider going long. Key metrics P/E: 45.90 52-week high: ₹ 7,607.15 Volume: 319.43K Technical analysis: Support at ₹ 4,950; resistance at ₹ 6,950 Support at 4,950; resistance at 6,950 Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns Market volatility and sector-wide fluctuations in geopolitical news could impact returns Buy at: CMP and dips to ₹ 6,000 CMP and dips to 6,000 Target price: ₹ 6,525-6,700 in 1 month 6,525-6,700 in 1 month Stop-loss: ₹ 5,950 BORORENEW: Buy CMP and dips to ₹ 542 | Stop: ₹ 525 | Target: ₹ 615-630 Why BORORENEW is recommended: BORORENEW posted weak Q4 numbers, indicating that the trends are under pressure. However, with the nature of the prices seen in the last few days we can comprehend that the newsflow has already been priced in. The volatile moves seen in the last 3 months are now seen giving up, indicating a possibility of some upward bounce as a V-U pattern is seen forming with volumes. Can look to go long. 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Key metrics P/E: 225.05 52-week high: ₹ 644 Volume: 540.20K Technical analysis: Support at ₹ 460; resistance at ₹ 680 Support at 460; resistance at 680 Risk factors: Competition from streaming platforms and changing consumer preferences Competition from streaming platforms and changing consumer preferences Buy at: CMP and dips to ₹ 542 CMP and dips to 542 Target price: ₹ 615-630 in 1 month 615-630 in 1 month Stop-loss: ₹ 525 DALBHARAT: Buy above ₹ 2,120 and dips to ₹ 2,090 | Stop: ₹ 2,070 | Target: ₹ 2,250-2,325 Why DALBHARAT is recommended: The counter has been consolidating around the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands and produce a turnaround. After the recent test of the TS & KS bands and a strong closing on Friday we can look at some positive vibes to emerge. The counter has been consolidating around the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands and produce a turnaround. After the recent test of the TS & KS bands and a strong closing on Friday we can look at some positive vibes to emerge. Key metrics P/E: 208.50 52-week high: ₹ 2,166.70 Volume: 105.72K Technical analysis: Support at ₹ 2,050; resistance at ₹ 2,250 Support at 2,050; resistance at 2,250 Risk factors: Supplier retention and potential customer acquisition challenges Supplier retention and potential customer acquisition challenges Buy at: Above ₹ 2,120 and dips to ₹ 2,090 Above 2,120 and dips to 2,090 Target price: ₹ 2,250-2,325 in 1 month 2,250-2,325 in 1 month Stop-loss: ₹ 2,070 Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. 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.
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Last week, the Internet witnessed the spectacular implosion of one of the most unconventional alliances in modern American politics. What had once been an uneasy partnership between the billionaire CEO of Tesla and X, Elon Musk, and U.S. President Donald Trump, blew into a full-blown public feud. Mr. Musk accused the 78-year-old President of 'total ingratitude', posting on X: 'Without me, Trump would have lost the election. Dems would control the House and the Republicans would be 51–49 in the Senate.' To this, Mr. Trump shot back on Truth Social, saying, 'I would have won Pennsylvania regardless of Elon. I'm very disappointed with Elon.' But the rift had not appeared overnight. Their relationship had been fraying for months — quietly at first, then more openly, until it finally collapsed. A rocky start Mr. Musk was never a fan of Mr. Trump. In the lead-up to the 2016 election, Mr. Musk openly supported Democratic presidential nominee Hillary Clinton. 'I feel a bit stronger that he is not the right guy,' he said of Mr. Trump at the time in an interview with CNBC. 'He doesn't seem to have the sort of character that reflects well on the United States.' Yet, after Mr. Trump won the election, Mr. Musk joined a handful of White House advisory boards, including Mr. Trump's 'manufacturing jobs council'. The alliance did not last long. Mr. Musk left those roles just months later, citing Mr. Trump's withdrawal from the Paris Climate Accords. 'Climate change is real. Leaving Paris is not good for America or the world,' he tweeted in June 2017. Over the years, their paths occasionally crossed, but the relationship remained distant. In 2020, Mr. Trump, at the SpaceX launch in Florida, praised Mr. Musk, saying: 'I speak to him all the time. Great guy. He's one of our great brains. We like great brains. And Elon has done a fantastic job.' Mr. Musk, however, did not reciprocate the praise. Later in 2022, Mr. Musk purchased Twitter and later rebranded it as 'X' in July 2023. One of his first moves was to reinstate Mr. Trump's previously banned account (after finding his tweets were 'highly likely to encourage and inspire people to replicate the criminal acts' that took place in the January 6 Capitol attack.) Though Mr. Trump did not immediately return to posting on X, Mr. Musk's move was largely seen as pro-Trump. Around the same time, he also began aligning more openly with Republicans. 'In the past I voted Democrat, because they were (mostly) the kindness party. But they have become the party of division & hate, so I can no longer support them,' Mr. Musk tweeted. Growing camaraderie By 2024, as Mr. Trump prepared for a second term in the White House, their camaraderie deepened, with Mr. Musk playing an increasingly visible role in backing Mr. Trump's campaign and policies. He officially endorsed the Republican candidate, following an assassination attempt on Mr. Trump in Butler, Pennsylvania. 'I fully endorse President Trump and hope for his rapid recovery,' Mr. Musk had tweeted. It was seen as a striking moment of public solidarity. Not only did Mr. Musk use his X social media platform to boost Mr. Trump's efforts to get re-elected, but also offered financial support. Mr. Musk's pro-Trump spending group America PAC also played a major role in helping mobilise and register voters in battleground States that could decide the election. The Guardian reported that Mr. Musk spent almost $300 million in support of Mr. Trump. On the night of the election victory, Mr. Trump had said, 'A star is born', referring to Mr. Musk. And days later, the Tesla CEO emerged as a key ally of the President. He was appointed to lead a newly created government cutting agency, called the Department of Government Efficiency (DOGE). Two weeks into the job, Mr. Musk said he loved Mr. Trump 'as much as a straight man can love another man'. Their closeness was on full display from flying together on Air Force One to dancing together on New Year's Eve to the disco hit YMCA. Democrats jokingly even referred to Mr. Musk as 'President Elon.' In a joint interview with Fox News in February, both heaped praise on each other. Mr. Trump said that Mr. Musk and his '100 geniuses' were ensuring his executive orders got implemented to avoid the experience of past administrations that were frustrated by bureaucracy. 'He has got some very brilliant young people working for him that dress much worse than him actually. They dress in just t-shirts; you would not know they have 180 IQ,' Mr. Trump said, praising Mr. Musk as a 'leader' who 'gets it done'. Mr. Musk, in return, praised the leader. And in March, the White House lawn was turned into a Tesla showroom. Mr. Trump stepped out from a shiny red Model S instead of his usual black Limousine, and later he even purchased the car. However, seven months later, the bromance began to cool. In April, Mr. Musk said he would be spending less time at the DOGE. The Wall Street Journal reported that Mr. Musk's White House visits declined towards the end of his tenure. At first, he was there five to seven days a week. Then three. By the end, only occasionally. Tensions boil In May, tension started to simmer. Mr. Musk criticised the White House-backed tax and budget proposal, known as the 'One Big Beautiful Bill' Act. 'I was, like, disappointed to see the massive spending Bill, frankly, which increases the budget deficit, not decreases it, and undermines the work that the DOGE team is doing,' Mr. Musk told the TV programme CBS Sunday Morning. Mr. Trump, however, was reportedly less angry than some of his advisers about Mr. Musk's criticism, according to The Wall Street Journal. On May 31, the two men made a public appearance together in the Oval Office to mark the end of the tech billionaire's tenure as a special government employee, after 138 days in the office. Even then, Mr. Trump insisted that Mr. Musk was 'not really leaving' his team. Breaking point But once out, the billionaire resumed his criticism against the 'Big Beautiful Bill', saying it would drive up the federal budget deficit and undo the cost-cutting work of DOGE. 'I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination,' Mr. Musk wrote on X on June 1. Mr. Trump responded sharply days later, expressing dismay. ' I'm very disappointed because Elon knew the inner workings of this Bill better than almost anybody sitting here,' he said. ' He had no problem with it. All of a sudden, he had a problem.' The spat intensified to a level that Mr. Musk even floated the idea of launching a new political party in America in a poll on X, that would represent 'the 80% in the middle'. He also levelled major allegations against Mr. Trump, saying the President was named in the unreleased Epstein files, a reference to documents linked to the late convicted sex offender Jeffrey Epstein. He later deleted this tweet. To this, Mr. Trump went on his Truth Social platform on Friday and posted a statement attributed to the Epstein criminal defence attorney David Schoen that vehemently denied Mr. Musk's accusation. Mr. Trump, meanwhile, also threatened to cancel Mr. Musk's U.S. government contracts, and the President's ally Steve Bannon suggested that the South African-born American citizen 'should be deported from the country immediately'. The financial fallout was swift and severe. Tesla's shares tumbled 14.2%, wiping approximately $152 billion off its market value. Mr. Musk's personal net worth plunged by $33 billion on June 6 alone. By the end of the week, the usually outspoken billionaire had gone quiet — sidelined, isolated, and, some say, stunned. The Trump campaign, meanwhile, has reportedly begun exploring alternative tech partnerships, with names like Peter Thiel and Palantir-linked firms. Whether this is a temporary rift or the final chapter in their alliance remains to be seen. But for now, the bromance is over.
