Latest news with #ADANIGREEN
Mint
2 days ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Wednesday — 11 June 2025
Stock Market Today: The benchmark Nifty-50 Index ended flat at 25,104.25 amidst ongoing consolidation in the market that is awaiting fresh triggers. The Bank Nifty at 56,629.10 ended 0.37% lower amidst mixed trend in the sectoral indices. Many indices led by Realty ended in the red while IT, pharma, energy were among gainers> The broader indices also ended almost flat. Despite showing choppy movement in the short term, the near-term uptrend setup of Nifty remains positive and a sustainable move above 25200 levels could open the next upside towards 25600 levels in the near term. Immediate support is placed at 25000-24900 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. For Bank Nifty immediate support is seen at 55,400, however Bajaj Broking expects the index to maintain its upward bias. Investors will be closely watching Trump's speech later today and the U.S. inflation report due on Wednesday and India CPI due on Thursday, for further direction. Looking ahead, we expect markets to continue to consolidate and remain range-bound with a positive bias, said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks These include Adani Green Energy Ltd, Dr Reddy's Laboratories Ltd, Bharat Forge Ltd, CESC Ltd, Cummins India Ltd , Torrent Power Ltd m Chambal Fertilisers & Chemicals Ltd and GlaxoSmithKline Pharmaceuticals Ltd Adani Green Energy Ltd- Bagadia Buy ADANIGREEN at around ₹ 1060.5 keeping Stoploss at ₹ 1023 for a target price of ₹ 1135 ADANIGREEN is currently trading near ₹ 1060, showing a strong recovery with three consecutive bullish sessions, which signals a significant reversal in momentum. The stock has successfully broken out of its recent lower high, supported by a notable increase in trading volumes that indicates strong buying interest. If ADANIGREEN maintains its position above the ₹ 1150 level, it is well-positioned for further upward movement, with a potential target of ₹ 1135. 2. Dr Reddy's Laboratories Ltd- Bagadia recommends buying Dr Reddy's Laboratories at around ₹ 1348.80 keeping Stoploss at ₹ 1300 for a target price of ₹ 1443 DRREDDY is currently trading at the levels of 1348.8, exhibiting a strong bullish trend on the daily chart, having recently completed a breakout from an ascending channel pattern. This breakout is supported by rising volumes and consistent upward price action over recent sessions. The stock has gained significant momentum, rallying to a recent high of 1362.6. 3. Bharat Forge Ltd - Dongre recommends buying BHARATFORG at around ₹ 1340 keeping Stoploss at ₹ 1310 for a target price of ₹ 1380 Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1340 and maintaining a strong support at ₹ 1310. The technical setup indicates the potential for a price retracement towards the ₹ 1380 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 1310 offers a prudent approach to capturing the anticipated upside. 4. CESC Ltd - Dongre recommends buying CESC at around ₹ 171 keeping Stoploss at ₹ 164 for a target price of ₹ 183 Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 171 and maintaining a strong support at ₹ 164. The technical setup indicates the potential for a price retracement towards the ₹ 183 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 164 offers a prudent approach to capturing the anticipated upside. 5. Cummins India Ltd- Dongre recommends buying CUMMINSIND @ 3388 SL 3440 TGT 3500In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 3388 and holding above a key support level at ₹ 3440. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 3440 to manage downside risk. The target for this trade is set at ₹ 3500, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. Torrent Power Ltd- Koothupalakkal recommends buying TORRENT POWER at around ₹ 1451 for a target price at ₹ 1520 keeping stop loss at Rs1425 The stock after a short period of consolidation has indicated a bullish candle formation on the daily chart just moving past the important 50EMA level at ₹ 1441 with decent volume participation involved to improve the bias and can anticipate for further rise in the coming sessions. The RSI has been flat for quite a while and has indicated a positive trend reversal to indicate strength and can carry on with the positive move further ahead. With the chart technically well positioned. 7. Chambal Fertilisers & Chemicals Ltd- Koothupalakkal recommends buying CHAMBAL FERT at around ₹ 565 for a target price of ₹ 590 keeping Stop loss at ₹ 553 The stock after witnessing a significant correction has indicated a strong bullish candle formation taking support near the 200 period MA at ₹ 540 zone and has improved the bias to expect for further gains in the coming sessions. The RSI has triggered the buy signal from the highly oversold zone and looks very much attractive with much upside potential visible and can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of ₹ 590 keeping the stop loss of ₹ 553 level. 8. GlaxoSmithKline Pharmaceuticals Ltd- Koothupalakkal recommends buying GlaxoSmithKline Pharmaceuticals or GLAXO at around ₹ 3398 for a target price of ₹ 3520 keeping Stop loss at ₹ 3340 The stock after witnessing the short period of correction from ₹ 3500 level, it has indicated a strong recovery in the final hours with volume participation visible and has improved the bias in the hourly chart to anticipate for further rise in the coming session. The RSI in the hourly time frame is well placed and has indicated a buy signal to expect for another round of fresh momentum to gain further. With the chart looking good, we suggest buying the stock for an upside target of ₹ 3520 level keeping the stop loss of ₹ 3340 level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
19-05-2025
- Business
- Mint
Top three stocks to buy today: Expert Ankush Bajaj's picks for 19 May
Indian stock markets ended slightly lower on Friday, weighed down by weak global cues and a pullback in domestic technology shares. The Nifty 50 slipped 42 points to close at 25,019, while the Sensex dropped 200 points to finish at 82,330. Despite the subdued session, both indices recorded solid weekly gains of more than 4%. Top three stock recommendations by Ankush Bajaj for 19 May Buy: Adani Green Energy Ltd (ADANIGREEN) (current price: ₹1,020) Buy: Aarti Industries Ltd (AARTIIND) (current price: ₹474) Also Read: Indian defence firms skyrocket after Pakistan skirmish Buy: Bharat Dynamics Ltd (BDL) (current price: ₹1,842) Also Read: Mint Explainer: Understanding NSE's new framework for retail algo trading and what it means for traders Market Update: 16 May 2025 After a strong upward momentum throughout the week, the Indian stock market finally hit the brakes on Friday, showing signs of consolidation. As the weekend approached, investor sentiment turned cautious, resulting in a session that remained largely range-bound. The day was marked by indecisiveness and muted trading activity, with many participants opting to book profits following recent gains. The Nifty 50 traded within a tight band throughout the day and eventually closed flat at 25,019.80, rising just 42.30 points or 0.17%. This sideways movement reflected a sense of market exhaustion after a robust bullish streak, possibly signaling a pause before the next major directional move. A similar trend was seen in the BSE Sensex, which ended the session at 82,330.59, gaining 200.15 points or 0.24%. Meanwhile, the Bank Nifty remained nearly unchanged, adding a negligible 0.70 points to close at 55,354.90, indicating subdued interest in financial heavyweights. Adding to the quiet sentiment, India Vix continued to decline, pointing toward low volatility and suggesting that traders were not expecting any major surprises in the short term. The lack of strong momentum on either side hinted that the market may be waiting for fresh domestic macroeconomic data or global cues to drive its next move. Sectoral View The broader sectoral performance on Friday painted a neutral picture, with no particular sector clearly leading or lagging, further reinforcing the market's range-bound character. On the positive side, the Public Sector Enterprises (PSE) index gained 1.81%, supported by optimism surrounding energy sector reforms and rising demand in electric vehicles. The Realty Index followed closely with a 1.63% rise, as traders rotated into housing and commercial real estate stocks. Energy stocks also witnessed modest gains of 0.85%, driven by strong commodity prices and better export prospects. Conversely, some sectors witnessed mild profit booking. The services index slipped 0.42%, while the healthcare sector dipped 0.30%, largely pressured by select pharma names. The infrastructure sector also edged lower by 0.17%, reflecting tepid interest in capital goods and related themes. Also Read: Sebi's PSU delisting proposal sparks calls for parity with private companies Stock Highlights In a largely muted session, there were only a handful of notable movers. Top gainers included Bharat Electronics Ltd, which surged 3.85%, continuing to benefit from sustained defense order inflows and optimism in the electric vehicle-linked ecosystem. Bajaj Auto added 1.88%, bolstered by renewed strength in the metals space. Tata Consumer Products climbed 1.81%, as the market responded positively to recent large orders and robust earnings expectations. On the downside, Bharti Airtel declined 2.85%, likely facing profit booking after its recent outperformance. HCL Tech slipped 2.13%, contributing to the broader weakness in the IT space. State Bank of India ended the day 1.94% lower, dragged down by muted banking activity and sectoral rotation away from PSU banks. Nifty Technical Analysis After a strong rally on 15 May, the Nifty briefly consolidated, closing around 42 points lower. Despite this minor dip, the index remains on track, resuming its upward movement toward the 25,300 mark. Notably, Nifty has managed to hold above the key psychological level of 25,000, indicating continued strength. Support is now shifting higher to 24,800, and any dips toward this level are likely to be viewed as buying opportunities. Momentum indicators on both the daily and hourly charts have shown a positive crossover — a technical buy signal — reinforcing a bullish view. From a technical standpoint, the index is currently trading above key moving averages. On the daily chart, Nifty is well above the 20-day EMA and 40-day DEMA, currently placed at 24,394 and 23,931, respectively. The momentum indicator on the daily timeframe also supports this upward bias with a bullish crossover. On the hourly chart, Nifty is holding above the 20-hour and 40-hour EMAs, at 24,845 and 24,745, respectively. Here too, the momentum indicator shows a positive crossover, adding to the short-term bullish narrative. Market breadth further supports this view, with 1,958 stocks advancing and 919 declining on the National Stock Exchange, reflecting broad-based market participation. Conclusion The technical setup remains favorable, and with key levels holding firm, the outlook on Nifty stays positive. Traders may consider buying on dips, especially near support levels, as the index continues its journey toward 25,300. 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.
