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Time of India
3 days ago
- Business
- Time of India
Top stocks to buy today: Stock recommendations for May 29, 2025
Top stocks to buy today (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Chennai Petroleum Corporation, LTIMindtree , and Zydus Lifesciences are the top buy calls for today. Here's his view on Nifty, Bank Nifty and the top stock picks for May 29, 2025: Index View: Nifty For the past 9 trading days, Nifty has been static within a 2% band, however the highs of 25000 has been constantly providing supply non index longs. Unless a closing above 25050 is not confirmed, the downside swing towards 24300 / 24100 remains open on the index. Nifty has had a nearly 15% run up in the past 6 weeks without a 2% correction. With the price action seen from the start of this week, it is fair for the index to retest 200 DMA support on downside which currently reads below 24100. Bank Nifty Bank Nifty has broken from its 6 week rising trendline in last week's trading. This puts the index back on track to retest its polarity support of its original 5 year rising trendline. Targets for this breakdown hint for a 1200-1500 point breakdown from CMP. Negation for this down move is seen only when the index closes above 55600. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo CHENNPETRO (BUY):LCP: 719.05Stop Loss: 681Target: 777 After a bullish head and shoulder breakout on daily and weekly charts earlier this month, prices are consolidating after crossing the 200 DMA resistance on shares on Chennai Petroleum Corporation. This consolidation in a range is a typical price behaviour on this stock historically observed before another round of up move. A follow up move of 7-9% is likely to be unfolded post this monthly derivative expiry. LTIM (BUY):LCP: 5099Stop Loss: 4950Target: 5525 After trading at a 3 year low in April, LTIMindtree has been rising within a channel and has gained 25% since its April lows. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark NIFTYIT index on a YTD basis which is down over 13% while LTIM is down 8% in the same period of 2025. A move towards higher range of the bullish channel is likely to unfold for target of 5525. ZYDUSLIFE (BUY): LCP: 925.60Stop Loss: 888Target: 980 Zydus Lifesciences stock has closed at a 2 month high, after breaking out from a falling trendline earlier this month which was in place since August 2024. Repeated higher lows have been seen from the start of this month on daily charts, this 2 high note closing on charts is likely to allow further thrust on the stock for a resistance meet at its 200 DMA near 980 odd. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
24-04-2025
- Business
- Time of India
Top stocks to buy today: Stock recommendations for April 24, 2025
Top stocks to buy (AI image) Top stock market recommendations : According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Ambuja Cements, Jubilant FoodWorks and SBI Cards and Payment Services are the top buy calls for today. Here's his view on Nifty, Bank Nifty and the top stock picks for April 24, 2025: Index View: Nifty After completing its 24k target and reclaiming above the 200 DMA, this is the third consecutive day wherein the index has closed above the same after a 10% flash rally. Given the geopolitical developments and a stretched rally looking tired on charts, we shift our stance to sideways from buy on dip with a short term support seen at 23900 below which weakening momentum could pick up. Despite a strong handover from the global front this morning, charts do not warrant an immediate upside after a flash rally seen in the past 10 trading days. Bank Nifty Bank Nifty continued to lead the charge amongst the widely tracked indices with staging a 1800 odd point rally for this week at yesterday's high. An additional 2000 points target had opened up on charts after its strong closing on Thursday. Yesterday was the first instance since the panic lows of 7th April that Bank Nifty underperformed Nifty marking an end to its upper hand in this leg. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Any closing below 55240 is likely to drag the index on a negative momentum from here on. We shall further the case after Bank Nifty's reaction near the 56200 levels, as it looks extremely overbought daily and hourly charts. AMBUJACEM (BUY): LCP: 574.35 Stop Loss: 560 Target: 606 Ambuja Cements stock has found strong support from its 5 year trendline earlier this month and this is its 6th touch base on this trendline in the past 5 years , making it all the more stronger. In the short term the 200 DMA has also been reclaimed along with the index as this helps in establishing its short term trend northwards. JUBLFOOD (BUY): LCP: 713.45 Stop Loss: 685 Target: 765 QSR stocks had been sliding since the start of this calendar year. Marking an end to the slide, Jubilant FoodWorks has given a breakout of a 3 month long correction while making a higher bottom formation all through the past 4 weeks. A quick 6-8% upside follows through this breakout on the stock. SBICARD (BUY): LCP: 915.90 Stop Loss: 882 Target: 1005 SBI Cards and Payment Services stock has closed at a fresh 22 month high with repeated lower high formation suggesting accumulation on every dips being observed. The scrip has held its neck above its 200 DMA as well as 200 WMA for the past 8-10 weeks now suggesting that its short term as well as medium term trend has now been established northwards and dips are likely to get bought into. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
