Latest news with #AnkushBajaj
Mint
17 hours ago
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 21 July
Indian stock market benchmarks—the Sensex and the Nifty 50—ended lower on Friday, 18 July, extending losses for the third straight week. The Nifty 50 slipped below the key 25,000 mark, signalling continued pressure on the broader market. Over the past three weeks, the Sensex has shed nearly 2,300 points, or close to 3%, while the Nifty 50 has also declined by around 3%. On Friday, the Nifty 50 fell 143 points, or 0.57%, to close at 24,968.40, while the Sensex dropped 502 points, or 0.61%, to settle at 81,757.73. The broader market also came under pressure, with recent outperformers in the mid- and small-cap segments witnessing a sell-off. The BSE Midcap and Smallcap indices declined 0.62% and 0.64%, respectively. Top 3 stocks recommended by Ankush Bajaj for 21 July: Why it's recommended: Despite the broader market sell-off, SAIL managed to close over 2% higher on Friday, showing strong relative strength. The stock has taken support at the 20-day moving average on the daily chart, and the daily RSI stands at 60, indicating bullish momentum. This resilience suggests that the uptrend may continue in the near term. Key metrics: Support taken at 20-DMA; strength seen despite weak market. Pattern: Bounce from moving average with strong candle formation. RSI: Daily RSI at 60 confirms upward momentum. Technical analysis: The chart indicates strong support and the potential for a move toward ₹145 in the short term. Risk factors: A breakdown below ₹132 would invalidate the setup and invite renewed selling. Buy at: ₹136.45 Target price: ₹145.00 Stop loss: ₹132.00 Why it's recommended: On the daily chart, HDFC AMC has formed a triangle breakout pattern, supported by a strong RSI reading of 74, indicating robust momentum. On lower timeframes, the stock is trading above all key moving averages, which further strengthens the bullish outlook. A continuation of this rally could lead to much higher levels. Key metrics: Triangle pattern breakout on daily chart with high RSI. Pattern: Bullish triangle breakout with volume support. RSI: Strong daily RSI at 74 signals momentum continuation. Technical analysis: The structure suggests an ongoing breakout with scope for further upside towards ₹5,680 and higher. Risk factors: A fall below ₹5,545 would negate the breakout and weaken the trend. Buy at: ₹5,590.00 Target price: ₹5,680.00 Stop loss: ₹5,545.00 Why it's recommended: Glenmark Pharma has formed abullish pennant pattern on the daily chart, indicating a continuation of its recent strong uptrend. The hourly RSI is trending higher at 59, showing that momentum is picking up again after recent profit booking. The stock made new highs recently, and this consolidation phase could lead to a fresh breakout toward lifetime highs. Key metrics: Bullish pennant breakout on the daily chart. Pattern: Pennant pattern with momentum re-emergence. RSI: Hourly RSI at 59 showing strength returning. Technical analysis: The price action suggests that the stock may be ready for another leg up towards ₹2,280, with potential to go even higher. Risk factors: A move below ₹2,194 would invalidate the bullish setup. Buy at: ₹2,225.50 Target price: ₹2,280.00 Stop loss: ₹2,194.00 Market Wrap – 18 July Indian equity markets ended in the red on Friday, 18 July, as sustained selling across key sectors continued to weigh on investor sentiment. Despite brief recovery attempts—particularly in select defensives—broader market momentum remained weak, leading to a negative close across major indices. The Nifty 50 declined 143.05 points, or 0.57%, to settle at 24,968.40, while the BSE Sensex shed 501.51 points, or 0.61%, closing at 81,757.73. The Bank Nifty also ended lower, down 545.80 points, or 0.96%, at 56,283.00, as late-session buying failed to offset earlier losses in financial stocks. From a sectoral perspective, the tone remained largely cautious. The Banking index slipped 0.79%, Financial Services dropped 0.67%, and the Services index declined 0.59%—all reflecting profit booking and a broader risk-off mood in high-beta segments. The Metal sector stood out with a modest gain of 0.37%, offering some support to an otherwise weak market. In stock-specific action, Wipro led the gainers with a 2.25% rise, followed by Bajaj Finance and Tata Steel, which gained 1.63% and 1.17%, respectively—supported by sustained institutional inflows and strength in metals. However, the broader undertone remained bearish. Axis Bank fell sharply by 2.75%, Shriram Finance declined 1.67%, and Bharat Electronics Ltd. dropped 1.44%, reflecting investor caution in previously strong counters. Nifty Technical Analysis Daily & Hourly The Nifty ended Thursday's session on a weak note, closing at 24,968.40, down 143.05 points or 0.57 percent, marking a clear breakdown below the psychological 25,000 mark. This close below a key level indicates a further deterioration in short-term sentiment and suggests that the selling pressure may continue in the coming sessions. Technically, the index is now trading below both the 20-day simple moving average, which stands at 25,318, and the 40-day exponential moving average at 25,038. This structure signals that the upside remains capped unless the index manages to reclaim these moving averages decisively. The hourly chart also shows continued weakness, with Nifty trading below its 20-hour simple moving average of 25,137 and the 40-hour EMA at 25,101. More importantly, the index has broken down from the lower end of a rising wedge pattern, which is a bearish technical formation. This breakdown projects a near-term downside towards the 24,700 level, and if that fails to hold, the next major support lies around 24,500. Momentum indicators are reinforcing this bearish bias. The daily Relative Strength Index (RSI) has slipped to 43, showing a weakening trend, while the hourly RSI has fallen to 30, indicating oversold conditions and persistent intraday selling pressure. The daily MACD remains in positive territory at 38, suggesting that the medium-term trend hasn't entirely flipped bearish, but the hourly MACD has plunged to –65, confirming strong short-term downside momentum. Options data also presents a clearly bearish setup. Total Call open interest stands at 13.61 crore compared to 8.15 crore on the Put side, leading to a net difference of –5.47 crore, indicating aggressive call writing. The highest Call open interest is at the 25,200 strike, with maximum additions at 25,100, reinforcing a strong resistance zone overhead. On the Put side, while the highest OI is at the 24,900 strike, the maximum additions were at 23,050, suggesting that traders are anticipating even lower levels. Intraday changes also support this bearish stance, with Call OI rising by 6.36 crore and Put OI increasing by just 3.08 crore, resulting in a net change of –3.28 crore. Additionally, India VIX rose by 1.33% to 11.39, indicating a slight rise in market volatility and nervousness among participants. In summary, as anticipated in earlier reports, Nifty has now closed below the 25,000 mark, which has triggered a fresh wave of weakness. The index is expected to test the next support around 24,700 on the hourly chart, where a brief pause or consolidation might occur. However, a failure to hold that level could open the doors for further decline towards 24,500. Unless the index reclaims at least 25,318 and then 25,700 levels convincingly, the broader market trend remains fragile and tilted to the downside. Traders are advised to stay cautious and avoid aggressive long positions until signs of a reversal emerge 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.
Mint
4 days ago
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 18 July
Indian stock market benchmarks—the Sensex and the Nifty 50—closed lower on Thursday, 17 July, amid profit booking in select heavyweights including Infosys, HDFC Bank, and Reliance Industries. The Sensex declined 375 points, or 0.45%, to settle at 82,259.24, while the Nifty 50 fell 101 points, or 0.40%, ending the day at 25,111.45. However, mid- and small-cap stocks outperformed. The BSE Midcap index edged up 0.07%, and the BSE Smallcap index gained 0.30%. Top 3 stocks recommended by Ankush Bajaj for 18 July: Why it's recommended: After recent selling pressure, Tata Steel has shown a strong pullback and broken above the upper trendline of a falling wedge pattern—a bullish reversal signal. The breakout signifies trend reversal and momentum pick-up, aiming for a short-term move towards ₹170+. Key metrics: Breakout zone: Upper trendline breakout of falling wedge pattern, signalling trend reversal. Pattern: Falling wedge breakout with bullish follow-through. RSI: Recovering from oversold zone, confirming momentum shift. Technical analysis: The structure suggests that the bottom may be in place, with higher highs and higher lows starting to form. Momentum is favouring the bulls for a target zone of ₹170 and potentially higher. Risk factors: A move below ₹155 would invalidate the wedge breakout and may lead to renewed weakness. Use a strict stop-loss to manage risk. Buy at: ₹159.90 Target price: ₹170.00+ Stop loss: ₹155.00 Why it's recommended: Prestige Estates Projects Ltd is exhibiting a strong bullish setup backed by a rectangle pattern breakout on the 45-minute chart at ₹1,770. The Relative Strength Index (RSI) on the daily timeframe is at 70, indicating solid momentum yet still positioned for further upside. This multi-timeframe confluence of breakout signals suggests strength in trend continuation. Key metrics: Breakout zone: Rectangle breakout on 45-minute timeframe at ₹1,770 with high volume support. Pattern: Rectangular range breakout confirming bullish continuation. RSI: Bullish, currently at 70 on daily timeframe, suggesting strong trend with momentum. Technical analysis: The stock's structure shows sustained bullishness, with the breakout level likely to serve as a strong support. If broader sentiment remains positive, the price is expected to test ₹1,815– ₹1,830 in the short term. Risk factors: A close below ₹1,757 would negate the breakout signal and could lead to a short-term correction. Traders should trail with a tight stop-loss. Buy at: ₹1,783.00 Target price: ₹1,815– ₹1,830 Stop loss: ₹1,757.00 Why it's recommended: On the daily chart, Jindal Steel & Power has broken out of a triangle pattern, hinting at a bullish continuation with a medium-term target of ₹1,100+. Additionally, the 15-minute timeframe shows a rectangle breakout near ₹950, aligning short- and medium-term momentum toward ₹980+. Key metrics: Breakout zone: Triangle breakout on daily; rectangle breakout near ₹950 on intraday chart. Pattern: Multi-timeframe confluence of bullish breakout structures. RSI: Holding strong, supporting trend continuation. Technical analysis: With clear breakout levels and alignment across timeframes, the setup points toward a steady climb toward ₹970– ₹980, with further upside if momentum persists. Risk factors: A fall below ₹939 would negate the breakout structure, and short-term weakness could set in. Maintain a disciplined stop-loss. Buy at: ₹950.45 Target price: ₹970– ₹980 Stop loss: ₹939.00 Stock market wrap - 17 July Indian equity markets ended in the red on Thursday, 17 July, as sustained selling pressure across key sectors weighed on sentiment. Despite brief recovery attempts—particularly in select defensives—broader momentum remained weak, dragging major indices lower. The Nifty 50 declined 100.60 points, or 0.40%, to close at 25,111.45, while the BSE Sensex fell 375.24 points, or 0.45%, to 82,259.24. The Bank Nifty also ended lower, down 340.15 points or 0.59%, at 56,828.80, as late buying failed to fully reverse earlier losses in financial stocks. The sectoral picture was mixed, but the tone remained largely cautious. PSU Banks fell 0.79%, Services declined 0.67%, and the broader Banking index slipped 0.59%, reflecting profit booking and risk-off sentiment in high-beta pockets. On the flip side, a few sectors offered support. Realty outperformed with a gain of 1.24%, while Metals and Pharma rose 0.67% and 0.38%, respectively, helping limit the downside. In stock-specific action, Tata Consumer led the gainers with a 2.25% rise. Tata Steel and Hindalco climbed 1.63% and 1.17%, respectively, supported by continued institutional flows and positive cues in the metals space. Meanwhile, the broader undertone remained bearish. Tech Mahindra shed 2.75%, IndusInd Bank lost 1.67%, and SBI Life Insurance fell 1.44%, reflecting caution in recent outperformers. The Nifty 50 ended Thursday's session on a weak footing, closing at 25,111.45, down 100.60 points or 0.40%. The index slipped below the key psychological level of 25,200, indicating a deterioration in short-term sentiment. Technically, the Nifty is now trading below its 20-day simple moving average (SMA) at 25,325, while hovering just above the 40-day exponential moving average (EMA) at 25,042. This setup suggests the upside is likely capped unless the index decisively reclaims the 20-DMA. Until that happens, the broader trend remains fragile and skewed to the downside. On the hourly chart, the index has slipped below both its 20-hour SMA at 25,210 and 40-hour EMA at 25,182, confirming short-term weakness. More importantly, Nifty has broken below the lower boundary of a rising wedge pattern, which is a bearish development. This breakdown projects a near-term downside target of around 24,950, especially if the index fails to hold above the immediate support at 25,000. Momentum indicators reflect growing weakness. The daily RSI has dropped to 47.5, moving into neutral-bearish territory, while the hourly RSI has declined further to 38, indicating strong intraday selling pressure. The daily MACD remains positive at 66, suggesting that the medium-term structure hasn't turned fully negative yet, but the hourly MACD at –21 confirms a clear short-term loss of momentum. Options data also paints a bearish picture. Total Call open interest stands at 7.28 crore compared to Put open interest at 5.08 crore, with a net difference of –2.21 crore, indicating a dominant call writing bias. The highest Call OI and maximum additions are at the 26,000 strike, implying strong resistance overhead. On the Put side, the highest additions were at the 24,900 strike, highlighting that support is now shifting lower. The intraday change in OI also shows a net bearish bias, with Call OI rising by 3.32 crore and Put OI by only 1.81 crore, resulting in a negative OI change difference of –1.51 crore. This reinforces the view that traders are preparing for further downside. In summary, the Nifty's short-term trend has weakened following a breakdown below critical support levels and key moving averages. Unless the index manages to reclaim 25,325 and eventually close above 25,700, the market structure remains vulnerable. A decisive break below 25,000 could accelerate the selling pressure toward 24,950 or even 24,800. Traders should stay cautious, avoid aggressive long positions, and monitor price action closely around the 25,000 mark, which has now become the immediate make-or-break level for the index.
Mint
5 days ago
- Business
- Mint
Recommended stocks to buy today, 17 July, by India's leading market experts
On Wednesday, the Indian stock market closed on as lightly positive note. Benchmark indices managed to inch into the green after a day marked by choppy movements and selective sectoral strength. The Nifty 50 ended the day at25,212.05, rising slightly by16.25 points or 0.06%, while the BSE Sensex added 63.57 points or 0.08% to settle at 82,634.48. On to the top stock picks for16 July, as recommended by some of India's leading market experts. Top 3 Stocks Recommended by Ankush Bajaj for 17 July: Buy: PG Electroplast Ltd (PGEL) — Current Price: ₹828.00 Buy: Uno Minda Ltd — Current Price: ₹1,119.50 Two stock recommendations by MarketSmith India for 17 July: Why it's recommended: Capacity expansion and strategic acquisition, focus on premium products, cost efficiency and fuel optimization, and strong distribution network Key metrics: P/E: 597.39.40, 52-week high: ₹385.65, volume: ₹42.90 crore Technical analysis: Cup-with-handle pattern breakout on above average volume Risk factors: Raw material and fuel price volatility, execution risk in integration, dependence on government spending Buy at: ₹376.45 Target price: ₹435 in two to three months Stop loss: ₹350 Why it's recommended: Strong Parentage and Brand Trust, focus on affordable housing, wide network and agent base Key metrics: P/E: 6.26, 52-week high: ₹ 821, volume: ₹312.78 crore Technical analysis: Downward sloping trendline breakout Risk factors: Pressure on Margins, Relatively Slower Growth vs. Peers Buy at: ₹637 Target price: ₹720 in two to three months Stop loss: ₹595 Three stocks to trade today, recommended by NeoTrader's Raja Venkatraman Buy above ₹522 and dips to ₹485, stop ₹475, target ₹574-595 Buy above ₹1,651 and dips to ₹1,620, stop ₹1,599 target ₹1,775-1,800 EMUDHRA: Buy above ₹822 and dips to ₹795, stop ₹785, target ₹865-885 Stop loss: ₹785 Stocks to trade today, recommended by Trade Brains Portal for 17 July: Indian Railway Finance Corp. Ltd Current price: ₹135 Target price: ₹175 in 16-24 months Stop loss: ₹110 Why it's recommended: The ministry of railways has administrative authority for IRFC, a navratna public sector enterprise that was founded in 1986. Its primary responsibility is to raise money from the financial markets in order to finance the development or purchase of assets, which are then leased to Indian Railways. A number of other organizations in the industry, such as Rail Vikas Nigam Ltd (RVNL), RailTel, Konkan Railway Corp. Ltd (KRCL), and Pipavav Railway Corp. Ltd (PRCL), have received financial support from IRFC in addition to the railways. The company's assets under management (AUM) were valued at ₹4.6 trillion as of 31 March 2025. IRFC's net interest income increased by 2.2% from ₹6,429 crore in 2023-24 to ₹6,569 crore in 2024-25. Additionally, its net interest margin improved somewhat, going from 1.38% to 1.42% over the prior year. IRFC approved ₹5,700 crore in loans for the fiscal year, including ₹700 crore for NTPC and ₹5,000 crore for NTPC Renewable Energy Ltd. Additionally, the company became the first bidder for ₹3,167 crore in funding for the construction of the Banhardih Coal Block in Jharkhand's Latehar district, and it signed a rupee term loan arrangement for ₹5,000 crore with NTPC REL. The department of public enterprises granted the firm navratna status in 2024-25, and it hopes to soon obtain maharatna status. Additionally, under Indian Railways' General Purpose Waggon Investment Scheme (GPWIS), the IRFC board authorized funding to NTPC for 20 BOBR rakes on a finance lease basis up to ₹700 crore. In January 2025, a leasing agreement was also struck with NTPC Ltd for eight BOBR rakes, which were valued at over ₹250 crore. Additionally, IRFC and REMCL have signed a memorandum of understanding to jointly investigate financing alternatives for Indian Railways' renewable energy projects, including possible financing in the nuclear, thermal, and renewable energy domains. Risk factor: The ministry of railways and its affiliates account for the entirety of IRFC's loan book. As of 31 March 2025, 37% consisted of advances for leased railway assets, 62% consisted of lease receivables from the ministry, and 1% consisted of loans to organizations such as NTPC and RVNL. The company is susceptible to changes in finance or policy because its expansion is directly linked to the ministry's investment plans for Indian Railways. Furthermore, IRFC is vulnerable to interest rate swings and shifts in investor sentiment due to its reliance on market borrowings. Sona Blw Precision Forgings Ltd Current price: ₹456 Target price: ₹550 in 16-24 months Stop loss: ₹405 Why it's recommended: One of the top mobility technology firms in the world, Sona BLW Precision Forgings Ltd (Sona Comstar) was founded in 1995. It designs, manufactures, and supplies systems and components for global mobility OEMs in both electrified and non-electrified powertrain segments. The company has three engineering competency centres, five R&D centres, and twelve manufacturing units. India, the US, China, Serbia, and Mexico are among the five nations where it is present. North America accounts for 41% of the company's revenue, followed by India (29%), Europe (24%), Asia (6%), and the rest of the world (0.3%). Globally, Sona BLW holds an 8% market share in differential gears and a 5% market share in starter motors. In 2024-25, the company reported revenue from operations of ₹3,546 crore, an increase of 11.3% from ₹3,185 crore in the previous year. Ebitda stood at ₹975 crore with a 27.5% Ebitda margin. Profit after tax increased by 16% to ₹600 crore from ₹518 crore in the previous year. Segment-wise revenue share from BEV rose from 29% to 36% in 2024-25. In 2024-25, the firm increased its global market share for starter motors from 4.2% to 4.4% and differential gears from 8.1% in CY2023 to 8.8% in CY2024. The company's net order book increased to ₹24,200 crore after securing orders totalling ₹4,700 crore. For an enterprise value of ₹1,600 crore, the business signed a Business Transfer Agreement (BTA) with Escorts Kubota Ltd (Escorts) in 2024-25 to acquire its railway business. The deal was finalized on 1 June 2025. To collaborate on connected, autonomous, and electric technologies for AGVs, drones, and eVTOLs, the company has inked a memorandum of understanding (MOU) with the NMICPS Technology Innovation Hub on Autonomous Navigation Foundation at IIT Hyderabad (TIHAN-IITH) at CES 2025 in Las Vegas, USA. Through the production-linked incentive (PLI) scheme for the automobile and auto component industry in India, the company has obtained certification for another product, namely the hub wheel motor for electric two-wheelers. Risk factor: Changes in commodity prices could have a significant effect on the company's manufacturing costs. Even while there are mechanisms in place to monitor and manage market risks, it is not always possible to fully predict, hedge, or lessen the impact of price volatility on the overall profitability of the business through cost pass-throughs or operational enhancements. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Raja Venkatraman is the co-founder of NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Its trade name is William O'Neil India Pvt. Ltd, and its Sebi registration number is INH000015543. 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.
Mint
5 days ago
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 17 July
On Wednesday, the Indian stock market closed on a marginally positive note. Benchmark indices managed to inch into the green after a day marked by choppy movements and selective sectoral strength. Despite early weakness, investor confidence in defensives and specific value-led sectors helped the indices stabilize and end the session with marginal gains. Top 3 Stocks Recommended by Ankush Bajaj for 17 July Buy: PG Electroplast Ltd (PGEL) — Current Price: ₹828.00 Buy: Dixon Technologies Ltd — Current Price: ₹16,099.00 Buy: Uno Minda Ltd — Current Price: ₹1,119.50 Why it's recommended: Uno Minda Ltd is on the verge of breaking out to fresh lifetime highs, backed by strong technical confirmation. The daily RSI is at 68, highlighting robust bullish strength that remains sustainable in the short term. On lower timeframes, the stock has broken out from the upper channel of a triangle pattern, which is a classic continuation setup suggesting that momentum traders are stepping in for further upside. If the stock holds above the breakout zone, it is well placed to test levels around ₹1,150 and higher. Key metrics: Breakout zone: Breakout from the upper channel of a triangle pattern on lower timeframes. Pattern: Triangle breakout indicating a push toward new highs. RSI: Firmly bullish at 68 on daily charts. Technical analysis: Strong price action and pattern confirmation indicate the stock can extend its rally toward ₹1,150– ₹1,155 if the market supports the breakout. Risk factors: A close below ₹1,102 would invalidate this breakout and could lead to a quick pullback. Traders should keep a disciplined stop-loss and manage risk proactively. Buy at: ₹1,119.50 Target price: ₹1,150– ₹1,155 Stop loss: ₹1,102.00 Market Wrap On Wednesday, July 16, 2025, the Indian stock market closed on a slightly positive note on Wednesday, July 16, 2025, as benchmark indices managed to inch into the green after a day marked by choppy movements and selective sectoral strength. Despite early weakness, investor confidence in defensives and specific value-led sectors helped the indices stabilize and end the session with marginal gains. TheNifty 50 ended the day at 25,212.05, rising slightly by16.25 points or 0.06%, while theBSE Sensex added 63.57 points or 0.08% to settle at 82,634.48. The Bank Nifty also closed on a flattish but positive note, up 14.20 points or 0.02%, at 57,246.80, helped by late buying in key financial names. Sectorally, the market remained mixed. The Metal sector declined by0.54%,Healthcare fell by0.34%, andPharma edged down by0.32%, reflecting some profit-taking in high-beta counters. However, other segments offered strong support. ThePSU Bank index led the recovery with a sharp1.81% gain, followed byRealty at0.50%, andFMCG at0.45%, helping balance the session's tone. On the stock-specific front,M&M was the standout performer with an impressive rally of4.76%, whileWipro andSBI gained2.76% and2.67%, respectively, boosted by continued institutional interest and sectoral momentum. Meanwhile, select heavyweights saw profit-booking Finance slipped2.35%,Eternal declined1.54%, andSun Pharma fell1.53%, indicating caution in stocks that had recently run up. Nifty Technical Analysis Daily & Hourly The Nifty ended Tuesday's session (16 July) on a flat note, closing at 25,212.05, up just 16.25 points or 0.06 percent. The index managed to hold above the psychological 25,200 mark but showed no strong follow-through buying, which highlights the ongoing indecision in the market. Technically, the index continues to hover between key moving averages — it is now trading above the 40-day EMA at 25,038 but still remains below the 20-day simple moving average at 25,309. This setup indicates that while immediate downside pressure has eased, the bounce still needs to clear the 20-DMA to neutralise the recent weakness and shift the short-term bias back to neutral. On the hourly chart, the index is trading above its short-term 20-hour SMA at 25,152 but is yet to decisively clear the 40-hour EMA at 25,234. This means the 25,200 to 25,250 zone continues to act as an immediate supply area, and only a firm close above the 40-hour EMA and the 20-day moving average can trigger further short covering and push the index toward 25,350. Momentum signals remain mixed and reflect this indecision. On the daily timeframe, the RSI is at 51, which is slightly positive but still neutral, while the hourly RSI has slipped to 49, showing mild hesitation in the intraday trend. The daily MACD stays positive at 86, indicating that the medium-term trend has not turned outright negative yet, but the hourly MACD remains negative at –12, which shows that short-term momentum is still lacking strength. Options data paints a cautiously improving picture. The total call open interest stands at 17.64 crore while Put OI is at 14.14 crore, leaving a net difference of –3.50 crore, which keeps the overall tone slightly bearish. However, the intraday changes hint at stabilisation as Put OI rose by 1.56 crore while Call OI rose by 1.08 crore, resulting in a positive net change difference of about 47 lakh — a sign of fresh Put writing and some resistance emerging near 25,250. The maximum Call OI remains at the 25,500 strike, suggesting stiff resistance overhead, while the largest addition in Calls was seen at 25,250, reinforcing that this level is the immediate hurdle to watch. On the downside, the maximum Put OI and the highest Put additions are clustered around 25,200 to 25,150, underlining this zone as an important near-term support. Meanwhile, India VIX fell further by 2.09 percent to 11.24, showing that volatility remains contained and the bounce has been orderly so far. The Put-Call Ratio has improved slightly to 0.80, still below 1, indicating a cautious stance but a mild improvement in sentiment compared to the previous session. In summary, the Nifty's short-term structure stays rangebound and somewhat vulnerable unless it sustains a decisive close above 25,250 to 25,300. A breakout above the 20-DMA at 25,309 and the 40-hour EMA at 25,234 could open the way for the index to move toward 25,350 or even 25,500. On the flip side, 25,200 and 25,000 remain the critical support levels, and a break below these could invite fresh selling pressure toward 24,800. Until a clear breakout unfolds, traders should watch for acceptance or rejection around the 25,250 to 25,300 zone and maintain strict stop-losses if trading against the trend. 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.
Mint
6 days ago
- Automotive
- Mint
Recommended stocks to buy today, 16 July, by India's leading market experts
On Tuesday, 15 July, the Indian stock market showed remarkable resilience as it clawed back intraday losses to close on a stronger note. Despite early weakness and broad-based volatility, the market gradually stabilized, buoyed by gains in defensive and auto sectors, reflecting selective buying and investor confidence in quality counters. The Nifty 50 closed at 25,195.80, trimming earlier losses and settling just 113.50 points or 0.45% lower. The BSE Sensex too recovered from deeper intraday cuts to end at 82,570.91, down 317.45 points or 0.39%, as investors rotated into stable and value-led stocks. The Bank Nifty also pared its earlier decline, closing at 57,006.65, down 241.30 points or 0.43%, with support emerging in select financial names. On to the top stock picks for16 July, as recommended by some of India's leading market experts. Three auto stocks to buy today—Ankush Bajaj Why Hero MotoCorp is recommended: Hero MotoCorp is showing a strong bullish setup with clear confirmation across major technical indicators. The stock has broken out from the upper channel of a falling wedge pattern on lower timeframes, which is a classic bullish reversal signal pointing to further upside. On the daily chart, the Relative Strength Index (RSI) is trading above 60, indicating healthy bullish momentum without being overbought—leaving room for the rally to extend. The breakout is supported by decisive price action and sustained buying interest, confirming that the stock is attracting fresh momentum traders. Hero MotoCorp is also holding firmly above key moving averages on both daily and lower timeframes, which reinforces the validity of this breakout. Given the strong technical setup and pattern confirmation, Hero MotoCorp remains a solid candidate for a short-term swing trade. Key metrics Technical analysis: The overall structure remains technically sound, backed by decisive price action and alignment with moving averages. The immediate upside target lies in the ₹4,580-4,600 zone as the breakout plays out. Traders can expect continuation towards this level if the broader market stays supportive and the stock holds above its near-term support levels Risk factors: A close below ₹4,395 would invalidate this breakout setup and indicate a potential short-term pullback. Any sudden reversal or sharp profit-booking near the breakout zone should be watched closely, and traders must maintain strict stop-loss discipline to protect gains. Buy at: ₹4,454.00 Target price: ₹4,580-4,600 Stop-loss: ₹4,395.00 Why TVS Motor is recommended: TVS Motor is showing a strong bullish setup with confirmation across key technical indicators. On the daily chart, the Relative Strength Index (RSI) is holding at 63, indicating healthy bullish momentum with more room for upside before hitting overbought levels. On lower timeframes, the stock has broken out of a well-formed triangle pattern, which is a classic continuation signal suggesting a fresh upward leg in the short term. The breakout is backed by strong price action and sustained buying interest, indicating that momentum traders are actively participating. The stock is trading firmly above key moving averages on both daily and intraday charts, reinforcing the strength of the breakout. Given the clear pattern breakout and supportive momentum indicators, TVS Motor remains a good candidate for a short-term swing trade targeting higher levels. Key metrics Technical analysis: The overall structure remains technically strong with decisive price action and alignment of moving averages supporting the move. The immediate upside target lies in the ₹2,955-2,960 zone as the stock continues its momentum-driven breakout. Traders can expect continuation towards this level if the broader market remains supportive and the stock stays above its near-term support levels. Risk factors: A close below ₹2,845 would invalidate this breakout setup and indicate a potential short-term pullback. Any sudden reversal or profit-booking near the target zone should be watched closely, and traders must maintain strict stop-loss discipline to protect gains. Buy at: ₹2,885.00 Target price: ₹2,955-2,960 Stop-loss: ₹2,845.00 Why Mahindra and Mahindra is recommended: Mahindra and Mahindra is trading in a large consolidation range between ₹3,135 and ₹2,650, showing strong base-building activity over a significant time period. The stock is currently positioned near the higher end of this consolidation band, indicating potential for a breakout above the range. If the price sustains above the upper band, it is expected to trigger fresh buying interest and push the stock towards new highs. The consolidation structure provides a well-defined support and resistance zone, giving traders a clear breakout level to watch. The overall price action remains positive with the stock respecting key support levels and showing signs of accumulation. With the broader market supportive, M&M is well placed to break out of this multi-month range and target higher levels in the short term. Key metrics Technical analysis: The overall structure remains technically solid with a strong consolidation base and clear resistance at the upper band. A sustained move above the range should open the path to the next target zone near ₹3,230. Traders can expect momentum to pick up once the breakout is confirmed, with the stock likely to make new highs if near-term supports hold. Risk factors: A close below ₹3,082 would invalidate this breakout expectation and signal a potential failure of the range breakout. Any sudden reversal near the upper band should be watched closely, and traders must maintain strict stop-loss discipline to protect capital. Buy at: ₹3,128.00 Target price: ₹3,230.00 Stop loss: ₹3,082.00 Stocks to trade today, recommended by Trade Brains Portal for 16 July: Current price: ₹646 Target price: ₹825in 16-24 Months Stop-loss: ₹550 Why it's recommended:Founded in 1995, Tanla Platforms Ltd. has been the top provider of Communications Platform as a Service (CPaaS) in India, accounting for around 35% of the market. It has led the way in mobile and digital communications innovations and is now the preferred partner for more than 2,500 businesses and their users in a variety of industries in India, Southeast Asia, and the Middle East, including well-known international tech firms like Google, Meta, and Truecaller. They are still growing their presence in the Middle East and Southeast Asia, with India continuing to be their main focus market, which makes up over 95% of their business. In FY25, the company reported a 2.5% YoY increase in revenue to ₹4,028 crore, a gross profit of ₹1,051 crore, and margins of 26.1%. Ebitda was ₹691 crore for the entire year, with an Ebitda margin of 17.2%. The profit margin was 12.6%, with a profit after tax of ₹507 crore. The free cash flow was ₹514 crore, or 101% of profit after taxes, and the earnings per share were ₹37.76. In order to prevent scams on their messaging platform by detecting fraud phone numbers, the company signed agreements with one of the Global Tech Majors on Wisely ATP in Q1 FY25. The company launched Wisely ATP with another top Indian bank in Q2 FY25 and was the first to introduce and execute Call to Action (CTA) whitelisting on the Trubloq platform. The company was one of the top players in the world in Q3 of FY25, delivering one billion RCS business messages in a month. The company is the first to introduce and use PE/TM binding on the Trubloq platform later in Q3. Additionally, the company's subsidiary Karix has worked with a number of partners, including Makemytrip (MMT), Chennai Metro Rail Limited (CMRL), and Axis Bank, to digitise ticketing and enhance customer engagement in various services. The company continues to work with global Internet tech giants like Google and Meta to accelerate the adoption of OTT channels in India. In FY25, their OTT channel doubled in size, and almost one-third of their 400 new customers were on new OTT channels. Risk factors: Tanla is particularly exposed to the possibility of technical failure because it works in a rapidly evolving digital environment. Because of shifting market dynamics and advancements in communication technology, existing CPaaS solutions run the real danger of becoming less competitive over time. Tanla's reputation and clientele may suffer as a result of system malfunctions and potential hacks that steal confidential customer data. Current price: ₹1,478 Target price: ₹1,750 in 16- 24 Months Stop-loss: ₹1,310 Why it's recommended: One of India's top City Gas Distribution (CGD) firms, Mahanagar Gas was founded in 1995 and serves a wide range of clientele in its operating Geographical Areas (GAs) by meeting their various needs. More than 2.83 million PNG households and 1.11 million CNG vehicle users are served by its infrastructure, which includes more than 7,460 km of pipeline and 385 CNG stations. MGL has played a key role in establishing gas infrastructure and encouraging gas use among a range of consumers throughout the Mumbai Metropolitan Region (MMR), including Mumbai, Urban Thane, Navi Mumbai, Kalyan, and others, for more than thirty years. Revenue for FY25 was ₹6,924 crore, up 10.87% from FY24's ₹6,245 crore, according to the company. Over the past four years, it has grown at a 34% CAGR. Ebitda was ₹1,510 crore, while gross profit was ₹2,466 crore. The gross margin was ₹16.51/SCM, which was more than the FY22 gross margin of ₹13.61/SCM. The average sales realization was ₹46.54/SCM, higher than FY21's ₹26.42/SCM. Over the past four years, PAT has grown at a 14% CAGR to reach ₹1,045 crore. As of FY25, ROE was 18.94%. The company wants to expand its customer base in all regions for both PNG and CNG. The market penetration of CNG will rise as more OEMs prepare to introduce CNG-based automobiles. The business intends to invest approximately ₹1,300 crore in FY26 and ₹150 crore in MGL's subsidiary, UEPL. Approximately ₹500 crore would be spent on PNG, including pipelines, and ₹300 crore will be spent on CNG. Within the next five years, 250 CNG filling stations and 180 km of steel pipeline are planned. In order to diversify into new markets or bolster its current ones, the company has made a number of acquisitions and partnerships and is growing into various energy-related subsegments. Risk factors: Delays caused by prolonged authorization procedures typically have an impact on the company's project implementation. The installation of CNG stations and an increase in pipeline infrastructure would be necessary to streamline the procedure. Also, exorbitant costs and a lack of available land make it difficult to establish new CNG stations in the company's operating areas. MarketSmith India's best stock recommendations for today, 16 July Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Its trade name is William O'Neil India Pvt. Ltd, and its Sebi registration number is INH000015543. 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. 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