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Mint
4 days ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50, global markets, to Q1 results today; Eight stocks to buy or sell on Friday
Stock Market Today: The weakness in the market continues as the benchmark Nifty-50 index at 25,062.10 ended 0.63% lower on Thursday. The Bank Nifty at 57,066.05 was also down 0.25%, while the IT and Realty Index were key losers, and only a few, such as Pharma and Healthcare, stood among the gainers. The mid and small caps also ended 0.58-1.09% lower. For the short term, immediate support for the Nifty is seen at 24,882. On the upside, unless 25255 is taken out decisively, traders should take a cautious stance, said Nandish Shah - Deputy Vice President, HDFC Securities. For Bank Nifty, immediate support is seen in the 56,000–55,700 zone, as per Bajaj Broking. In summary, Thursday's session painted a cautionary picture, and strong domestic earnings from banks couldn't offset widespread disappointment in IT and continued global trade concerns. With earnings and geopolitics in focus, investors will be watching for clarity on trade deals and recovery cues from tech fundamentals,' said Vikram Kasat, Head - Advisory, PL Capital. Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: Eternal Ltd , Fortis Healthcare Ltd., Glenmark Pharmaceuticals Ltd., Tata Chemicals Ltd., Zydus Wellness Ltd., Surya Roshni Ltd., and Welspun Living Ltd. 1. Eternal Ltd-Bagadia recommends buying ETERNAL at around ₹ 313.15, keeping Stop Loss at ₹ 302 for a target price of ₹ 336 ETERNAL is currently trading at ₹ 313.15 and has recently reached a new all-time high at 314.45, underscoring its strong bullish momentum. The stock continues to maintain an upward price structure marked by higher highs and higher lows, indicating sustained buying interest. The breakout to a new high reflects a shift in sentiment and robust demand. 2. Fortis Healthcare Ltd—Bagadia recommends buying FORTIS at around ₹ 846.55, keeping Stop Loss at ₹ 817 for a target price at ₹ 906 FORTIS is currently trading at ₹ 846.55 and is exhibiting strong signs of recovery, backed by a consistent formation of higher highs and higher lows. The stock has posted bullish candlesticks for four consecutive sessions and recently touched a fresh all-time high of ₹ 849, reflecting sustained upward momentum and the potential emergence of a long-term trend continuation. Rising volumes further reinforce the bullish sentiment, indicating heightened investor participation. 3. Glenmark Pharmaceuticals Ltd—Dongre recommends buying GLENMARK at around ₹ 2143, keeping the stop loss at ₹ 2100 for a target price of ₹ 2200 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2143 and maintaining strong support at ₹ 2100. The technical setup indicates the potential for a price retracement towards the ₹ 2200 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 ₹ 2100 offers a prudent approach to capturing the anticipated upside. 4. TVS Motor Company Ltd—Dongre recommends buying TVSMOTOR at ₹ 2800, keeping the stop loss at ₹ 2760 for a target price of ₹ 2885. Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2800 and maintaining strong support at ₹ 2760. The technical setup indicates the potential for a price retracement towards the ₹ 2885 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 ₹ 2760 offers a prudent approach to capturing the anticipated upside. 5. Tata Chemicals Ltd—Dongre recommends buying TATACHEM at ₹ 948, keeping stop loss at ₹ 930 for a target price of ₹ 985 In the latest short-term technical analysis, the stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 948 and holding above a key support level at ₹ 930. 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 ₹ 930 to manage downside risk. The target for this trade is set at ₹ 985, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. Zydus Wellness Ltd—Koothupalakkal recommends buying ZYDUS WELLNESS at around ₹ 2138 for a target price of ₹ 2220, keeping the stop loss at ₹ 2100 The stock with a positive candle formation on the daily chart has been in a rising trend with bias getting better, and we can anticipate a further rise with volume participation visibly looking significant. The RSI is well positioned, indicating a buy signal, and with much upside potential visible, it 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 the 2220 level, keeping the stop loss of 2100 level. 7. Surya Roshni Ltd-Koothupalakkal recommends buying SURYA ROSHNI at around ₹ 347, keeping target price of ₹ 365, and keeping a stop loss of ₹ 338 The stock with a higher bottom formation has indicated a strong spurt in the last two sessions, taking support near the important 50EMA zone at ₹ 324 levels, and with gaining strength, we can anticipate a further rise. The RSI, after correcting from the overbought zone, is currently well placed, indicating a positive trend reversal to signal a buy, and can carry on with the positive move further ahead in the coming sessions. With the chart technically looking attractive, we suggest buying the stock. 8. Welspun Living Ltd-Koothupalakkal recommends buying WELSPUN LIVING at around ₹ 141 for a target price of ₹ 152, keeping Stop loss at Rs137 The stock has been in consolidation for quite some time, with the current indication of a bullish candle with rising volume participation. This has improved the bias, and we can expect a continuation of the positive move further ahead. The RSI has indicated strength, which is currently well poised for further upward movement with much upside potential visible. With the chart technically looking good, we suggest buying the stock. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
16-07-2025
- Business
- Mint
Best stocks to buy today, 16 July, recommended by NeoTrader's Raja Venkatraman
Tariff war seems to be getting discounted as it was unable to really trigger any further negative bias. This was a positive trigger that encouraged the market participants as they slowly but steadily participated towards the close of the session. While hesitation continues to weigh in the sentiment is clearly fragile. Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Wednesday, 16 July. FORTIS (Cmp 799.25) FORTIS: Buy above 800 and dips to ₹780, stop ₹770 target ₹865-880 Why it's recommended: Fortis Healthcare is experiencing several positive trends, in the form of strong core hospital business growth, margin expansion, and a rebound in diagnostic business performance. With a strong thrust above the cloud the prices are hinting at some possible upside in the counter. After facing some resistance around 325 region the prices are steadily heading higher. Post surpassing this level the rise in momentum supported by steady volumes are highlighting possibility of more upward traction. Key metrics: P/E: 947.98, 52-week high: ₹813, Volume: 2.21M. Technical analysis: Support at ₹275, resistance at ₹500. Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns. Buy at: CMP and dips to ₹780. Target price: ₹865-880 in 1 month. Stop loss: ₹770. GREAVESCOT (Cmp 212.48) GREAVESCOT: Buy CMP and dips to ₹201, stop ₹195 target ₹225-240 Why it's recommended: Greaves Cotton, a diversified engineering company in India, is experiencing several tailwinds across its business segments, especially in the context of India's economic growth and the burgeoning electric vehicle market. As momentum remains strong with robust volume lead breakout after a phase of consolidation shows signs of bottoming out. Consider going long at current levels and also on dips. Key metrics: P/E: 26.61, 52-week high: ₹319.50 Volume: 5.03M. Technical analysis: Support at ₹185, resistance at ₹250. Risk factors: Highly cyclical industry, leading to unpredictable earnings and cash flows. Buy at: CMP and dips to ₹201. Target price: ₹225-240 in 1 month. Stop loss: ₹195. MAHABANK (Cmp 57.17) MAHABANK: Buy above 58 and dips to ₹52.50, stop ₹50 target ₹63-65 Why it's recommended: The stock has been on a steady upward bounce and every dip that it had been undergoing some steady consolidation since last 8 days until this July when prices started bottoming out. On back of robust results the strong upmove seen in the prices are signalling possibility of more upward traction. Consider a long opportunity. Key metrics: P/E: 7.97, 52-week high: ₹70.75 Volume: 27.38M. Technical analysis: Support at ₹45, resistance at ₹80. Risk factors: Sluggish growth, negative quarterly results, and reduced institutional investor participation. Buy at: above 58 and dips to ₹52.50. Target price: ₹63-65 in 1 month. Stop loss: ₹50. Stock market today After four straight red sessions, Indian benchmarks finally caught a bid on July 15, with Nifty closing around 25,200. The trigger: June's retail inflation cooled to 2.1 percent—its lowest in 77 months—fueling fresh buying. Eyes now shift to the reaction to the US CPI print for the next directional cue. The day opened flat, but bulls seized momentum midmorning, driving Nifty toward intraday resistance near 25,250. Sector wide accumulation powered gains, lifting Sensex by 317 points (0.39%) to 82,571 and Nifty by 113.5 points (0.45%) to 25,196 at the close. All major sectors ended in the green. Pharma, autos, media, PSU banks, consumer durables, and realty stocks rallied 0.5–1%. Meanwhile, BSE Midcap and Smallcap indices extended the bounce, climbing nearly 1% for a second straight day. Overall, the market looks primed for a breakout—provided the US CPI doesn't spook bulls. Short-term traders will watch support at 25,100 and resistance at 25,300 closely. Outlook for trading After some fast-paced decline triggered by the geopolitical tensions the market tested our patience on Tuesday but did not give up the lower levels. The revival seen on Tuesday has clearly confirmed after the last few days the Nifty managed to hold on and did not give up, as the overall sentiment continues to favour the buyers. In the last report we had mentioned 'From the charts above we can see that the trends are down into some strong set of supports yet again." As we can note on the charts the markets moved very much in line to head lower as the trends could not muster enough momentum. One the charts we note that the KS line has been held and potential to move higher has now opened. Taking some cues from the Option data, we can add that the higher levels around 24800 that had steady Call writers have now moved to 25500 and the lower side remains open with some meaningful Put writing at 25000 highlighting that if the selling steps up there is some OI to absorb the negative bias. The trend that is emerging clearly suggests that the dips seen until last week managed to hold the support zone and the gap down opening was covered to ensure that the prices traded above the range area that developed in the last few days. Hence , one should track the trends that are in progress as upmove needs to hold their positive reaction from 25000 (Nifty Spot)to renew the bullish bias. Momentums on intraday charts are indicating that the prices after revival seems to be biding some time to decide on the next course of. With the gradual and hesitant rise emerging from lower levels we can expect the rise to test our patience. For undertaking shorts, we need to see Nifty move above 25000 which is the immediate support as per the Open Interest data. If we witness a 30-minute range breakout on Wednesday we can consider to trade on either side as the trends still remain tentative where we expect some resistances to kick in. While the trends in the indices are still unclear there is plenty of action as far as the stocks are concerned. Raja Venkatraman is the co-founder of 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.
