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Mint
23-07-2025
- Business
- Mint
Best stocks to buy today, 23 July, recommended by NeoTrader's Raja Venkatraman
A day after ending with decent gains, the Indian stock market resumed its downward march on Tuesday, amid weak global cues. The market benchmarks ended flat with a negative bias. The Sensex slipped 14 points to close at 82,186.81, while the Nifty 50 settled at 25,060.90, down 30 points, or 0.12%. The mid and small-cap segments underperformed. The BSE Midcap index lost 0.62%, while the Smallcap index dropped 0.17% Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Wednesday, 23 July NYKAA (Cmp 220.03) ESCORTS (Cmp 3443.60) TATACHEM (Cmp 962.65) Stock Market Recap Indian benchmark indices opened positively on Tuesday, supported by robust Q1 earnings from leading private banks and Eternal (Zomato). The Nifty commenced trade at 25,166.65, briefly maintaining momentum before dipping to an intraday low of 25,035.55. Meanwhile, Sensex began at 82,527.43 and fluctuated between 82,538.17 and 82,110.63, marginally above its previous close of 82,200.34. Initial optimism was tempered by global uncertainties, with traders adopting a cautious stance ahead of the August 1 deadline for a potential U.S. trade agreement. Despite early gains, both indices traded flat through most of the session, reflecting market hesitancy. The broader sentiment remains optimistic, driven by strong domestic earnings, although global cues are prompting short-term caution. Analysts continue to watch for developments in the trade deal and commentary from central banks, which may offer directional clarity in the coming sessions. Outlook for Trading Nifty has been weak, and the sustained bearish pressure seen on every rally indicates that it is inclined for some downward bias as the trends are unable to head higher. While sector rotation is happening, we are reaching a point where the indices have become divergent. HDFC Bank has been under a great deal of stress, and despite some decent numbers, the stock could not impact the market condition. As we have been discussing, the trends were expected to head into the upper end of the value resistance zone as the indicators were tiring out. The rise witnessed in Bank Nifty is seen struggling as the attempt to hold on is seen fizzling out, as bearish pressure is emerging at higher levels. Currently, due to a lack of triggers, we are witnessing a range of actions that could keep the trends from recovering swiftly. A look at Bank Nifty indicates that until 56000 is given away, till then bulls will attempt to rebound. Bank Nifty is a sector that should be tracked. Until 57500 is exceeded we could look at stock specific action where there are divergent views been displayed across all the component stocks. PSU Banks are having it rough and the erratic vibes being exhibited shall make it difficult for the Bank Nifty to recover. This in turn will spill over to the other sectors like Auto, Realty and Finance. Despite marketson Monday showing some prowess of a recovery the inability of Bank Nifty to clear the 57500 mark seems limited ahead of the event. Till then this index holds the key for some trends to emerge. Meanwhile the current scenario has . Now, we need to see Nifty move above 25100 which is the immediate resistance for some bullish revival as well as the max pain point that will continue to halt any progress. With the Open Interest data clearly indicating a hurdles at higher levels one should keep tracking a 30-minute range breakout on Wednesday above this level for creating some long. As indices are not showing much declines one should look to participate in some stock specific action. 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.
Mint
11-07-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Friday — 11 July 2025
Stock Market Today: The Nifty-50 Index ended 0.47% lower at 25,355.25 on Thursday amid caution ahead of Q1 results and tariff-related concerns. Bank Nifty at 56,956.00 also ended 0.45% lower, while IT, FMCG, and Pharma were other key index losers, though Metals and Realty managed to gain. The broader indices ended around 0.3% lower. In the short term, the trend for Nifty is likely to remain weak, which could lead to further downside. On the lower end, support is placed at 25,250–25,200, while on the higher end, resistance levels are seen at 25,400 and 25,500." as per Rupak De, Senior Technical Analyst at LKP Securities. The Bank Nifty index is showing resilience above the 20-day simple moving average (SMA), which is acting as dynamic support near 56,500, as per Reliance Securities. Indian equities concluded the day in the red, weighed down by weakness in IT stocks ahead of TCS's Q1 results. Investor sentiment remains cautious ahead of the Q1 results in anticipation of a muted start to the season from the IT and finance sectors, said Vinod Nair, Head of Research, Geojit Investments Limited. However, the recent consolidation in the IT stocks largely factors in the muted outlook, limiting further worries, added Nair. The mid- and small-caps had limited negative action, reflecting a wait-and-watch approach amid rising expectations of a better earnings outlook compared to large caps, said Nair. The market is likely to consolidate in the near term, tracking progress on India–US trade talks, feel other experts. 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: FSN E-Commerce Ventures Ltd (NYKAA), Glenmark Pharmaceuticals Ltd, SBI Life Insurance Company Ltd, ICICI Prudential Life Insurance Company Ltd, BF Utilities Ltd, Hubtown Ltd, and Paramount Communications Ltd. FSN E-Commerce Ventures Ltd (NYKAA): Bagadia recommends buying FSN E-Commerce Ventures, or NYKAA, at around ₹ 217.14, keeping the stop loss at ₹ 209 for a target price of ₹ 235 NYKAA is currently trading at 217.14 and continues to display strong bullish momentum on the daily chart. The stock has recently broken out of a consolidation phase, establishing a higher high and higher low formation, which is indicative of a continued uptrend. This breakout has been supported by increasing volumes, reflecting strong buying interest and participation. The price action has convincingly moved above previous swing highs, turning former resistance levels into support. Furthermore, the stock is trading well above all major exponential moving averages. 2. Glenmark Pharmaceuticals Ltd—Bagadia recommends buying GLENMARK at around ₹ 1904, keeping Stop Loss at ₹ 1837 for a target price of ₹ 2040 GLENMARK is currently trading at 1904 and has recently reached a new all-time high at 1920, 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. The price remains well-supported above its 20, 50, 100, and 200-day Exponential Moving Averages, all of which are sloping upwards. 3. SBI Life Insurance Company Ltd—Dongre recommends buying SBILIFE at around ₹ 1810, keeping stop loss at ₹ 1775 for a target price of ₹ 1875 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1810 and maintaining strong support at ₹ 1775. The technical setup indicates the potential for a price retracement towards the ₹ 1875 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 ₹ 1775 offers a prudent approach to capturing the anticipated upside. 4. NHPC Ltd- Dongre recommends buying NHPC at around ₹ 87, keeping Stoploss at ₹ 83 for a target price of ₹ 92 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 87 and maintaining a strong support at ₹ 83 The technical setup indicates the potential for a price retracement towards the ₹ 92 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 ₹ 83 offers a prudent approach to capturing the anticipated upside. 5. ICICI Prudential Life Insurance Company Ltd—Dongre recommends buying ICICIPRULI at around ₹ 673, keeping stop loss at ₹ 652 for a target price of ₹ 695. 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 ₹ 673 and holding above a key support level at ₹ 652. 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 ₹ 652 to manage downside risk. The target for this trade is set at ₹ 695, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. BF Utilities Ltd—Koothupalakkal recommends buying BF UTILITIES at around ₹ 851.95 for a target price of ₹ 890, keeping the stop loss at ₹ 835 The stock, after a short period of consolidation, has started gaining strength, with bullish candle formation visible on the daily chart. Currently moving past the significant 200-period MA at the ₹ 828 level has improved the bias, and we can anticipate a further rise in the coming sessions. The volume participation has been on the rise, and with the RSI gaining strength with a steady rise, it signaled a buy, and with much upside potential visible from the current rate, we can expect further gains. With the chart looking good, we suggest buying the stock. 7. Hubtown Ltd—Koothupalakkal recommends buying HUBTOWN at ₹ 299.35 for a target price of ₹ 314, keeping Stop loss: at ₹ 293 The stock has witnessed a strong, consistent upward move in recent times, gathering strength and moving past the important 200-period MA at the ₹ 242 level, and currently, with the undertone maintained strong and with decent volume participation visible, we anticipate a further rise in the coming sessions. The RSI has indicated tremendous strength and can carry on with the positive move further ahead in the coming sessions. With much upside potential visible and the chart technically looking good, we suggest buying the stock for an upside target of 314, keeping the stop loss at the 293 level. 8. Paramount Communications Ltd-Koothupalakkal recommends buying Paramount Communications or PARAMOUNT CABLES at ₹ 60.87 for a target price of ₹ 65, keeping Stoploss at ₹ 59 The stock has recently indicated a gradual rise to improve the bias moving past the important 50EMA zone at the ₹ 55 level, and currently with a positive bullish candle, it has further shown strength to carry on with the positive move further ahead. The RSI has been on the rise, picking up strength, and with the chart setup technically looking attractive, we suggest buying the stock. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
