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Mint
3 days ago
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 12 June
On Wednesday, Nifty 50 closed with a modest gain at 25,141 as profit-booking in financial and banking stocks weighed on sentiment. The market's mood remained cautious amid mixed global cues ahead of key US-China trade talks. Gains in IT, pharma, and energy stocks helped offset losses in PSU banks and FMCG. While the RBI's supportive stance offered some comfort, stretched valuations and muted global trends limited the upside. Meanwhile, the smallcap and midcap indices ended their multi-session winning streak, declining due to broad-based profit booking. Two stock recommendations for today by MarketSmith India Also read: Rally in SBI Card may have priced in improved outlook How Nifty 50 performed on 11 June Bulls staged a comeback on Wednesday, pushing Nifty 50 above 25,200 intraday for the first time since 15 October 2024. However, the index was unable to sustain those gains and closed with only a marginal upside. The session's price action led to the formation of a Doji candle on the daily chart, signaling indecision and a tug-of-war between bulls and bears. PSU banks, financial services, and FMCG stocks underperformed due to profit booking, while IT, pharma, and energy stocks outperformed. Broader market participation was largely neutral, as reflected in a balanced advance-decline ratio of about 1:1. From a technical perspective, the index continues to trade above all its key moving averages across multiple timeframes, reinforcing the underlying bullish sentiment. The relative strength index (RSI) has turned upward and is currently hovering near 62–63, reflecting strengthening momentum. However, the MACD remains in a negative crossover, indicating that a clear bullish confirmation is yet to emerge. Importantly, a recent golden crossover, where the 50-DMA crosses above the 200-DMA, has formed on the daily chart, signaling a potential resurgence in medium- to long-term bullish momentum. Also read: Bata's turnaround is taking time—and the market's patience is wearing thin According to O'Neil's methodology of market direction, Nifty has reclaimed its recent high of 25,116 and is now trading firmly above all its key moving averages. As a result, the market condition has been upgraded from an uptrend under pressure to a confirmed uptrend. Nifty 50 closed the session on a positive note, reclaiming its recent high and confirming its ongoing bullish trend. The index is once again approaching its resistance zone, and a decisive breakout above 25,200 could pave the way for an extended rally toward 25,700–25,800. On the downside, immediate support is positioned around 24,600, which may act as a cushion in the event of any pullbacks. How did Nifty Bank perform? On Wednesday, Nifty Bank opened flat and remained in negative territory for the majority of the session. Nifty Bank has formed a second consecutive bearish candle on the daily chart with a lower-high and lower-low price structure. The index lost around 0.30% intraday. From a technical perspective, the index maintains a robust position, above its key moving averages across all major timeframes, reinforcing its strong bullish momentum. The RSI continues its upward trajectory on both the daily and weekly charts, currently hovering near 63 on the daily timeframe. The daily MACD indicator is exhibiting a positive crossover, remaining above the central line on both the daily and weekly charts, further supporting the bullish outlook. Also read: Lower crude brings relief to Mahanagar Gas amid falling APM gas allocation According to O'Neil's methodology of market direction, Nifty Bank recently transitioned from an uptrend under pressure to a confirmed uptrend, highlighting renewed strength and resilience in the broader trend. The index continues to display a strong bullish sentiment across multiple timeframes, trading in record territory. However, it faces resistance near 57,000, which has limited its gains over the past few sessions. While the overall bullish trend and sentiment point to a likely continuation of the uptrend, a phase of technical consolidation around these all-time high levels remains a possibility. The index could establish a broad trading range between 56,000 and 57,000 before potentially resuming its upward trajectory toward 58,500–59,000 in the coming days. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 9 June
On Friday, the Nifty 50 surged 1.02% to close above 25,000, driven by the RBI's unexpected 50-basis-point repo rate cut and a 100bps CRR reduction, aimed at boosting liquidity and economic growth. This aggressive monetary easing lifted investor sentiment and triggered strong buying, especially in rate-sensitive sectors like realty, financials, autos, and metals. The RBI's shift to a neutral stance further supported the rally, resulting in broad-based market participation. Two stock recommendations for today, 9 June, by MarketSmith India: KEI Industries Ltd (current price: 3747.8) Why it's recommended: Strong market position, diversified revenue streams, strong product portfolio, and innovation Key metrics: P/E: 49.96 | 52-week high: ₹5,039.70 | Volume: ₹158.97 crore Technical analysis: Reclaimed 200 EMA Risk factors: Raw material price fluctuations, competitive pressure Buy at: ₹3,747.8 Target price: ₹4,290 in three months Stop loss: ₹3,490 Also Read: United Spirits is on a high after RCB's IPL win, JP Morgan upgrade and UK FTA. Can it keep buzzing? Bajaj Housing Finance (current price: ₹125.66) Why it's recommended: Strong market position, strong financial performance Key metrics: P/E: 174.44, 52-week high: ₹ 188.50, volume: ₹ 262.89 crore Technical analysis: Reclaimed 100-EMA Risk factors: Interest rate risk, regulatory risks, macro-economic risks Buy at: ₹125.66 Target price: ₹150 in three months Stop loss: ₹115 Nifty 50: How the benchmark index performed on 6 June On Friday, the Nifty 50 opened on a subdued note and witnessed volatility during the initial hour of trade. However, sentiment improved significantly following the RBI policy announcement, propelling the index past 25,000 intraday. The day's price action resulted in the formation of a strong bullish candlestick on the daily chart, with the index closing near the session's high. All major sectoral and broader market indices ended in positive territory. Notably, Nifty Realty, Metal, Banking & Financials, and Auto sectors outperformed, while Pharma, Energy, and FMCG lagged. The broader market participation remained robust, with the advance-decline ratio improving to 4:3, reflecting a healthy market breadth. From a technical perspective, the Nifty 50 is now trading above all its key moving averages across multiple timeframes, indicating underlying strength. The relative strength index (RSI) has turned upward and is currently hovering near 60, reflecting improving momentum. However, the MACD continues to display a negative crossover and has yet to confirm a sustained bullish trend. On a positional basis, a golden crossover, where the 50-DMA crosses above the 200-DMA, has occurred on the daily chart, signalling a potential resurgence of medium- to long-term bullish momentum. Also Read: Can this microfinance lender lead the industry's turnaround in FY26? As per O'Neil's methodology of market direction, the market status has been downgraded to "Uptrend Under Pressure" from 'Confirmed Uptrend" on 4 June. The Nifty 50 ended the session around 25,000 with a positive bias. However, for the index to exhibit further bullish strength, a sustained breakout and close above 25,200 is essential. Post-RBI policy announcement, overall market sentiment has turned positive, thereby increasing the likelihood of a near-term breakout. A decisive move above 25,200 could accelerate the upward momentum, potentially driving the index toward 25,700–25,800 in the coming weeks. On the downside, immediate support is placed near 24,500. How did the Nifty Bank perform yesterday? On Friday, the Nifty Bank decisively broke above 56,000, following the RBI policy announcement, after consolidating for five consecutive weeks. The index closed near the day's high in uncharted territory, registering a gain of 1.47% and forming a strong bullish candlestick on the daily chart. Additionally, a breakout above an ascending triangle pattern on the daily timeframe was observed, supported by robust price and volume action. On a weekly basis, the index advanced approximately 1.48% and formed a bullish candlestick, reinforcing the positive momentum. From a technical standpoint, the index is now trading above all its key moving averages across multiple timeframes, supported by strong positive momentum. The daily and weekly relative strength index (RSI) are trending upward, reflecting strengthening buying interest. Notably, the MACD has formed a positive crossover on the weekly chart, reinforcing the bullish trend. However, on the daily timeframe, the MACD continues to exhibit a negative crossover and would need to turn positive to confirm short-term strength. Additionally, the ADX/DMI indicator on the weekly chart also signals a firm bullish trend, further validating the upward bias. According to O'Neil's methodology market direction, the Nifty Bank has recently transitioned from an 'Uptrend Under Pressure" to a more constructive phase of a 'Confirmed Uptrend," highlighting renewed strength and resilience in the broader trend. Also Read: Russia-Ukraine war escalation: Impact on the Indian stock market The index is currently trading with a positive bias across multiple timeframes and is now navigating uncharted territory. As long as it remains above 56,000, the overall outlook remains positive. The recent breakout indicates potential for the index to advance toward 58,500–59,000 in the near term. Conversely, a breach below 56,000 could lead to a phase of sideways consolidation. Notably, the RBI's recent policy measures have had a significant positive impact on the sector, and it is likely to remain buoyant in the coming weeks. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, developed by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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
06-06-2025
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 6 June
On Thursday, the Nifty 50 gained 0.60%, closing at 24,750, driven by strong performances in RIL, ICICI Bank, and HDFC Bank. Barring the Nifty Realty, Pharma, and Metal, the indices performed well, lifting the overall market sentiment. Optimism ahead of the RBI's expected rate cut and supportive global cues, including lower US yields and a softer dollar, boosted sentiment. Two stock recommendations for today, 6 June, by MarketSmith India: Zydus Lifesciences Ltd (current price: ₹955) Why it's recommended: Strong financial performance, strategic acquisitions and expansion, and consistent R&D investment Key metrics: P/E: 19.92 | 52-week high: ₹1,324.30 | Volume: ₹171.80 crore Technical analysis: Reclaimed 200-EMA Risk factors: Regulatory and compliance risks, market and competitive risks Buy at: ₹955 Target price: ₹1,080 in three months Stop loss: ₹897 Also read: Can this microfinance lender lead the industry's turnaround in FY26? Himadri Speciality Chemical Ltd (current price: ₹497) Why it's recommended: Monopoly position in railway financing, rising capital outlay for railways Key metrics: P/E: 42.91 | 52-week high: ₹ 674 | Volume: ₹159.70 crore Technical analysis: Downward sloping trendline breakout Risk factors: Interest rate sensitivity Buy at: ₹497 Target price: ₹575 in three months Stop loss: ₹460 Also read: Russia-Ukraine war escalation: Impact on the Indian stock market Nifty 50: How the benchmark index performed on 5 June On Thursday, the Nifty 50 opened on a positive note and extended its bullish momentum as it crossed the 21-day moving average (21-DMA) during early trade and remained above it throughout the session. The price action resulted in the formation of a second consecutive green candle on the daily chart. However, it had a long upper wick, indicating some intraday profit booking at higher levels. Barring the Nifty Auto, all other sectoral indices ended on a flat to positive note. Additionally, strong performance in the broader markets supported market breadth, improving the advance-decline ratio to 3:2. From a technical standpoint, the index crossed and closed above the 21-DMA. However, it continues to trade within a broader sideways range. The relative strength index (RSI) has turned upward and is currently positioned around 55, suggesting improving momentum. However, the MACD remains in a negative crossover and is trending downward, reflecting the absence of a clear bullish confirmation in the near term. On a positional basis, the 50- and 200-DMA have formed a golden crossover on the daily chart, signalling a potential return of medium- to long-term bullish momentum. As per O'Neil's methodology of market direction, the overall market status has been downgraded to an "Uptrend Under Pressure" from a 'Confirmed Uptrend" on 4 June. The Nifty 50 has reclaimed its 21-DMA and closed above it with a positive bias. Sustaining above this level will be crucial for the index to advance toward 25,000–25,200 in the near term. A decisive breakout above 25,200 could further strengthen the bullish momentum, potentially propelling the index toward the 25,700–25,800 zone in the coming weeks. On the downside, immediate support is seen near 24,600, followed by 24,500–24,400. How did the Nifty Bank perform yesterday? On Thursday, the Nifty Bank traded within a sideways range and ended with a marginal gain of 0.15%. The index opened on a positive note but exhibited significant intraday volatility, moving in a choppy, roller-coaster fashion. The price action resulted in the formation of a long-legged Doji candle on the daily chart, reflecting indecisiveness near its all-time high levels. Technically, the index has been consolidating in a narrow range around its record high for the past five weeks, suggesting the potential development of a bullish continuation pattern on the daily timeframe. Also Read: Analysts and investors have soured on Asian Paints. Can it prove them wrong? From a momentum perspective, the relative strength index (RSI) is currently moving sideways within a bullish zone, hovering around 61. However, the Moving Average Convergence Divergence (MACD) continues to exhibit a negative crossover, reinforcing a cautious undertone. This divergence between momentum indicators suggests that the upside potential remains constrained unless fresh buying emerges, particularly on a sustained move above the key resistance level of 56,000. According to O'Neil's methodology of market direction, the Nifty Bank has recently transitioned from an 'Uptrend Under Pressure" to a more constructive phase of a 'Confirmed Uptrend", highlighting renewed strength and resilience in the broader trend. The Nifty Bank is currently consolidating near its all-time high but continues to encounter resistance around 56,000. A decisive breakout and sustained close above this threshold are essential to reaffirm bullish momentum and potentially trigger a rally toward 57,500–58,000. In the absence of such a breakout, the index is likely to remain range-bound within its ongoing consolidation phase. On the downside, immediate support is placed near 55,000, with the next significant level at 54,500. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, developed by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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
04-06-2025
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 4 June
On Tuesday, the Nifty 50 dropped 0.70%, closing below 24,542 amid an increased volatile trading day. The decline was driven by weakness in the financial, energy, and IT sectors. Additionally, sharp losses in Adani Group stocks followed reports of a US investigation into alleged violations of Iran sanctions. Global trade tensions, caution ahead of the Reserve Bank of India policy meeting, rising US bond yields, and fluctuating oil prices added to investor concerns. Two stock recommendations for today, 3 June, by MarketSmith India: Gujarat State Fertilizers & Chemicals Ltd (current price: 208.42) Why it's recommended: Strong R&D capability, robust financial position. Key metrics: P/E: 13.74 | 52-week high: ₹ 274.70 | Volume: ₹155.17 crore Technical analysis: Reclaimed its 200-DMA Risk factors: Volatile raw material prices, monsoon dependency, and environmental compliance Buy at: ₹208.42 Target price: ₹240 in three months Stop loss: ₹195 Also Read: Analysts and investors have soured on Asian Paints. Can it prove them wrong? Gujarat Narmada Valley Fertilizers & Chemicals Ltd (current price: ₹551) Why it's recommended: Diversified revenue streams, strategic expansion plans. Key metrics: P/E: 13.45 | 52-week high: ₹677 | Volume: ₹103.13 crore Technical analysis: Bullish flag pattern breakout Risk factors: Commodity price volatility Buy at: ₹551 Target price: ₹610 in three months Stop loss: ₹525 Nifty 50: How the benchmark index performed on 3 June On Tuesday, Nifty 50 opened the session on a positive note. However, it failed to remain in the positive zone during the first few minutes of the trade. Persistent selling pressure through the day dragged the index lower, resulting in a close near the session's low. This intraday reversal led to the formation of a bearish candlestick on the daily chart, indicating waning bullish momentum and the potential for a short-term trend reversal. Market breadth remained weak, with the advance-decline ratio settling negatively at 2:3. Also Read: These five private banks in India have the lowest NPAs. Should you invest? Technically, the index breached its 21-DMA on a closing basis, indicating a deterioration in short-term price and momentum trends. The recent price action suggests that sellers are gradually gaining control, as reflected in the increased volatility over the past few weeks. The relative strength index (RSI) is trending downward and is currently hovering around 50, while a negative crossover in the MACD further reinforces the weakening momentum. The index has breached its 21-DMA along with nine distribution days, signaling weakening short-term momentum. Hence, as per O'Neil's methodology of market direction, the overall market status has been downgraded to an "Uptrend Under Pressure" from a 'confirmed uptrend". Nifty50 is now trading below its 21-DMA on the daily chart with a negative bias. The index is currently trending sideways with a negative bias, and immediate support is placed around 24,500–24,400. A further breach below this range may turn more negative toward 24,000 in the coming trading sessions. On the upside, strong resistance is placed in the range of 25,000–25,200. A decisive breakout above this range is crucial to revive bullish sentiment. Until then, a cautious and defensive approach can be followed in the coming days. How did the Nifty Bank perform yesterday? On Tuesday, the Nifty Bank opened the session on a positive note but quickly lost momentum as volatility gripped the index. Despite a strong start at 56,104.80, it failed to sustain gains and drifted lower during the day. The index oscillated in a wide range between 56,161.40 and 55,455.80, finally settling at 55,599.95, reflecting a loss of intraday strength. The formation of a bearish candlestick on the daily chart indicates profit booking at higher levels and a lack of follow-through buying interest. From a momentum standpoint, the relative strength index (RSI) is trending sideways and currently hovers near the neutral 58 mark, suggesting a momentum loss. Additionally, the MACD has triggered a negative crossover, further reinforcing the emerging bearish tone. These indicators collectively suggest a cautious near-term outlook, with limited upside potential unless fresh buying emerges above key resistance zones. Also Read: This small-cap has already gained 1,000%. Can AI fuel its next leap? According to O'Neil's methodology of market direction, the Nifty Bank has recently transitioned from an 'Uptrend Under Pressure" to a more constructive phase of a 'Confirmed Uptrend," highlighting renewed strength and resilience in the broader trend. The Nifty Bank is currently consolidating near its all-time high but has struggled to break and sustain above 56,000. A decisive breakout and a sustained close above this threshold are essential to reaffirm bullish momentum and potentially pave the way for a rally toward 57,500–58,000. In the absence of such a breakout, the index is likely to remain within its current consolidation range. On the downside, immediate support is placed near 55,000, followed by 54,500. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, developed by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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
03-06-2025
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 3 June
Stock market today: Indian benchmark indices endured a highly volatile session on Monday, 2 June, but managed to pare early losses and close with modest declines, as late-session buying by bulls helped lift sentiment. The Nifty 50 ended down 0.14% at 24,716, recovering 189 points from the day's low. The Sensex also clawed back from early losses to finish 77 points, or 0.09%, lower at 81,373. Two stock recommendations for today, 3 June, by MarketSmith India: Buy: Excel Industries Ltd. (current price: ₹1,218.80) Why it's recommended: Diverse product portfolio across high-growth sectors, strong legacy, and indigenous innovation. Key metrics: P/E: 17.02, 52-week high: ₹ 1,760.00, volume: ₹ 4.92 crore Technical analysis: Trendline breakout Risk factors: High dependency on agrochemical sector, raw material price volatility Buy at: ₹ 1,218.80 Target price: ₹ 1,450 in three months Stop loss: ₹ 1,110 Buy: AU Small Finance Bank Ltd (current price: ₹718.65) Why it's recommended: Strong focus on underserved markets, diversified loan book. Key metrics: P/E: 24.51, 52-week high: ₹ 810, volume: ₹ 459.59 crore Technical analysis: bullish flag pattern breakout Risk factors: Geographical concentration risk, asset quality risks in MSME and vehicle finance Buy at: ₹ 718 Target price: ₹ 790 in three months Stop loss: ₹ 690 Nifty 50: How the benchmark index performed on 2 June The Nifty 50 opened the June series with a gap-down start at 24,670 and slipped below its 21-day moving average (DMA) in early trade, retesting the intraday low of 24,526. However, the index staged a steady recovery through the session, reclaiming the 21-DMA and closing above 24,700. The day's price action formed a green candlestick with a long lower shadow—a lower high and lower low structure—reflecting intraday volatility but also buying interest at lower levels. Read this | This small-cap has already gained 1,000%. Can AI fuel its next leap? Most sectoral indices ended in the green, except for IT, Metal, and Pharma. The advance-decline ratio hovered around 1:1, pointing to a neutral, indecisive market breadth. Technically, Nifty continues to trade above its key moving averages across multiple timeframes, although it remains locked in a broad consolidation zone of 24,400–25,200. The daily RSI has flattened but remains in bullish territory, indicating underlying strength. However, the MACD has turned negative on the daily chart, suggesting the potential for near-term consolidation despite the prevailing uptrend. According to O'Neil's methodology, the index has shifted from a 'Rally Attempt" to a 'Confirmed Uptrend." Yet, sustained trading below the 21-DMA would be a cause for concern, reinforcing a sideways-to-bearish bias in the short term. Immediate support lies between 24,400 and 24,500, while resistance is expected around 25,000 to 25,200. Bank Nifty's performance on 2 June On Monday, 2 June, the Bank Nifty index opened at 55,598.25, slipped to an intraday low of 55,400.55, and climbed to a high of 55,966.30 before settling at 55,903.40—up 0.28% for the day. The index continues to trade within a narrow consolidation band near its record highs, maintaining a positive bias. Importantly, it remains above all key moving averages, underscoring strength in its medium-term trend. Read this | FMCG stocks face margin pressure. Here's why Momentum indicators paint a mixed picture. The RSI is trending upward and currently stands at 63, indicating strengthening bullish sentiment. However, the MACD still reflects a negative crossover, suggesting some caution is warranted despite the upward drift in prices. According to O'Neil's market direction framework, Bank Nifty has moved from an 'Uptrend Under Pressure" to a more constructive 'Confirmed Uptrend," signalling renewed resilience in the broader trend. The index is currently consolidating just below the 56,000 mark, which is acting as a key resistance level. A clear breakout and sustained close above this level would confirm a resumption of bullish momentum and could set the stage for a move toward 57,500–58,000. Until then, the index is likely to remain range-bound. On the downside, immediate support is seen near 55,000, with a stronger base around 54,500. Also read | Vodafone Idea resumes relief talks with govt, links capex to bank funding The short-term outlook remains constructive. A sustained breakout above 56,000 would confirm bullish continuation and could pave the way for an upside move toward 57,500–58,800. On the downside, immediate support is seen around 54,500, which may serve as a near-term cushion. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, developed by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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.
