Shares to buy or sell: Sachin Gupta of 5paisa recommends Kotak Bank, IndiGo shares today
Stock market today: The Indian stock markets maintained their upward momentum on Tuesday morning, with the benchmark indices starting off in the positive territory. Nevertheless, participants in the market seem to be adopting a "wait and see" approach ahead of the results of the US-China trade negotiations taking place in London.
The Nifty 50 index commenced trading at 25,196.05, an increase of 92.85 points or 0.37%, while the Sensex began higher by 198.52 points or 0.24%, reaching 82,643.73.
Analysts credited the rise to robust buying in sectors sensitive to interest rates, particularly in financial stocks, and noted that key indicators point towards potential further gains in the upcoming sessions.
Sachin Gupta at 5paisa recommends two stocks on Tuesday — Kotak Mahindra Bank Ltd, and InterGlobe Aviation Ltd (IndiGo).
The Nifty 50 index rally continued for the fourth consecutive session on Monday, reaching an eight-month high at the 25,160 level, supported by broad-based market momentum. Nifty 50 closed at 25,103.20, gaining 100 points.
Technically, after a gap-up opening, the market remained range-bound throughout the day. On the daily charts, the index has broken out of its prolonged consolidation phase but formed a small candlestick, indicating indecision among traders.
Currently, Nifty 50 is facing crucial resistance around 25,200. A breakout above this resistance could push the index toward the next resistance zone between 25,300 and 25,450. On the downside, 25,070 is acting as immediate support; any dip below this level could drag the index down to the next support around 24,900.
On shares to buy on Tuesday, Sachin Gupta recommends two stocks on Tuesday — Kotak Mahindra Bank Ltd, and InterGlobe Aviation Ltd (IndiGo).
Kotak Bank share price is showing signs of a strong upward move after a period of correction. It has found support at the 100-day moving average and the 61.8% Fibonacci retracement level, both important support points.
Rising volume on the daily chart indicates buying interest, while the RSI suggests improving momentum. Together, these factors indicate that the stock may begin to rise again, making Kotak Bank a good buy for the short to medium term.
Traders are advised to look for buying opportunities in Kotak Bank shares around ₹ 2,120–2,140, with a target of ₹ 2,250/2,290 and a stop loss at ₹ 2,055 on a closing basis.
IndiGo share price is displaying a strong bullish trend, characterized by a higher top–higher bottom formation, indicating an ongoing uptrend. The stock recently broke out of a consolidation phase with strong volumes, also crossing above the upper Bollinger Band—often a sign of bullish momentum.
A positive crossover in the RSI further supports this bullish outlook. Based on the above technical structure, we expect the bullish trend to remain intact.
Hence, traders are advised to buy IndiGo share price in the range of ₹ 5,670–5,690 for an upside target of ₹ 5,880/6,030, with a stop loss at ₹ 5,480 on a closing basis.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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