Stocks to buy for short term: Nagaraj Shetti suggests SJVN, Berger Paints shares; do you own?

Stock market today: The Indian stock market experienced widespread buying, which propelled the Sensex and Nifty 50 benchmarks to rise by more than 1% during intraday trading on Thursday, June 5.
The Sensex started at 81,196.08, compared to its prior close of 80,998.25, and surged over 900 points, or 1%, reaching an intraday peak of 81,911.13. Meanwhile, the Nifty 50 commenced at 24,691.20 against its previous close of 24,620.20 and climbed over 1% to an intraday high of 24,899.85.
Market analysts suggest that investor optimism is driven by potential advancements in the India-US trade agreement and expectations for a rate reduction by the Reserve Bank of India's Monetary Policy Committee (MPC).
Over the past several weeks, Indian stock markets have outperformed global indices as volatility persists in international markets due to looming US reciprocal tariffs. Moreover, a favourable inflation report in India has also provided some support to domestic equity indexes.
Nagaraj Shetti of HDFC Securities expects Nifty 50 short-term trend remains positive and the next overhead resistance to be watched at 24,850. Nagaraj Shetti recommends SJVN, and Berger Paints shares to buy in the near-term.
Nifty 50 witnessed follow-through upmove so far on Thursday and is currently trading higher by 90 points. Nifty 50 has been moving in a broader high low range of 24,500-25,000 levels over the last couple of weeks and is currently bouncing back from near lower end of a range.
The short-term trend remains positive and the next overhead resistance to be watched at 24,850. A decisive upside breakout of this hurdle could open more upside in the near term.
Nagaraj Shetti of HDFC Securities recommends these two stocks to buy in the short-term - SJVN Ltd, and Berger Paints India Ltd.
After witnessing a healthy downward correction in the last couple of weeks, the SJVN share price has bounced back so far this week. Bullish pattern like higher tops and bottoms is intact as per weekly chart. Volume pattern and RSI shows positive indication.
Berger Paints share price has surged up sharply on Thursday after shifting into a larger consolidation pattern recently. The stock price has also broken above the hurdle of down sloping trend line at ₹ 570 and is currently trading higher. Volume expanded during upside breakout in the stock price and RSI shows positive indication.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

First Post

29 minutes ago

• First Post

Heightened tensions in West Asia pull Sensex & Nifty down, but defence stocks soar

Shares of Apollo Micro Systems and IdeaForge Technology surged 10% each. GRSE stocks rose 6.25%, while Swan Defence and Heavy Industries gained nearly 5% read more A man passes by the Bombay Stock Exchange (BSE) building on the day of Union Budget 2025-26 presentation, in Mumbai. File image/PTI Indian equity markets slid Monday as tensions in the Middle East escalated after the United States launched airstrikes on Iran's nuclear infrastructure, unnerving investors and triggering broad-based selling across major indices. The benchmark BSE Sensex fell 511.38 points, or 0.62 per cent, to close at 81,896.79. It had dropped as much as 931.41 points, or 1.13 per cent, earlier in the session. The NSE Nifty declined 140.50 points, or 0.56 per cent, to settle at 24,971.90. STORY CONTINUES BELOW THIS AD Markets reacted to news that the US had directly entered the Israel-Iran conflict by striking Iran's Fordow, Natanz, and Isfahan nuclear sites over the weekend. While the conflict raised concerns about broader regional instability and energy supply disruptions, initial fears around oil shocks remained contained. Brent crude gained 0.49 per cent to trade at $77.39 a barrel. The rising geopolitical uncertainty weighed on frontline indices, but Indian defence sector stocks rallied strongly on expectations of higher spending and order flows. Shares of Apollo Micro Systems and IdeaForge Technology surged 10 per cent. Garden Reach Shipbuilders & Engineers rose 6.25 per cent, while Swan Defence and Heavy Industries gained up to 5 per cent. The sector's outperformance followed months of recovery. After a five-month period of weakness attributed to valuation concerns, defence stocks began to rebound in March and gained further traction in April and May. The momentum intensified after Operation Sindoor, during which India showcased its indigenous defence capabilities, including intercepting drones and missiles launched by Pakistan, according to a report by The Mint. Sentiment was further lifted by Prime Minister Narendra Modi's recent reiteration of the government's commitment to self-reliance in defence production under the Make in India initiative. Despite the day's volatility, select capital goods and metals stocks provided support to the market. Investors monitored global cues closely, with attention focused on whether Iran would retaliate further or escalate the conflict into the Strait of Hormuz, a key oil transit route. STORY CONTINUES BELOW THIS AD Market participants are expected to remain cautious amid heightened geopolitical risks, even as underlying domestic trends in select sectors remain resilient. With inputs from agencies

Time of India

33 minutes ago

• Time of India

EV energy tech startup Kazam raises $6.2 million from IFC, Vertex Ventures, Avaana Capital Advisors

EV energy-tech startup Kazam has secured $6.2 million in funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures SEA & India and Avaana Capital Advisors. The Bangalore-based company said that these funds will support Kazam's growth as it rolls out its energy transition tools to boost the shift towards sustainable mobility . This new round takes the total capital raised by the company to $19.2 million. Previous equity rounds, led by Avaana Capital Advisors, Vertex Ventures SEA & India, and Chakra Ventures, brought in $13 million. 'Kazam is building the digital infrastructure for EVs at scale, something that's critical as the world transitions to clean mobility,' said Akshay Shekhar, CEO and cofounder of Kazam. 'IFC's backing signals confidence in our platform's potential to decarbonise transport, especially across emerging markets.' The company has seen strong growth, with revenues jumping from $1.5 million in FY24 to $6 million in FY25, a fourfold increase. Kazam is aiming to double that to $12 million this fiscal and expects to reach earnings before interest, taxes, depreciation, and amortisation (Ebitda) profitability soon. 'EVs are key to accelerating India's economic growth and energy transition. However, limited charging infrastructure remains a challenge. Our investment in Kazam aligns with IFC's strategy to catalyse the growth of the electric mobility ecosystem,' said Wendy Werner, country head, India and Maldives, IFC. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam provides device-agnostic solutions to EV charging and battery swapping operators, vehicle OEMs, fleet operators, and electricity grid companies.

India Gazette

34 minutes ago

• India Gazette

India's export sector resilient even as geopolitical tensions test global trade stability: FIEO President

New Delhi [India], June 23 (ANI) India's export sector remains 'resilient and adaptive' at a time geopolitical tensions in the Middle East, including the ongoing Iran-Israel conflict, pose certain challenges to global trade dynamics, President of Federation of Indian Export Organisations (FIEO) SC Ralhan said. 'Our trade with both Iran and Israel, while important, constitutes a small share of our overall export-import basket. The government and industry are jointly monitoring developments to ensure minimal disruption,' the exporters' body chief said. FIEO said it anticipates some short-term impact on demand and logistics, particularly in the Gulf region, which serves as a crucial hub for Indian exports. 'Increased shipping costs, longer transit times, and rising marine insurance premiums may add pressure, especially in price-sensitive sectors,' he added. However, he noted that Indian exporters have repeatedly demonstrated agility in rerouting shipments, diversifying markets, and managing financial exposures. 'The robust MSME and large-scale exporters, coupled with strong government support mechanisms, will help cushion any near-term shocks,' he noted. Crude oil price volatility is being closely watched, as it can influence inflation and logistics costs. However, India's diversified energy procurement strategy and the Reserve Bank's proactive stance help maintain liquidity and macroeconomic stability. Over the years, India has diversified its energy supplies, and a large volume of them do not come through the Strait of Hormuz now. Oil Marketing Companies have supplies for several weeks and continue to receive energy supplies from several routes. Petroleum Minister Hardeep Puri vowed his ministry will take all necessary steps to ensure the stability of fuel supplies to citizens. 'Overall, while there are temporary headwinds, we see this as an opportunity for Indian exporters to explore alternate routes, strengthen regional partnerships, and consolidate India's role as a reliable trade partner in uncertain times,' the FIEO President said. The FIEO said it is committed to supporting exporters with timely guidance, market intelligence, and policy advocacy to ensure continued momentum in the global trade journey. (ANI)