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Business Standard
12-06-2025
- Automotive
- Business Standard
Bajaj Auto, Tech Mahindra, L&T Tech: Analyst pick 3 stocks to buy today
Stock recommendations: Bajaj Auto Bajaj Auto appears to be in its fifth impulsive wave after completing Wave 4, indicating the continuation of its uptrend. The stock is witnessing steady volume, and the price has managed to close above all major Exponential Moving Averages (EMAs), reinforcing the bullish bias. The Relative Strength Index (RSI), after a brief cool-off, has started moving upward, supporting the ongoing price action. Additionally, DI+ trading above DI− signals a bullish stance, while the ADX above DI− suggests strength in the uptrend. As long as the stock sustains above ₹8,400, it remains well-positioned to move higher towards ₹9,300, followed by ₹9,500. Bajaj Auto: ₹8,719 Stop Loss: ₹8,400 Tech Mahindra Tech Mahindra (TECHM) has given a breakout from a Flag and Pole pattern, indicating a continuation of the prior uptrend. The breakout is accompanied by an increase in volume, highlighting strong buying interest at current levels. The stock is trading above both the 21-period (fast) and 100-period (slow) Exponential Moving Averages (EMA), which further reinforces the bullish sentiment. The Relative Strength Index (RSI), after a cool off, has resumed its upward movement, lending additional support to the positive price action. Furthermore, the DI+ crossing above DI- following a consolidation phase signals a bullish stance. The ADX moving above DI- indicates that strength is building in the ongoing uptrend. Strategy: The stock can be considered for buying at current levels as long as it holds above ₹1,550. Potential upside targets are ₹1,770 and ₹2,000. Tech Mahindra: ₹1,637.50 Stop Loss: ₹1,550 Target Price: ₹1,700/2,000 L&T Technology Services LTTS has given a breakout above a falling trendline, accompanied by a volume surge, indicating strong buying interest at current levels. Additionally, the stock has broken out of the Bollinger Bands after a prolonged consolidation period, with an expansion in band width suggesting increased volatility and a confirmed breakout. The Relative Strength Index (RSI) is trading in the higher range, supporting the bullish outlook. Overall, the technical setup indicates that the stock is well-positioned to move higher towards ₹4,900, followed by ₹5,150, with a stop-loss placed at ₹4,400. L&T Technology Services: ₹4,584.90 Stop Loss: ₹4,400
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Business Standard
04-06-2025
- Business
- Business Standard
Brigade Enterprises, Cochin Shipyard among top picks recommended by analyst
Stocks to buy: Brigade Enterprises has given a breakout from a falling parallel channel pattern, indicating a potential trend reversal Stocks recommendations: Brigade Enterprises Ltd Brigade Enterprises has given a breakout from a falling parallel channel pattern, indicating a potential trend reversal. The stock is currently trading above all major Exponential Moving Averages (EMAs), which reflects a strong bullish undertone. A notable increase in volume on the breakout day suggests active participation from buyers, indicating strong demand and conviction in the upward move. The Relative Strength Index (RSI) has also broken out above its resistance level, confirming strength in momentum and supporting the ongoing price action. Furthermore, the MACD line has crossed above the signal line, reinforcing the bullish outlook and suggesting the potential for further upside in the near term. Cochin Shipyard Ltd Cochin Shipyard has resumed its upward movement following a successful throwback, confirming the strength of the breakout. The stock is forming a Higher High–Higher Low structure, ₹which is a classic indication of an ongoing uptrend. Additionally, volumes have been steadily rising since the throwback, signaling sustained buying interest and investor confidence in the current rally. The Relative Strength Index (RSI) is trading in a higher range, further supporting the bullish momentum and indicating strength in the ongoing trend. Cochin Shipyard: ₹2,016.8 Stop-loss: ₹1,700 Target price: ₹2,500/₹2,700 Ideaforge Technology Ltd Ideaforge has completed its subwave 4 corrections and has now entered into the fifth pulsive wave, signaling the continuation of its primary uptrend. The stock has taken support at the 20-day Exponential Moving Average (EMA) and bounced back, indicating that the 20 EMA is acting as a strong dynamic support level. An increase in volume during buying sessions reflects growing buyer confidence and accumulation at current levels. Moreover, the Relative Strength Index (RSI) has reversed from the throwback phase and is now trending upward, further confirming the bullish momentum. Idea Forge: ₹561.20 Stop-loss: ₹496
Mint
02-06-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Monday — 2 June 2025
Stock Market Today: The consolidation in the market continued during the week ending 30 May 2025, as Nifty-50 index at 24,750.70 ended around 0.4% lower week on week. The Nifty Bank at 55,749.70 ended 0.6% higher while Metals Auto, industrials and Telecom were significant losers energy was among key gainers. Among the broader markets, both the midcap and smallcap indices managed to register gains of nearly 1.5% each. Trade Setup for Monday For the Nifty-50 index the level of 24,650 will act as key support zone, while 25,000 will serve as a key resistance area for the bulls. As long as the market remains between the 24,650 and 25,000 ranges, a sideways, range-bound texture is likely to continue, said Amol Athawale, VP-Technical Research, Kotak Securities. For Bank Nifty, the higher bottom support is placed at 55,000 and above this, the uptrend is likely to continue towards 56,500–57,000, added Athawale Global Markets and Q4 Results Looking ahead, all eyes will be on the outcome of the RBI's Monetary Policy Committee (MPC) meeting scheduled for June 6. Additionally, with the new month beginning, participants will track high-frequency data including auto sales numbers and other economic indicators. Updates on the progress of the monsoon and the trend in foreign institutional investor (FII) flows will also be closely monitored, said Ajit Mishra – SVP, Research, Religare Broking Ltd. Globally, developments in the U.S. bond market and any updates regarding ongoing trade negotiations will continue to influence investor sentiment., added Mishra. Stocks to buy today Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks Sumeet Bagadia's stock picks Welspun Corp Ltd- Bagadia recommends buying WELCORP at around ₹ 935.55 keeping Stoploss at around ₹ 900 for a target price of ₹ 975. WELCORP is currently trading at ₹935.55, maintaining a strong upward trajectory marked by the consistent formation of higher highs and higher lows—a classic indicator of sustained bullish momentum. The stock recently reached a new all-time high of ₹938.80, and a decisive breakout above this level could trigger fresh buying interest, potentially accelerating the ongoing rally. This bullish sentiment is further reinforced by the upward slope of the 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), with the stock price comfortably trading above all these key levels 2. Authum Investment & Infrastructure Ltd- Bagadia recommends buying Authum Investment & Infrastructure or AIIL in at around ₹2379.20 keeping Stoploss at ₹2295 for a target price of ₹2545. AIIL is currently trading at ₹2,379.20 and continues to demonstrate strong bullish momentum, evident from its steadily rising price structure and consistent pattern of upward swings. The stock recently approached its all-time high of ₹2,386, and a breakout above this key level could attract renewed buying interest, potentially unlocking further strength of the trend is further reinforced by the upward trajectory of the 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), indicating sustained demand and positive sentiment across multiple timeframes Ganesh Dongre's stocks to buy today 3. Hindustan Aeronautics Ltd- Dongre recommends buying Hindustan Aeronautics Ltd or HAL at around ₹4975 keeping Stoploss at around ₹4900 for a target price of ₹5100 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 4975 and holding above a key support level at ₹ 4900. 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 ₹ 4900 to manage downside risk. The target for this trade is set at ₹ 5100, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 4. Punjab National Bank - Dongre recommends buying Punjab National Bank or PNB at around ₹105 keeping Stoploss at ₹100 for a target price of ₹112 Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 105 and maintaining a strong support at ₹ 100. The technical setup indicates the potential for a price retracement towards the ₹ 112 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 ₹ 100 offers a prudent approach to capturing the anticipated upside. 5. Dr Reddys Laboratories Ltd - Dongre recommends buying Dr Reddys Laboratories or DRREDDY at around ₹1251 keeping Stoploss at ₹1420 for a target price of ₹1470. Stock is currently trading at ₹ 1251 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 1420, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 1470 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound. Shiju Koothupalakkal's intraday stocks for today 6. Anant Raj Ltd- Koothupalakkal recommends buying Anant Raj at around ₹561 for a target of ₹590 keeping Stop loss: at ₹549 The stock has indicated a series of bullish candle formation on the daily chart after a short period of consolidation to trigger for fresh upward move and can anticipate for further rise in the coming sessions. The RSI is on the rise indicating strength and can carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of ₹590 keeping the stop loss of ₹549 level. 7. Union Bank of India - Koothupalakkal recommends buying Union Bank of India at around ₹146.79 for a target price of ₹154 keeping Stop loss at ₹143 The stock has indicated a breakout on the daily chart above the ₹140 zone with huge volume participation witnessed to strengthen the trend and can expect for further upward move in the coming days. The overall bias is maintained strong and with the RSI getting better, it has indicated much upside potential for further gains in the coming sessions. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹154 level keeping the stop loss of ₹143 level. 8. Kalpataru Projects International Ltd - Koothupalakkal recommends buying Kalpataru Projects International or KPIL at around ₹1138 for a Target price of ₹1200 keeping Stop loss at ₹1110 The stock after witnessing a decent spurt has been in consolidation for quite some time with currently indicating a positive candle formation on the daily chart to show signs of improvement with significant volume participation visible. There is much scope for further rise in the coming sessions with the RSI consolidating and with strength indicated, can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of ₹1200 level keeping the stop loss of ₹1110 level.
Mint
23-04-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to Q4 Results; Eight stocks to buy or sell on Wednesday — 23 April 2025
Stock Market Today: The benchmark Nifty-50 index maintaining positive momentum managed to end with 0.17% gains at 24,167.25 on Tuesday. The Bank Nifty outperformed gained 0.62 to 55,647.20 while realty and FMCG led gains for other indices. The IT and oil & Gas index were prominent losers. The broader indices also ended with about half a per cent gains For Nifty-50 index 24100 and 24000 will act as key support zones, while 24250-24350 could serve as key resistance areas for the bulls. However, if the index falls below 24000, sentiment could change, as per Shrikant Chouhan, Head Equity Research, Kotak Securities For Bank Nifty 56,000 will act as a stiff resistance, while 54,470 remains a crucial support zone, as per Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. We expect the gradual up-move to continue in the market on hopes of a Bilateral Trade Agreement between India and US, sustained FII buying and supportive RBI policies. While action would continue on the stock/sector front on the back of Q4 corporate earnings. Companies like LTI Mindtree, TATA Consumer, Bajaj housing, 360 One WAM amongst others will be announcing results on Wednesday, said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given two stocks picks & Mahindra Ltd- Bagadia recommends buying Mahindra & Mahindra at ₹ 2817.1 keeping Stoploss at ₹ 2718 for a target price of ₹ 3014 M&M is currently trading at ₹ 2817.1 and is exhibiting strong upward momentum. On the daily chart, the formation of a bullish candlestick pattern supports a reversal from lower levels, reflecting renewed bullish sentiment. The stock is also trading comfortably above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), further reinforcing the positive technical outlook. 2. ITC Ltd - Bagadia recommends buying ITC at ₹ 433.6 keeping Stoploss at ₹ 418 for a target price of ₹ 464 ITC Ltd. is currently trading at ₹ 433.6 and exhibiting strong bullish momentum, as reflected by the consistent formation of higher highs and higher lows—an indication of a robust trend reversal. The emergence of a strong bullish candlestick pattern on the daily chart further reinforces the likelihood of a sustained uptrend. This positive sentiment is supported by a significant surge in trading volumes, indicating increased buying interest among market participants. 3. Hindustan Unilever Ltd- Dongre recommends buying Hindustan Unilever Ltd at ₹ 2400 keeping Stoploss at ₹ 2370 for a target price of ₹ 2460. In the recent short-term trend analysis of the stock, a notable and continuous bullish pattern has emerged. This technical pattern indicates the potential for an extended retracement in the stock's price, with the possibility of reaching the target level of Rs. 2460. The stock is currently holding a critical major support level at Rs. 2370, which serves as a key marker for risk management. 4. Biocon Ltd- Dongre recommends buying BIOCON at ₹ 334 keeping Stoploss at ₹ 325 for a target price of ₹ 348 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around Rs.348. At present, the stock is maintaining a crucial support level at Rs.325 Given the current market price of Rs.334, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.348 5. HEG Ltd- Dongre recommends buying HEG at ₹ 480 keeping Stoploss ₹ 458 for a target price of ₹ 520. In the recent short-term trend analysis of the stock, currently stock is into oversold zone. Looking towards the daily chart a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around ₹ 520. At present, the stock is maintaining a crucial support level at Rs.458. Given the current market price of Rs.480, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.520. 6. Colgate Palmolive (India) Ltd- Koothupalakkal recommends buying Colgate Palmolive at ₹ 2658 for a target price of ₹ 2800 keeping Stop loss at ₹ 2600 The stock has picked up quite significantly from the low made near 2330 level and has moved past the 50EMA at 2510 level to improve the bias and currently with a positive candle formation on the daily chart has strengthened the trend to anticipate for further rise in the coming sessions. The RSI is well positioned and on the rise indicating strength having immense upside potential to carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of 2800 keeping the stop loss of 2600 level. 7. SJVN Ltd- Koothupalakkal recommends buying SJVN at around ₹ 99 for a target price of ₹ 105 keeping Stop loss at ₹ 97.50 The stock recently moving above the 50EMA has improved the bias and currently with a positive bullish candle has indicated a breakout above the descending channel on the daily chart to strengthen the trend and trigger for fresh upward move in the coming sessions. With the RSI well placed and on the rise has indicated a positive trend reversal to signal a buy recently and having much upside potential visible, it can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest to buy the stock for an upside target of 105 level keeping the stop loss of 97.50 level. 8. NTPC Ltd- Koothupalakkal recommends buying NHPC at ₹ 89.88 for target price of ₹ 95 keeping Stop loss ₹ 88 The stock has steadily picked up significantly in the last one month improving the trend and currently with positive candle formations has moved past the important 200 period MA at 87 zone to further strengthen the trend and can expect for further rise in the coming sessions. The RSI has indicated strength with a steady rise and has further upside potential from current rate. With the chart looking good, we suggest to buy the stock for an upside target of 95 keeping the stop loss of 88 level. 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. First Published: 23 Apr 2025, 08:03 AM IST
Mint
21-04-2025
- Business
- Mint
HDFC Bank share price rallies over 2% to all-time high after strong Q4 results. Should you buy or sell?
HDFC Bank share price gained over 2% on Monday to hit a record high after the private sector lender reported strong Q4 results. HDFC Bank shares rallied as much as 2.27% to an all-time high of ₹ 1,950 apiece on the BSE. The largest private sector lender in the country, HDFC Bank reported a net profit of ₹ 17,616 crore in the fourth quarter of FY25, registering a growth of 6.7% year-on-year (YoY), while its net interest income (NII) increased 10.3% YoY to ₹ 32,070 crore. The bank's net interest margin (NIM) stood at 3.54% on total assets and 3.73% based on interest-earning assets. The bank's asset quality improved on a sequential basis. The board of HDFC Bank also recommended a dividend of ₹ 22 per share FY25. Analysts were impressed by HDFC Bank Q4 results, leading to increase in target prices on the stock by many brokerages. 'After growth calibration for the past one year, and under pressure to bring down LDR and manage PSL/margins, HDFC Bank reported better credit growth in 4Q at 5% YoY and 4% QoQ as well as stable core margins. We believe HDFC Bank would be the key beneficiary of the easing regulatory stance on LDR and liquidity which should reflect in better growth in FY26; this would thereby reduce the bank's growth gap with peers and thus ease investor concern,' said Anand Dama, Senior Research Analyst at Emkay Global Financial Services. He also believes that the listing of HDB Financial Services would unlock value, which should be a positive catalyst. Emkay Global retains a 'Buy' rating on HDFC Bank shares and raised the target price by 5% to ₹ 2,200 apiece. According to Nuvama Institutional Equities, HDFC Bank reported strong Q4FY25 earnings with a beat on core NIM, up 5 bps QoQ, and lower QoQ slippage. Core PPOP grew 10% YoY and 2% QoQ, while slippages decreased 15% QoQ. 'Management expects to maintain strong deposit growth even amid rate cuts and guides for smaller improvement in LDR versus FY25. We believe with positive outcomes on asset quality, gain in deposit market share, improving LDR and uptick in core NIM, Q4FY25 was strong,' said Nuvama Equities. The brokerage firm reiterated its 'Buy' rating and raised HDFC Bank share price target to ₹ 2,195, based on 2.8x BV FY26E, from ₹ 1,950 earlier. HDFC Bank, after breaching its all-time high post strong Q4 results, is witnessing vertical momentum, according to Anshul Jain, Head of Research at Lakshmishree Investment. 'However, HDFC Bank stock now looks overextended and a profit booking move towards the ₹ 1,850 – 1,860 zone is highly likely. HDFC Bank shares are trading well above its 10, 20, and 50-day EMAs (Exponential Moving Averages). Investors holding momentum longs are advised to book partial profits at current levels. A healthy pullback would offer better risk-reward for re-entry as the stock cools off from its stretched levels,' Jain said. HDFC Bank share price has gained 10% in one month and more than 18% in three months. Over the past one year, HDFC Bank shares have risen 27%, and have delivered a multibagger return of 110% in the past five years. At 9:55 AM, HDFC Bank shares were trading 1.22% higher at ₹ 1,929.80 apiece on the BSE.
