 "Ajit Mishra from Religare Broking suggests buying these three stocks today")
Market View
Nifty: CMP: 24,951.15
Markets remained range-bound for the third successive session, ultimately gaining nearly half a percent. After an initial uptick, the Nifty fluctuated within a narrow range, but buying in select heavyweight stocks during the final trades helped the index close near the day’s high at 24,951.15. Most sectors aligned with the benchmarks performance, with metals and pharmaceuticals among the top gainers. Conversely, the broader indices displayed mixed results, with midcaps gaining over half a percent while smallcaps ended slightly lower.
Market reactions to the US Fed meeting outcome will be evident in early trades on Thursday. Indications suggest that the current market tone will persist. With key sectors, except banking, contributing to the momentum, traders should focus on selecting quality stocks and utilise any market dips for accumulation.
Stocks Recommendations
Aditya Birla Fashion and Retail Limited | LTP: Rs 343.70 | Buy | Target: Rs 370 | Stop-loss: Rs 330
More From This Section
Aditya birla f
ABFRL has been in a steady uptrend and inching closer to its record high now. It has registered a fresh breakout from a consolidation range, offering fresh buying opportunity to those who missed the chance earlier.
ABFRL has been in a steady uptrend and inching closer to its record high now. It has registered a fresh breakout from a consolidation range, offering fresh buying opportunity to those who missed the chance earlier.
GMR Airports Infrastructure Limited | LTP: Rs 101.73 | Buy | Target: Rs 110 | Stop-loss: Rs 97
GMR Airports has been on a steady upward trajectory, recently reaching a new record high. After consolidating for over a month, the stock has formed a fresh buying pivot while remaining above its short-term moving averages. This price action, combined with the positioning of momentum indicators, suggests that GMR Airports is poised for another phase of upward movement.
Karnataka Bank | LTP: Rs 237.67 | Buy | Target: Rs 255 |Stop-loss: Rs 225
We are observing a significant recovery in PSU banking stocks, with Karnataka Bank making notable gains. After a substantial correction from its all-time high, the stock has rebounded from a key support zone and has reclaimed its important moving averages. It has also achieved a breakout from an inverse head and shoulders pattern, accompanied by a strong surge in volume.
(Ajit Mishra is senior vice president of research at Religare Broking. Views expressed are his own.)