 "RIL, Bajaj Fin: Ruchit Jain of Motilal Oswal bets on 3 stocks to buy today")
Stocks to Buy Today, Thursday, Jan 9, 2025:
Buy RELIANCE | CMP: Rs 1,265 | Stop Loss: Rs 1,220 | Share price target: Rs 1,350
Reliance Industries share price (RIL share price) has seen a correction in the last couple of months, but is now trading around its weekly 200-EMA support. On the daily chart, the RSI has formed a positive divergence and such formations near support are initial signs of a probable trend reversal.
Buy Bajaj Finance | CMP: Rs 7,339 | Stop Loss: Rs 7,150 | Share price target: Rs 7,670
Bajaj Finance share price witnessed a sharp upmove during the last weeks, post its Q3 business update. Technically, Bajaj Finance share gave a breakout above its crucial resistance of 7,250 with high volumes, which turned the trend bullish. In the last couple of sessions, the stock price has seen a pullback move along with the broader markets, but the volumes are low on the pullback move. Hence, one should use this dip as a buying opportunity for the short-term.
Buy Bharat Dynamics | CMP: Rs 1,185 | Stop loss: Rs 1,110 | Share price target: Rs 1,300
Bharat Dynamics share has consolidated around the 50-per cent retracement in the last few sessions. Bharat Dynamics share price volume action is bullish and the RSI oscillator has given a positive crossover on the daily chart. Hence, we expect a pullback move in the stock in the near-term.
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Disclaimer: Ruchit Jain is Head of Equity, Technical Research, Wealth Management, at Motilal Oswal Financial Services. Views expressed are his own.