Indian benchmark indices ended marginally lower on Thursday, May 21, after a volatile trading session. According to reports from LiveMint, the Sensex fell 135.03 points, or 0.18%, to settle at 75,183.36, while the Nifty 50 slipped 4.30 points, or 0.02%, to close at 23,654.70. During the session, the Sensex swung sharply between an intraday high of 75,945.79 and a low of 74,996.78, reflecting heightened market volatility. Broader markets remained largely rangebound, with the BSE SmallCap Select index gaining 0.48% and the MidCap Select index ending nearly flat.
Market experts have identified five stocks for potential investment opportunities today. According to reports from LiveMint, Raja Venkatraman, Co-founder of NeoTrader and stock research platform MarketSmith India, recommended buying Aditya Birla Fashion and Retail Ltd, Metro Brands Ltd, Great Eastern Shipping Company Ltd, Samvardhana Motherson International Ltd, and Lumax Industries Ltd. The recommendations come amid ongoing concerns surrounding the Middle East conflict, elevated crude oil prices, currency volatility and rising global bond yields, as reported by LiveMint.
Aditya Birla Fashion and Retail Ltd is recommended as a buy above ₹67 with a stop loss at ₹63 and target price of ₹77 for a multiday investment. As reported by LiveMint, the stock is currently trading at ₹66.76 and has a 52-week high of ₹98 with volume of 8.1 million. The recommendation is based on the formation of a Cup-and-Handle pattern over recent days, with technical analysis showing support at ₹60 and resistance at ₹80. The stock has been in decline over the last six months but shows potential for an upward move with momentum picking up.
Metro Brands Ltd is recommended as a buy above ₹1,110 with a stop loss at ₹1,050 and target price of ₹1,225 for a multiday investment. According to LiveMint, the stock is currently trading at ₹1,108.80 with a 52-week high of ₹1,340.40 and volume of 294.14K. The recommendation is supported by the power sector demand and the stock finding strong support at the Kumo cloud region after a sharp sell-off. The Relative Strength Index is rising and has crossed 60 levels, indicating potential upside momentum.
Market sentiment remains cautious amid ongoing concerns surrounding the Middle East conflict, elevated crude oil prices, currency volatility and rising global bond yields, as reported by LiveMint. The Gift Nifty was trading around 23,620.5 level by 7:43 AM, showing a discount of 11 points from the Nifty futures' previous close of 23,631.40, indicating a muted start for the Indian stock market today. Investors are advised to consult certified experts before making any investment decisions, as these recommendations are for educational purposes only.
