Vinay Rajani, Senior Technical and Derivative Analyst at HDFC Securities, has recommended buy-on-dips in Nifty as support levels have shifted higher to ₹22,580, followed by ₹22,300. According to latest reports, Nifty has confirmed a higher top and higher bottom on a closing basis, validating a bullish reversal on the short-term timeframe. The index now faces strong resistance in the 23,100-23,150 band, with a decisive move above this zone reinforcing the bullish structure. On the downside, if these support levels hold, the near-term bias favors buy-on-dips, while a break below ₹22,300 would warrant caution.
According to Chandan Taparia, Head- Technical and Derivatives Research at MOFSL, Hindustan Aeronautics Ltd. presents a buying opportunity in the defence PSU space. The stock is currently trading at ₹4,869 and Taparia recommends a buy at ₹4,869 with a target of ₹5,155. The trading strategy advises maintaining a strict stop loss at ₹4,600, implying a potential upside of 11% from current market price. The stock has formed higher tops and higher bottoms on the daily chart, with the primary trend remaining bullish above all key moving averages. Price rise is accompanied by rise in volumes, while indicators and oscillators have turned bullish on the short-term charts.
Vinay Rajani, CMT, Senior Technical and Derivative Analyst at HDFC Securities, has recommended Karnataka Bank at ₹342.25 with a target price of ₹364. The analyst suggests a stop-loss at ₹325, indicating potential upside of approximately 5% from current market levels. Karnataka Bank is on the verge of hitting fresh all-time high, with a level above ₹346 resulting in a bullish breakout from consolidation. The stock is placed above all key moving averages, with indicators and oscillators turning bullish on the daily charts. Additionally, Chandan Taparia from MOFSL recommends PNB Housing Finance at ₹1,224.80 with a target of ₹1,288 and stop loss at ₹1,195, also offering 5% upside potential.
VLA Ambala, SEBI-registered Research Analyst and Founder of SMT Stock Market, has identified Happiest Minds Technologies as a buy opportunity in the ₹320-310 range. The analyst expects the stock to move towards targets of ₹350 and ₹380, implying a potential upside of 18% from current market price of ₹321.25. The trading strategy advises maintaining a stop loss at ₹290 for this technology stock recommendation, offering significant upside potential for investors seeking exposure to the IT sector.
Ambala is also bullish on Behari Lal Engineering Ltd. (BLEL), recommending a buy at ₹490 with a target ranging between ₹520-550, implying a potential upside of 10% and a stop loss at ₹470. These recommendations span across aerospace and defence, banking, housing finance, metals and mining sectors, with potential upside ranging from 3% to nearly 18% based on current market prices and target levels provided by market experts. The diversified sector approach provides investors with exposure to multiple growth opportunities across different market segments.
