Top stocks to buy: Nifty could test 25,400 in near-term - check stock recommendations with a 3-month horizon
Stock market recommendations: According to Sudeep Shah, Head - Technical Research and Derivatives, SBICAP Securities, Trent and Bharti Airtel are the top stock picks for today.
Here's his view on Nifty, Bank Nifty and the top stock picks with a 3-month horizon:
Index View: Nifty View
G
lobal equity markets staged an upside rally after the US President Donald Trump announced a ceasefire agreement between Iran and Israel, easing geopolitical tensions and reviving global risk appetite. This positive sentiment lifted Dow Futures and major Asian indices, which are currently trading higher.
Reflecting the global optimism, India's benchmark index Nifty opened with a gap-up on Tuesday and is now hovering near the upper boundary of its ongoing consolidation zone between 25222 and 24462 — a range it has been oscillating within for the past 29 consecutive trading sessions.
Technically, the index is trading above both its short-term and long-term moving averages, a sign of underlying strength. Notably, the short-term averages, which had been moving sideways in recent sessions, have now started to slope upwards.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Perdagangkan CFD Emas dengan Broker Tepercaya
IC Markets
Mendaftar
Undo
Meanwhile, the daily RSI is approaching the key 60 mark — a development typically viewed as bullish.
Given the current chart structure and improving momentum indicators, the index appears poised to continue its northward trajectory. In the near term, it could test levels of 25400, followed by 25550. On the downside, the support zone of 25080–25050 is expected to cushion any pullback.
Bank Nifty View:
The banking benchmark index, Bank Nifty, has recently found support near its 34-day EMA and has since been trending higher in a gradual but steady manner.
It now trades just a stone's throw away from its all-time high levels. All key moving averages are aligned positively, and momentum-based indicators are pointing toward sustained bullish strength in the index.
Given the prevailing technical structure, we expect Bank Nifty to extend its upward momentum in the near term and potentially test the 57000 mark, followed by 57500. On the downside, the support zone of 56300–56200 is likely to offer immediate protection against any short-term pullback.
Stock Recommendations:
TRENT
CMP
Accumulation Zone
Target
Stop Loss
Return (%)
Time Period
6120
6150-6100
6860
5730
12.09%
3-Months
The stock marked a low of 4488 in the month of April 2025 and thereafter started marking the sequence of higher tops and higher bottoms along with relatively higher volume. Recently, the stock has started outperforming the frontline indices. The ratio chart of the stock as compared to the Nifty index has given a consolidation breakout on a daily scale. Currently, the stock is trading above its short and long-term moving averages.
These averages are in the rising mode, which is a bullish sign. The daily RSI is trading at a 9-month high, which is a bullish sign.
Hence, we recommend to accumulate the stock in the zone of 6150-6100 with a stoploss of Rs 5730 level. On the upside, it is likely to test the level of 6860 in the short term.
BHARTI AIRTEL
CMP
Accumulation Zone
Target
Stop Loss
Return (%)
Time Period
1936.3
1940-1920
2150
1830
11.03%
3-Months
The stock has given a 9-week consolidation breakout on a weekly scale along with relatively higher volume. In addition, on breakout week, it has formed a sizable bullish candle, which adds strength to the breakout. As the stock is trading at all-time high levels all the moving averages and momentum-based indicators are showing strong bullish momentum in the stock. The weekly RSI has formed a strong base near the 60 level and thereafter witnessed a strong rebound, which is a bullish sign as per RSI range shift rules.
Hence, we recommend to accumulate the stock in the zone of 1940-1920 with a stoploss of Rs 1830 level. On the upside, it is likely to test the level of 2150 in the short term.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
16 minutes ago
- Business Standard
Daunted by trade war, US firms in China report record-low investment plans
American companies in China are reporting record-low new investment plans for this year and declining confidence in their profitability, with uncertainty in US-China relations and President Donald Trump's tariffs their top concerns, according to a new survey. The companies are also challenged by China's slowing economy, where weak domestic demand and overcapacity in local industries are eroding profitability for the Americans. Businesses in China are less profitable now than they were years ago, but risks, including reputational risk, regulatory risk, and political risk, are increasing, said Sean Stein, the president of the US-China Business Council, a Washington-based group that represents American companies doing business in China, including major multinationals. The survey, conducted between March and May and drawing from 130 member companies, was released Wednesday. It came as the two countries clash over tariffs and non-tariff measures, including export controls on critical products such as rare-earth magnets and advanced computer chips. Following high-level talks in Geneva and London, US and Chinese officials agreed to pull back from sky-high tariffs and restrictions on exports, but uncertainty persists as the two sides are yet to hammer out a more permanent trade deal. Kyle Sullivan, vice president of business advisory services at the USCBC, said more than half of the companies in the survey indicated they do not have new investment plans in China at all this year. "That's a record high, Sullivan said, noting that it is a new development that we have not observed in previous surveys. Around 40 per cent of companies reported negative effects from US export control measures, with many experiencing lost sales, severed customer relationships, and reputational damage from being unreliable suppliers, according to the survey. Citing national security, the US government has banned exports to China of high-tech products, such as the most advanced chips, which could help boost China's military capabilities. Stein argued that export controls must be very carefully targeted, because businesses from Europe or Japan, or local businesses in China would immediately fill the void left by American companies. Silicon Valley chipmaker Nvidia won approval from the Trump administration to resume sales to China of its advanced H20 chips used to develop artificial intelligence, its CEO Jensen Huang announced on Monday, though the company's most powerful chips remain under US export control rules. While 82% of US companies reported profits in 2024, fewer than half are optimistic about the future in China, reflecting concerns over tariffs, deflation, and policy uncertainty, according to the survey. Also, a record high number of American businesses plan to relocate their business operations outside of China, Sullivan said, as 27% of the members indicated so, up from 19 per cent the year before. In a departure from past surveys, concerns over China's regulatory environment, including risks of intellectual property misuse and lack of market access, didn't make it to the top five concerns this year. That's likely a first, and not for a good reason, Stein said. It is not because things got dramatically better on the Chinese side, but the new challenges, often coming from the US, are now posing as much of a challenge, Stein said. Almost all the American companies said they cannot remain globally competitive without their Chinese operations. A survey from the European Union Chamber of Commerce in China in May found that European companies were cutting costs and scaling back investment plans in China as its economy slows and fierce competition drives down prices.
Time of India
16 minutes ago
- Time of India
India unfazed by Trump's secondary tariff threats: Hardeep Singh Puri on threat to Russian oil imports
Hardeep Singh Puri stated India is not worried about potential US sanctions. He believes oil markets are well-supplied and prices will decrease. India is diversifying its oil sources, including purchases from Argentina and Brazil. This comes after the US threatened tariffs on Russian imports and countries trading with Russia if a peace deal isn't reached. Tired of too many ads? Remove Ads Petroleum and Natural Gas of India Hardeep Singh Puri on Thursday said India is unfazed by US sanction threats as oil markets remain well supplied, adding that the prices will come said that India is currently buying crude oil from Argentina and will buy more from Brazil. The comments came while answering a question on US President Donald Trump's secondary tariffs threat at Urja Varta 2025 Trump, on Tuesday, had announced 100 per cent tariffs on Russian imports, including oil. Additionally, the US president also introduced equivalent secondary tariffs on countries importing from Russia, including on India. He wanred that the tariffs would be imposed if Russia did not arrive at a peace deal within 50 days. When asked about the secondary tariff warning, Puri said at the Thursday event that right now he does not have 'any pressure' in his oil refiners have been getting Russian oil at discounted rates since 2022, while while the West has moved away from Russia by imposing sanctions. Russia currently accounts for a third of India's oil imports, compared to less than 1 per cent before the war.A secondary tariff would affect Indian refiners with them having to switch to western countries for oil for a higher cost.
Economic Times
16 minutes ago
- Economic Times
India slips to 4th spot among favourite Asian stock market, shows BofA survey
India's stock market has fallen to the fourth place among Asia Pacific's most favoured investment destinations as the Nifty remains trapped in a bruising two-month consolidation with no rescue in sight, according to the latest Bank of America (BofA) survey that signals a shift in fund manager sentiment. ADVERTISEMENT The stunning reversal marks a sharp departure from India's previous position as a regional favourite, with Japan now commanding the top spot "by a distance," followed by Taiwan and South Korea, while India languishes in fourth place as investors flee to semiconductor-driven rallies elsewhere. The BofA survey reveals only 10% of fund managers are now overweight on India, a stark contrast to the 32% backing Japan, 19% supporting Taiwan, and 16% favouring South Korea. The data exposes India's vulnerability in the near term as it struggles with a lack of positive catalysts while regional rivals capitalise on the resurgent semiconductor cycle. "Both Taiwan and Korea are benefiting from the resurgent semiconductor cycle, while Korea gains additional upside from hopes surrounding its new leadership's policy reforms," BofA noted in the survey, highlighting the specific drivers propelling India's competitors survey delivered particularly brutal news for India's once-mighty IT services sector, which has fallen "out of favour" as BofA's India IT services indicator crashed to a 20-month low. This sector-specific weakness adds to the broader malaise gripping Indian VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, painted a bleak picture: "There are no triggers for the market to break out of the consolidation range in which it has been stuck for two months now. Even an India-US interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range." ADVERTISEMENT Vijayakumar identified one potential catalyst that could shock the market higher: "One positive and surprise factor that can trigger a rally is a tariff rate much below 20%, say 15%, which the market has not discounted. So, watch out for developments on the trade and tariff front."The strategist delivered mixed signals on key sectors, warning that "Results of the IT sector continue to disappoint and, therefore, this can remain a drag on the overall market," while suggesting opportunities in banking: "Leading private sector banks are in a defensive mode now. The market is discounting NIM compression in the Q1 results. But this will reverse from Q3 onwards, making them good buys now." ADVERTISEMENT Despite the ranking slide, analysts at Prabhudas Lilladher emphasized India's ability to weather global storms: "Indian markets have shown a lot of resilience in past few months despite big events and disruptions around global tariff wars, Israel Iran war and operation Sindoor."The brokerage noted that while "FII remains net sellers YTD, although they have been net buyers in the past few weeks," highlighting the continuing foreign investor uncertainty plaguing the market. ADVERTISEMENT Prabhudas Lilladher's analysis revealed that Indian markets are trading at a significant discount, valuing "Nifty at 2.5% discount to 15-year average PE at 18.5x with March27 EPS of 1451.5" and setting a 12-month target of 26,889, up from their previous target of 25,521. Also read: Rs 40,000 crore dividend boom! How Ambani, Adani & India's top billionaires got richer in FY25 The survey showed that within India, "investors are keen on consumption and infrastructure plays" while IT services faces sustained pressure. This sectoral rotation reflects the broader challenges facing technology stocks amid global economic uncertainties. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
