Shares to buy in short term: Mehta Equities' Riyank suggests KRN Heat, Senco, Balaji Amines stock to buy in near term
The Nifty 50 was to reach 25,475 . 95 level, and the BSE Sensex rose by 0.12% to 83,526.55, as recorded at 12:55 IST.
During early trading, both indexes fluctuated between a gain of 0.2% and a loss of 0.2%.
Riyank Arora of Mehta Equities said that Nifty 50 is poised for a breakout above 25,600 resistance could trigger further upside towards 25,750–26,000 in the near term. Riyank Arora suggest three stocks to buy in the short term. Here's what he says about the overall market.
Nifty 50 continues to trade with a positive bias, holding firm above its immediate support at 25,300. A breakout above 25,600 resistance could trigger further upside towards 25,750–26,000 in the near term. Overall trend remains constructive, supported by momentum indicators, but traders should monitor price action closely around resistance levels for confirmation.
Bank Nifty is maintaining strength, with immediate resistance at 57,200. A sustained move above this level can lead to a rally toward 57,500–58,000. On the downside, support lies at 56,600, which is crucial to hold for the bullish setup to stay intact. Broader participation from major banking names is lending strength to the index.
Riyank Arora recommends these three stocks in the short term - KRN Heat Exchanger And Refrigeration Ltd, Senco Gold Ltd, and Balaji Amines Ltd.
Buy | CMP: ₹ 933 | Stop Loss: ₹ 905 | Target: ₹ 1,020
KRN Heat has delivered a strong breakout above ₹ 920, supported by a noticeable uptick in volumes, signaling increased buying interest. The stock is trading above key moving averages, indicating a firm short-term trend. RSI is rising, and the overall setup suggests momentum is building for further upside. Recent consolidation has helped establish a base, and if the price sustains above ₹ 930, it can potentially rally towards ₹ 1,020 in the coming sessions. The risk-reward is favourable at current levels. Traders should maintain a strict stop loss at ₹ 905 to manage downside risk in case of broader market volatility.
Buy | CMP: ₹ 363 | Stop Loss: ₹ 345 | Target: ₹ 395
Senco Gold has shown a strong recovery from its recent support near ₹ 350, backed by rising volumes and improving price action. The stock is currently trying to break out of a minor resistance at ₹ 360, and a close above this level would confirm bullish continuation. RSI is gaining traction, and the overall trend suggests accumulation at lower levels. With improving sentiment in the jewellery and retail space, Senco is well-positioned for a short-term move toward ₹ 395. Maintain a stop loss at ₹ 345 to protect against sudden pullbacks or broader market pressure.
Buy | CMP: ₹ 1,915 | Stop Loss: ₹ 1,860 | Target: ₹ 2,050
Balaji Amines has recently bounced back after forming a strong base around ₹ 1,850, signaling renewed buying interest. The stock is showing signs of trend reversal with a bullish structure and improving technical indicators. RSI and MACD suggest strengthening momentum, and the price has crossed above its short-term moving averages, which reinforces the upside bias. If the stock sustains above ₹ 1,920, a quick move toward ₹ 2,050 looks likely. The risk-reward remains attractive at current levels. Traders should keep a stop loss at ₹ 1,860 to protect positions in case of any reversal or weakness in broader market sentiment.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
24 minutes ago
- Hindustan Times
iPhone 17 trial production kicks off in India, faces setbacks from China: Report
Apple's next flagship, the iPhone 17, is now entering trial production in India, according to a report by The Economic Times. Foxconn Technology Group, Apple's primary manufacturing partner, has started importing key components from China, including display assemblies, rear camera modules, and mechanical housings, in preparation for assembling the new model. These shipments, though limited in volume, suggest the components are for trial production rather than mass manufacturing. iPhone 17 is expected to launch in September.(Majin Bu) Mass Production Begins August, Launch Expected in September Sources indicate that full-scale mass production of the iPhone 17 is scheduled to begin in August, ahead of the anticipated September launch. Apple plans to manufacture the iPhone 17 simultaneously in China and India, a major strategic move that underscores India's increasing importance in Apple's global production ecosystem. This follows a gradual shift in Apple's supply chain strategy over the past few years. While the iPhone 14 was assembled in India six weeks after China, the iPhone 15 was produced nearly simultaneously in both countries. In 2024, Apple integrated India into the New Product Introduction (NPI) process for the iPhone 16, breaking China's long-standing exclusivity on early-stage production. US Market Shift and Tariff Avoidance The move aligns with Apple's broader strategy to reduce its reliance on China, particularly for devices bound for the US. Since the imposition of steep tariffs on Chinese imports under former President Donald Trump, Apple has been ramping up Indian manufacturing as an export hub. The company is aiming to transition most of its US-bound iPhone production to India by 2026, despite pressure from the US government to bring more manufacturing back home. Production Disruption as Foxconn Sends Chinese Engineers Back However, the ramp-up is facing unexpected challenges. According to Business Standard, Foxconn has started pulling back hundreds of Chinese engineers and technicians from its Indian facilities. The decision is believed to be influenced by the Chinese government's efforts to retain critical manufacturing know-how and technology within China. Additionally, there are reports of Chinese Customs delaying the shipment of essential machinery required to upgrade Indian production lines for the iPhone 17. The combination of logistical hurdles and staff pullout could impact Apple's goal of matching production timelines across India and China. Nevertheless, the company appears committed to expanding its footprint in India, with new Foxconn assembly plants already under construction in locations such as Bengaluru.
Mint
26 minutes ago
- Mint
Adani Energy to Varun Beverages - Jay Thakkar suggests three stocks to buy for short-term in F&O segment
Stock market news: The Indian stock markets wrapped up the day in negative territory on Friday, largely due to a sluggish start to the first quarter earnings season and rising tariff threats from the US, which may impose a 35% tax on goods imported from Canada. By the end of the trading session, the Sensex fell by 689.81 points or 0.83%, concluding at 82,500.47, while the Nifty 50 declined by 205.40 points or 0.81%, finishing at 25,149.85. Numerous market analysts highlighted the renewed worries over tariffs and disappointing corporate earnings, particularly in the IT sector, as significant factors contributing to the negative market sentiment. Nifty 50 has been consolidating within a narrow range of 25,600 to 25,700 on the upside whereas 25,400 to 25,300 on the lower side, so the short-term range is 25,600-25,400 and beyond that its 25,700 to 25,300. It has been quite a while that the Index has been trading within this range and the IVs have fallen below 11 now which has lower IVP and IVR levels indicating that there is a higher possibility of an increase in IVs mostly due to weekly expiry or with the start of the result season, so a breakout is quite likely from this range. Since, the trend prior to this consolidation was up, so the upside breakout probability is higher. Based on the options data, it seems that if Nifty 50 manages to sustain above 25,500 levels, then the bulls have an upper hand as both the call and put base is highest at 25,500 levels, so above it means bullish and vice-versa. The PCR is still below 1 at 0.85, however, the breadth has now weakened much despite a long consolidation, indicating a completion of sideways move. So, until 25,300 levels are held on a closing basis, one can initiate long on Nifty 50 for the targets of 25,700 and 25,800 levels on an immediate term and above those it can inch towards 26,000 levels as well. Jay Thakkar of ICICI Securities recommends Adani Energy Solutions Futures, Colgate Palmolive (India) Futures, and Varun Beverages Futures (VBL). Adani Energy Solutions has been consolidating since couple of days and prior to that it had corrected a bit, however, since its entry in the derivatives segments, the stock has witnessed long built up and it continues to increase indicating that there is a higher probability of an upside from current levels. Options data indicates that the 900 strike has the highest OI, so above that there will be an increase in upward momentum, the put additions at the lower levels has increased which indicates good support at the lower levels. The stock is also trading well above its max pain and modified max pain levels which is a positive sign in the near term. Colgate Palmolive has been forming a base at the lower levels and the short has seen some short covering in the near term. In the previous fall the stock had witnessed huge short built up and now since there is a sign of short covering in the futures data, the upside probability is higher thus offering a better risk: reward ratio. The highest put base is at 2400 and there are overall good put additions at 2400 and below the same, whereas, 2500 strike has the highest OI, indicating support at the lower levels, whereas, resistance only at 2500 levels beyond which the upside potential is higher. VBL seems to be forming the base as the prices are now reversing taking off its previous swing highs and with that there has so far, no change in the Open Interest in futures segment. The stock has witnessed huge short built up since its entry in the F&O segment and with the price reversal, the stock is likely to witness short covering, hence one can go long on VBL. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 08/07/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
India.com
an hour ago
- India.com
'We've been taken advantage of...': Trump advises countries in trade talks with US to 'keep working hard' ahead of August 1 deadline
'We've been taken advantage of...': Trump advises countries in trade talks with US to 'keep working hard' ahead of August 1 deadline US President Donald Trump has told countries that are in trade talks with the US to 'keep working hard' as the August 1 deadline for negotiations gets closer. He repeated his claim that for many years, America has been treated unfairly by other countries including its friends. Speaking to the media before leaving for flood-affected areas in Texas, Trump said that South Korea, Japan, and some other nations are trying to make deals with the US to avoid heavy new tariffs that may begin on August 1. 'I think just keep working hard. You know, we've been taken advantage of for many, many years by countries, both friend and foe. And frankly, the friends have been worse than the foes in many cases,' he said during a press availability at the White House. He added, 'Just keep working. Everything will work out in the end.' On Monday, Trump sent a letter to South Korean President Lee Jae Myung, saying that the U.S. will start charging 25 per cent tariffs on South Korean goods from August 1. These new charges were originally planned to begin this Wednesday, but Trump had paused them for 90 days. Trump first announced this plan in April as part of his push to reduce trade barriers, cut the U.S. trade deficit, and support American manufacturing jobs. At the same time, U.S. and South Korean officials met in Seoul to talk about improving their alliance. Both countries said they want to make their partnership stronger, more equal, and better prepared for the future. The meeting comes as the Trump administration continues to ask allies to share more of the costs and focus on countering China's growing influence. In a joint statement, both countries said: 'The two sides discussed how to strengthen the U.S.-South Korea alliance into a future-focused, strategic partnership that benefits both sides, especially as regional security challenges grow.' (With IANS inputs)
